Seanad
‹ Order of Business Mortgage interest rate increase
Summary
The Chair clarifies the relevant motion, while O’Brien urges the Seanad to condemn banks’ mortgage rate increases and their effect on struggling families.
It is real opportunity for the Seanad. By simply passing this motion, it would show that all representatives in this House condemn this mortgage interest rate increase and understand that the vast majority of mortgage holders are doing their level best to pay their mortgages. On a €300,000 mortgage, more than €100 net per month will be extracted from these families which are struggling already. By passing this motion, we have a chance to send a clear message from Seanad Éireann that this is not acceptable.