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Operations manager with Irish Mortgage Brokers, Karl Deeter said banks will claim they are lending but on the ground it’s an “entirely different story”. “They don’t want to know except where you are a public sector worker or the type of person who banks would always lend to anyway,” he said. “With figures showing that 80% of mortgage applications are being rejected, it puts the banks in the enviable position of being able to cherry-pick only the best applications, declining even cases that fit criteria but are marginal. “This is contrary to giving the taxpayer back a return on our national investment because they need to lend to make profit, but equally, our pillar banks are charging artificially low rates versus the rest of the market, so not only are they cherry-picking but there is an implicit subsidy being paid to those who borrow via taxpayers who fund the banks. It’s a crazy set-up,” he added.