The disclosures and representations regarding Endowment Mortgages and Repayment Mortgages, as described in the First National HOME MORTGAGES explanatory pamphlet, are disclosures and representations made by the First National Building Society.

The statements in the First National HOME MORTGAGES pamphlet, to the effect that First National can provide all the expert advice the borrower is looking for when choosing a home mortgage and the expert advice needed as to the best choice of mortgage to suit the borrower, are representations made by the First National Building Society.

The First National Mortgage Quotation (Case 1 of Appendix 1/2), presented to me at my May 1991 meeting with the First National Senior Official, is a representation made by the First National Building Society.

While Mortgage Quotations from First National were presented to me under First National title, I have been led to believe (from correspondence with both First National and Irish Life) that the Mortgage Quotations (i.e. the Quotations’ data) were in fact prepared by Irish Life Assurance. (It was probably the case that First National were provided with Mortgage Quotation ‘software’ by Irish Life.)

The Mortgage Quotation comparison presented to me is therefore a representation made by Irish Life, the Principal, through their Tied Agent, First National.

Also, the resultant Endowment / Life Assurance Contract is with Irish Life. The entirety of the Endowment versus Repayment Quotation (Case 1 of Appendix 1/2) was prepared by Irish Life for presentation to prospective clients through their agents, tied agents and independent intermediaries, with the singular purpose of inducing an Endowment / Life Assurance Contract with Irish Life.

Notwithstanding the Tied Agency relationship between First National and Irish Life, it is clear that the Mortgage Quotation presented to me had the full imprimatur of the First National Building Society as a formidable Financial Institution in its own right.

The advice given to me and the representations made by the First National Senior Official are therefore representations made by the First National Building Society, both in its capacity as a stand-alone, highly respected Financial Institution and in its capacity as the tied agent of Irish Life.