This site uses cookies to improve your experience and to provide services and advertising. By continuing to browse, you agree to the use of cookies described in our Cookies Policy. You may change your settings at any time but this may impact on the functionality of the site. To learn more see our Cookies Policy.
#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 18 °C Monday 13 July, 2020


# lenders - Monday 4 February, 2019

Banks pay out €647 million to victims of tracker mortgage scandal

The number of people affected by the overcharging scandal has now risen to almost 40,000.

# lenders - Sunday 13 January, 2019

'History will judge this': Experts see little change in bank culture after scandals and protests

People who are working every day with customers in arrears say lenders are still refusing to cooperate in any significant way.

# lenders - Tuesday 1 January, 2019

New rules making it easier to switch your mortgage kick in from today

Lenders will now have to tell customers 60 days before their fixed term ends and let them know about new rates and other options.

# lenders - Wednesday 20 December, 2017

It gets worse: Central Bank forces lenders to admit 13,600 more tracker victims overcharged

We now know at least 33,700 customers were overcharged and the Central Bank said it had to “relentlessly pursue” lenders in many of these cases.

# lenders - Monday 9 February, 2015

The price of a 3-bed semi has dropped by €20k in one area of Dublin

The market slowed in the Dublin area in the last quarter of 2014, amid uncertainty over new Central Bank lending rules.

# lenders - Tuesday 14 January, 2014

Report on repossessions wants changes, but no legislative reform

An expert group on repossessions found that case management standards of different lenders varies greatly, “with some operating at sub-optimal level”.

# lenders - Monday 23 December, 2013

Lenders will be required to introduce a board 'diversity policy' from 2015

It’s one of several changes in a revised corporate governance code issued by the Central Bank.

# lenders - Friday 5 July, 2013

Noonan: Not all banks are using confidentiality agreements with borrowers

The controversial practice of non-disclosure deals has been highlighted in recent months and the Central Bank is currently looking for information about the practice from lenders.

# lenders - Wednesday 13 February, 2013

Column: Government needs to impose proper rules and regulations on lenders

Comments by the Central Bank Governor and the Taoiseach reveal unhappiness over how lenders are dealing with their customers’ over-indebtedness – so why is nothing concrete being done to regulate them, asks Noeline Blackwell.

# lenders - Friday 24 August, 2012

Column: Pretending this mortgage crisis isn't happening won't make it go away

One in ten people who have a mortgage in Ireland are struggling to pay it off. Where is the urgency in solving this epidemic, asks Noeline Blackwell.

# lenders - Thursday 24 May, 2012

Column: The mortgage crisis is stoked by mistrust. Here’s how we might fix it.

Aggressive banks are making mortgage resolution impossible, writes David Hall of New Beginning – and suggests a way to restore trust between lenders and borrowers.

# lenders - Tuesday 22 May, 2012

Eircom to exit examinership in June after restructuring plan's approval

The High Court today approved the plan which sees group debts cut by 40 per cent to €2.3 billion.

# lenders - Tuesday 1 May, 2012

Central Bank clarifies rules on contacting borrowers in arrears

The Central Bank has outlined the appropriate rules of engagement for lenders dealing with mortgage customers who have fallen into arrears.

# lenders - Wednesday 11 April, 2012

Numbers seeking debt help reach highest level since crisis began

More than 50 per cent of those looking for help were families with children, new figures show.

# lenders - Tuesday 3 April, 2012

Some mortgage holders 'choosing not to pay', broker says

Karl Deeter of Irish Mortgage Brokers said some borrowers are strategically withholding payments in the hope of winning a debt deal.

The 9 at 9: Tuesday 9 At 9 This post contains videos

The 9 at 9: Tuesday

Nine things to know this morning, including: more garda station closures, seven killed in US college shootings, and a new ‘flying car’ (video).

# lenders - Friday 17 February, 2012

Poll: Have you fallen behind on your mortgage repayments? Your Say This post contains a poll

Poll: Have you fallen behind on your mortgage repayments?

Figures from the Central Bank show that more and more mortgages are falling behind on repayments. Is yours among them?

The average Irish mortgage is now €1,453 in arrears

Figures produced by the Central Bank show that 9.2 per cent of all mortgages are in arrears of 90 days or more.

# lenders - Monday 10 October, 2011

Column: Why should bankers have the right to judge us?

People behind on mortgage payments face humiliating personal interrogation from their bankers. We need a new independent solution, writes David Hall of New Beginning.

# lenders - Monday 11 July, 2011

Couple's €200k mortgage write-off 'wasn't unusual' - insider

Irish mortgage lenders are secretly agreeing huge reductions when borrowers cannot repay, an industry source tells

# lenders - Tuesday 10 August, 2010

FINE GAEL TD Leo Varadkar has criticised AIB for continuing with its staff benefit-in-kind schemes while simultaneously increasing interest rates on variable rate mortgages.

“I certainly don’t begrudge employees of the bank any benefits they may have,” Varadkar said. “However, this practice is reflective of the culture at AIB and many of the other banks, and that’s the culture of a big bank that still thinks it’s in the Celtic tiger-era.

“Banks have lots of buildings, lots of cars, lots of offices, lots of big salaries and lots of benefits and these are the things that need to be cut back before they increase interest rates on ordinary mortgage holders.”

The level of bank perks is also being criticised this lunchtime on RTÉ’s Liveline, with many mortgage payers sharing their disgust at the fact that the bank’s staff are still entitled to such perks, despite the bank being on the verge of being taken into state ownership.

In a statement today, AIB repeated its asssertion that said staff were “entitled to claim reimbursement of one sports and social club subscription for single membership in any one year.

“The amounts vary from half to full reimbursement of the fee with an upper limit of €2,500. ’Staff members must pay full tax on all of these payments and this is deducted through the bank’s payroll system.”

Bank of Ireland and Anglo Irish Bank have also said they operate similar procedures.

Earlier today revealed that the cost of the perk scheme could double the amount the bank makes in increased interest payments.

# lenders - Monday 9 August, 2010

AIB HAS BECOME the latest lender to raise its interest rates on standard variable mortgages. Less than a month ago the bank said it was not considering a rate rise.

The bank blamed the 0.5% increase on the cost of funding on the wholesale money market. Existing AIB tracker rate and fixed rate contracts will not be affected by the increase. The rate rises from 2.75% to 3.25% as of tomorrow.

BOI announced a 0.45% increase to its variable rate last week. Both AIB and BOI had already raised rates by 0.5% this year.

ICS Building Society also announced an increase last week  - of 0.6%.

In July, Permanent TSB increased its rates for the third time in 12 months, adding another 0.5% to its standard variable mortgage rate. EBS’s rate increase kicked in at the start of this month. The increase – of 0.6%  on its variable rate – was the building society’s second this year.

There are an estimated 690,000 mortgage-holders in Ireland.