Dáil Éireann Debate, Thursday - 12 March 2015
119. Deputy Michael McGrath asked the Minister for Finance if he will encourage lenders to allow borrowers who are moving home to be able to keep their tracker mortgage rate; the number of cases in which banks facilitated this in 2013 and 2014; and if he will make a statement on the matter. [11028/15]
View answerThe decision to advance credit, and the terms on which such credit is advanced, is a commercial decision for individual lenders. In that regard, there are no particular requirements to allow or prevent banks from allowing borrowers who are moving to keep their tracker mortgage rate. I am informed by the Central Bank that a number of banks currently offer various tracker mover products but it does not have data on this.
