Dáil Éireann Debate, Tuesday - 6 October 2015
258. Deputy Clare Daly asked the Minister for Finance his views on the appropriateness of Permanent TSB assessing loan-to-value ratios in order to apply an interest rate reduction, that it is including the warehoused portion of a mortgage, in cases of a split mortgage, to the mortgage outstanding, even though this portion is not subject to interest; the action he will take; and if he will make a statement on the matter. [34317/15]
View answerPermanent TSB has advised that its Loan to Value ratio takes into account the total amount of the outstanding loan and compares it with the value of the associated property at a point in time. As the amount of any debt that is warehoused remains payable by the customer it is reflected in the Loan to Value calculation.
Permanent TSB has confirmed that it does not charge its Home Loan customers any interest on the warehouse portion of their Split Mortgages.
Permanent TSB has informed me that it is committed to meeting customers who have a Split Mortgage on a recurring basis to assess their affordability to ensure their restructure and repayments most appropriately match their circumstances.
