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Dublin: 8 °C Monday 9 December, 2019

#Mortgage Rates

# mortgage-rates - Wednesday 27 February, 2019

Central Bank says 35-45 year olds who bought homes in the boom will be most impacted if tracker rates rise

Despite Brexit, the Central Bank believes workers are in line for pay increases of up to 7% over the next two years.

# mortgage-rates - Wednesday 23 November, 2016

'Doing it arseways': Pearse Doherty on plans to review Help-to-Buy scheme after its introduction

The TD said it doesn’t make any sense that the review would be done after the scheme’s implementation.

# mortgage-rates - Tuesday 17 May, 2016

This bill might reduce your mortgage rate and be the government's first defeat

The new bill, if passed, will see the Central Bank get new powers to cap mortgage interest rates.

# mortgage-rates - Wednesday 11 May, 2016

6 things you'll always* hear in a taxi in Ireland

*Well, almost always.

# mortgage-rates - Thursday 25 June, 2015

The courts have backed the banks on high mortgage rates

Lenders have been accused of “changing the goal posts against the consumer” on variable mortgages.

# mortgage-rates - Friday 29 May, 2015

AIB's new boss has a long year ahead of him

The state-owned bank has announced its replacement CEO.

# mortgage-rates - Tuesday 19 May, 2015

Will this man finally get tough with banks if they don't drop mortgage rates?

The Finance Minister has been meeting with lenders.

# mortgage-rates - Thursday 7 May, 2015

If the banks continue to 'gouge' mortgage-holders, maybe it's time to gouge them back...

AIB aside, Ireland’s main banks have refused to drop their rates despite record numbers of mortgages being in trouble.

# mortgage-rates - Wednesday 29 April, 2015

Hoping for a mortgage rate cut from one of these banks? Sorry, not happening

They’re not giving much away, this mob.

# mortgage-rates - Tuesday 14 April, 2015

Permanent TSB won't cut rates on mortgages - it wants to boost profits from them instead

The bank is about to go on a fundraising drive.

# mortgage-rates - Wednesday 1 April, 2015

Our banks are making homeowners 'pay way over the odds'

Interest rates in Ireland are way out of step with the rest of Europe.

# mortgage-rates - Wednesday 5 June, 2013

Increase in AIB's mortgage interest rates takes effect today

The 0.4 per cent increase in the standard variable rate, from 4.0 to 4.4pc, had been announced in late April.

# mortgage-rates - Monday 29 April, 2013

Permanent TSB to overhaul mortgage interest rates for new customers

From this week, interest rates will vary for new customers depending on the amount they borrow and the value of the house.

# mortgage-rates - Wednesday 24 April, 2013

AIB, EBS and Haven variable rate mortgages to increase from June

The rate increases vary from 0.25 per cent to 0.4 per cent.

# mortgage-rates - Wednesday 18 July, 2012

Permanent TSB to announce branch closures within days

Reports on Monday suggested that Ireland will see one in every four of its bank branches shut within two years.

# mortgage-rates - Wednesday 11 April, 2012

New Permanent TSB chief executive promises to review mortgage rates

The lender had been criticised for keeping its variable mortgage rates higher than other state-owned mortgage lenders.

# mortgage-rates - Friday 11 February, 2011

The 9 at 9: Friday

Nine things you need to know by 9am: Investigation launched into Cork air crash; another day of protests dawns in Egypt, and a teenage girl collapses and dies minutes after she is kissed for the first time.

# mortgage-rates - Thursday 3 February, 2011

Permanent TSB to cut 250 to 350 jobs

The mortgage lender will shed a large proportion of its 1,900-strong workforce – while preparing to raise mortgage interest rates.

# mortgage-rates - Monday 23 August, 2010

THE FINANCIAL REGULATOR says it’s time that tracker customers were informed of the implications of switching their mortgage.

Matthew Elderfield’s office today published the findings of a study into “switching practices relating to tracker mortgages.”

The findings have also been sent to all mortgage lenders, along with new measures the regulator says should be implemented immediately.

The study found:

[I]n some cases communication on the financial implications and consequences of switching were not fully transparent to the customer and that it was not always clear that if a customer moved from a tracker rate mortgage to an alternative interest rate (fixed, variable or other rate), for any reason, that their agreed tracker rate or an alternative tracker rate might not be available again in the future.

It did not find any evidence that customers were being offered incentives to switch from their tracker rate.

The regulator has requested that banks include new information regarding tracker mortgage switching in all customer communications.

# mortgage-rates - 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 TheJournal.ie revealed that the cost of the perk scheme could double the amount the bank makes in increased interest payments.

# mortgage-rates - 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.