Grand so, although it would have saved us a lot of time if you had just told us that in the first place.
I didn't ask you for documentary evidence - I simply asked what was the basis for your claim.
If you simply told us that you have clients with commercial mortgages that had been deemed in scope, as Jim did, I would have been more than happy to accept that at face value. Why would I doubt your bona fides?
Instead, you initially offered your opinion as to why such mortgages should be in scope. There is obviously a difference between opinions and facts.
Well, it certainly wasn't obvious to me that non-residential commercial loans were in scope – if it was I would have answered Dan's question myself.Read the CBI's framework for conducting tracker review dated December 2015 that I alluded to, before posting, you are literate. It is obvious that commercial loans are included.
Well, it certainly wasn't obvious to me that non-residential commercial loans were in scope – if it was I would have answered Dan's question myself.
As you pointed out yourself, the Central Bank's framework document only refers to PDH and BTL loans. If I take out a commercial loan to purchase my business premises that is obviously neither a PDH nor a BTL loan.
For the avoidance of any doubt, I am not disputing that as a matter of fact that commercial mortgages are being treated as being in scope.
I'm not disputing the factual position – I really couldn't have any clearer on that point.
If I take out a loan to purchase a premises from which I intend to operate my business that is clearly not a BTL (buy to let) loan. I'm not buying the property with a view to letting it to anybody.