297. Deputy John Browne asked the Minister for Finance his views that it is justified, morally or otherwise, for Bank of Ireland to continue charging a variable mortgage interest rate of 5.5% on a property which was purchased as a residential investment some years ago, but which has now been re-designated as a principal private residence, due to the bank requiring the sale of a former principal private residence, the debt on which has been repaid in full, including a tracker mortgage; and if he will make a statement on the matter. [28845/15]

As the Deputy will be aware, under the Relationship Frameworks, the State does not intervene in the day to day operations of the banks in which it holds investments or their management decisions regarding commercial matters. Accordingly, it is not appropriate for me to comment on the rate charged by a bank at individual account level.

The Deputy should also note that any consumer has the option to refer their case to the Financial Services Ombudsman for independent review in a situation where they feel they have not been treated fairly by their bank.