Yesterday’s ECB rate cut will be a welcome boost for the 400,000 or so homeowners who will see their mortgage repayments fall by 0.25%. However, the latest intervention by the European Central Bank to try and drive economic growth has only driven a bigger wedge between those who have trackers and those who have not. [...]
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6th July 2012
Permanent TSB cut variable rate by 0.35%
Permanent TSB has announced that it is to reduce its standard variable mortgage rate following the decision by the ECB to cut rates yesterday. The bank has been one of the most expensive mortgage lenders in the country and was recently criticised by customers at its AGM. While all tracker mortgage holders immediately benefit from [...]
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6th July 2012
The mortgage divide, is it right?
Yesterday’s ECB rate cut of 0.25% will be welcome news to many mortgage holders but for a large proportion, they will never benefit from it. Tracker mortgage holders will automatically benefit from the new 0.75% rate but the cut is unlikely to be passed on to the vast majority of variable mortgage rate customers. The [...]
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1st June 2012
Don’t Draghi it out, give us a rate cut!
Will the European Central Bank (ECB) be lowering rates below 1%? If they do will it make any difference to the Irish market? Today we look at some of the key considerations and how it will affect you if rates are lowered. In simple terms, interest rates affect different people in different ways, people with [...]
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8th December 2011
Mortgage rate cut expected today
Homeowners are expected to receive a boost today with the European Central Bank expected to cut its benchmark interest rate for the second time in as many months. If the cut goes ahead, as has been widely anticipated, the average Irish tracker mortgage holder could be better off by more than €700 a year. The bank [...]
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7th December 2011
Another mortgage rate cut on the cards
Mortgage holders are expected to receive a pre-Christmas boost later this week when a rate cut of 0.25pc, and possibly as high as 0.5pc, is announced. The European Central Bank (ECB) is expected to cut its key interest rates for the second time in two months as the EU debt crisis threatens to spiral out [...]
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28th November 2011
Minister rules out legislation forcing banks to pass on rate cuts
Minister for Finance Michael Noonan insists he has no plans to implement legislation to compel lenders to reduce their standard variable rates but will keep the matter “under review.” Responding to a query from Deputy Aodhán Ó Ríordáin in the Dáil last week, the Minister said that he was confident that the Central Bank would [...]
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18th November 2011
More than 100,000 now struggling with mortgages, new figures reveal
NEW figures set to be released by the Central Bank on Friday will show that more than 100,000 people are now struggling to repay their mortgages. This will be the first time that the number of people in trouble with their mortgages has breached the 100,000 mark. The figure is expected to be made up [...]
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16th November 2011
Taoiseach expresses disappointment at banks’ failure to pass on ECB rate cut
TAOISEACH Enda Kenny has expressed his disappointment at certain lenders’ failures to pass on the recent ECB rate cut of 0.25% to their customers. Bank of Ireland, whom the State owns 15% of, and Ulster Bank are the most high profile of the institutions not to have passed the cut on to customers with Danish-owned [...]
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4th November 2011
Should banks pass on rate cuts?
Today’s topic may be a little contentious… In a surprise move yesterday Mario Draghi, the brand new ECB President, reduced interest rates and indications are that they may go lower again in the near future (he had been president for a mere 3 days to that point). The reduction was 0.25%, giving a new base [...]
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no way has it bottomed out as the next budget will crucify us even further. Overspending in heal...
