Dáil Éireann Debate, Thursday - 22 September 2011
56 Deputy Peter Mathews asked the Minister for Finance if a person is legally entitled to be provided with the full details of all repayments they have made on their mortgage for the past 30 years; and if he will make a statement on the matter. [25446/11]
Amharc ar fhreagraThe duties of a mortgage lender to supply documents and information to a borrower are set out in section 130 of the Consumer Credit Act 1995. That section provides that 'a mortgage lender shall, in respect of a housing loan, issue to the borrower:
(a) at the time the loan is made, or as soon as may be practicable thereafter a copy of the mortgage deed (including any contract relating thereto) which copy shall be additional to any copy of such mortgage deed issued to his legal representative, and
(b) a statement of the total amount outstanding on the loan on a specified date occurring not more than one year after the making of the loan and at intervals of not more than one year thereafter until the loan is fully repaid, such statement being issued as soon as practicable after the date specified.
In addition, under Data Protection legislation, a person is entitled to receive a copy of all personal data held on him/her. If a lending institution holds the details of repayments made on a loan in an accessible format, then the borrower is entitled to seek and receive such data. There is no obligation, however, on the lending institution to hold such data for a period longer than 6 years.
