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IN A MEETING between Simon Harris, banks, credit unions and non-bank lenders, the Taoiseach said he wants the cost of monthly repayments to fall “as quickly as they rose”.
During the discussion, sought by the Taoiseach, the group discussed mortgages, the housing market, SMEs and farmers.
Irish lenders have previously come under fire from customers and politicians over claims that they have not been fair for the cost of mortgages or enticing enough with the return for lenders.
The banks, however, have insisted that they have been fair and are working in line with interest rates set by the European Central Bank. Harris today said he believes monthly mortgage repayments should “fall just as quickly as they rose”.
Harris recognised that it is a commercial decision for each bank to take but he said he has urged lenders to have a “responsible approach” to reductions and added that the Government would be monitoring the situation over the coming months.
It is understood that he later emphasised this belief to his parliamentary party, adding that a similar approach must be applied in slashing rates as was provided when they were first hiked.
Gabriel Makhlouf, head of the Irish Central Bank, has said that he wanted just one more cut to interest rates this year by the European Central Bank in order to determine, with certainty, that inflation rates are on a path to drop to the desired 2%.
According to Harris, there is recieved limited evidence that of any increases in mortgage arrears at this time.
Separately, he added that the banks have welcomed the Government’s move to build up to 50,000 homes per year – announced by the Taoiseach after his election as leader of Fine Gael.
He said the lenders’ representatives were keen to make more development finance available to assist with the delivery of that target.
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Fine Gael the millionaires party
How would he describe fine Gael candidate John mcGahon
(A nice friendly guy)!!!
@Kevin O Brien: SF candidates, policy makers make other partys’ candidates look like kittens
@Kevin O Brien:
Sinn Fein the biggest property speculators in the Dail.
@Kevin O Brien:
Dessie and Martin?
Are fine gael being funded by millionaires and the 1%
@Kevin O Brien: True that the higher paid 1% and business pay most of tax to fund public services like health, education and social Welfare. Is that not good. That teachers are the academic is true but the real world is the ultimate teacher. What’s wrong with saying that. ?
@Kevin O Brien: Yes in a nutshell, to the detriment of the rest of us.
@Kevin O Brien:
Are Sinn Fein still being bank rolled by the Kremlin.
He’s right we need business men and business women in our Dáil. People who have proven they know how to work with money. How much is being wasted at tax payers expense right now? Incompetent people like ex- teachers, Rose of Tralee winner, jockeys etc. If I were to ask you, who would you trust with YOUR money, a business man/woman or a retired primary school teacher? Unfortunately too many people will vote for the former, and is why our country is in the way it’s in.
@Cole Palmer: business men only know how to look after themselves we definitely don’t need the likes of o Leary in power
@john salmon: Simon Harris and his crew know how to spend money don’t they? They should think about a career in stock market when they retire.
@john salmon: ya doctors like varadkar and James Reilly really worked out well
@john salmon: You don’t appear to live in a community that has benefitted from Michael O’Leary’s success and generosity.
@Cole Palmer: Ah now, leave jockeys out of it: look how well Bertie did out of them…..
@Athena: I find the cost of living a struggle and I know the likes of O’Leary would only put the boot in. Things are bad enough already.
@William Slevin: well said, I agree with you. I should have included that about O Leary. F him.
@john salmon: Agree 100%
@Cole Palmer:
U turn Mary flys Buisness class on her travals for Sinn Feins.
@john salmon:
As long as Mr Micheal O’Leary keeps providing for the working classes long may he prosper.
No apology at all, no wonder they treat young teachers like shit, temporary contracts pushed all the time, Peter Burkes attitude is the same for all working people paying Tax, he looks down on them & does nothing for them, but looks up to & prioritizes Multi Millionaires, hopefully the voters will teach him a lesson, arrogant ahole.
@John Mc Dermott:
Michael O’Leary is a hero to the working classes.
He’s right. A non “story”
@Padraig O’Brien: I’m just shocked a comment section is open on an article to do with Fg
@CP: there are several fg/election articles open for comments, from yesterday and today
@CP: completely agree with you!
no comments open to congratulate justice of 6.5 years to the man who set fire to a garda car…justice won today
@well done to all the rescue teams:
Crystal meth santa came to mind out side the court.
Just imagine Michael O leary as a minister or even taoiseach??? Then we’d be hurling/ making progress
@Frank Mc Carthy: Some of us would rather live in a society rather than an economy.. a self serving businessman who is driven by profit and loss wouldn’t be to my taste.. but obviously you’re different.. very very different.
@Brian: grew up in the 60′s….. believe me, it Wasn’t great,lol
@Frank Mc Carthy: That has absolutely nothing to do with wanting a self serving businessman in charge of a county and society.. but you’re obviously into that sort of thing. BTW you were conspicuous by your absence on the latest appointment by your “president of peace ” this morning.. no “another amazing appointment ” spiel.. wonder why ?
@Brian: btw grew up in the 70s.. I dont need you to tell me what things were like.. ta very much Ken.
@Brian: was away down the strand with BEST doggies in Ireland……. can you believe them rascals…..STILL wearing their MAGA bandanas, lol
@Brian: ‘ken’??? I like that one…. normally you go for Stephen or Maurice ,lol
@Frank Mc Carthy: I wouldn’t believe a word out of your mouth.. As usual nothing worthwhile to offer.. its hillarious your saviour who promised to put money back in the pockets of hard working Americans will end up taking it out of them with his proposed tarrifs. But the top 1 percent will be fine with his new tax proposals .. and targeting Ireland specifically in the process.. I suspect we’ll be seeing less and less of you as the siht show unfolds.
@Frank Mc Carthy: You’ll always be Ken Mc Carthy to me .. I’ve always called you Ken because it was the 1st troll account of yours I engaged with..as for those other names .. you’re getting your accounts mixed up again.. just waiting for Kevvy to pop up.. was missing this morning too.. out walking the dogs with ya no doubt.. did ye have a good chat ? Lol
@Frank Mc Carthy: We’d be hurling in the US ‘vomiting’ sense.
@William Slevin: You’re barking up the wrong tree, William. I (like almost all the commenters here, I would say) have just the one account.
‘Frank Mc Carthy’, on the other hand, has dozens, and trolls here full-time.
@William Slevin:
Sinn Fein also voted to bail out the banks with the government.
Only Labour voted against the bail out.
The whole room laughed at a dig at teachers ,a room full of FG followers..
It is what it is, be surprised if any teacher votes for FG
He would say that, wouldn’t he? The Hee Hawing of the Fine Gaelers at O’Leary’s comment was repulsive. At least, unlike Simon Harris, the teachers did not drop out of college.
FG have never valued the great work of our teachers. Treated them appallingly since the crash on 2008.
@Paul Whitehead:
Greedy teachers union members sold out new entrants to the profession in order to avoid paycuts.
@Paul Whitehead:
With a 20 per cent illiteracy rate in the country, teachers need a pay cut
Ah Peter the joys of entitlement
A nothing story. He’s right.
The desperation of the looneys is palpable
@Paul M Doe: exactly, when better stories are there to report on. Like Colm Brophys wife and Fg Cllr /general election candidate propositioning a developer for home upgrades so they won’t object to building developments.
@Paul M Doe: Tired jim / Paul m doe / william slevin / fintan pox / john doe / john m doe / john p doe /ulysses / exhausted jim / tired jim / john jon / lefty tears / lefty cries and dozens more troll accounts . Read any of their posts and you will see the quality of his comments, he has never added anything constructive or of any merit to any conversation on this platform. He has been banned on many occasions for good reason.
On one hand , it is sad to think how someone’s life choices have led them to be this desperate for attention , while on the other hand it is easy to see that he is so pathetic that nobody will interact with him in the real world.
@James Reardon:
Or fat Sinn Fein ex hunger strickers building fire death trap appartments.
A media bubble story about a media bubble story
Absolutely no way teachers are that sensitive…
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