Sir, – Further to Donal Wyse’s suggestion to limit mortgage terms (Letters, March 4th), in a bid to keep down house prices, it might also be worthwhile limiting what the bank can reclaim, in the event of a mortgage default, on the property itself. The idea being that if the bank can’t break even on the combined resale price of the house, the initial mortgage deposit, and the mortgage repayments to date, then the house was overpriced to begin with. – Yours, etc,
WILL BREEN,
Cork.