Dáil Éireann - Volume 190 - 13 June, 1961

Ceisteanna—Questions. Oral Answers. - Charges on Outstanding Building Loans.

Mr. D. Costello Mr. D. Costello

11

15. Mr. D. Costello asked the Minister for Industry and Commerce [11] whether he is aware that it is the practice of one building society in the City of Dublin to raise the loan charges during the currency of its outstanding loans; whether there is any machinery available to him to investigate whether such increases may be justified; and, if not, if he will establish such machinery.

Mr. J. Lynch Mr. J. Lynch

Mr. J. Lynch: I understand that some building societies have embodied a provision in contracts for loans on house purchase which enables them to vary the rate of interest chargeable on advances.

The rate of interest paid to a building society is a matter between the borrower and the society. The Building Societies Acts do not provide any means by which I can investigate the rates of interest charged, and I do not propose to introduce amending legislation to enable me to do so.

Dáil Éireann 190 Ceisteanna—Questions. Oral Answers. Charges on Outstanding Building Loans.

Questions

19610613