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Mary Davis: I acted with integrity on board of 100 per cent mortgage lender

But she said the mortgages would not have been introduced “if I knew then what I know now”.

Mary Davis at the Inclusion Ireland debate earlier today
Mary Davis at the Inclusion Ireland debate earlier today
Image: Sam Boal/Photocall Ireland

MARY DAVIS HAS defended her actions on the board of a building society that offered controversial 100 per cent mortgages, saying she acted “with integrity”.

The independent candidate joined the board of ICS Building Society in 2004, earning €133,641.86 over six years for the position at the Bank of Ireland subsidiary. ICS introduced 100 per cent loans for home buyers in 2005.

Questioned today about her role in that decision, Davis insisted: “I acted with integrity at all times.” However, she also acknowledged that “if I knew then what I know now, then there wouldn’t have been 100 per cent mortgages.”

Davis made the comments as she was interviewed on RTÉ’s Six One news. When asked whether she had the “expertise” for the board position, she said “Of course I had the expertise. I wouldn’t have been invited” to take up the position otherwise.

The Sunday Business Post reported yesterday that Bank of Ireland is considering closing down ICS, which it has owned for more than two decades.

Read more: Mary Davis releases full tax filings – and encourages other candidates to follow suit>

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Michael Freeman

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