EBS -Mortgage variable rate

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mick23

Registered User
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i have come out of my 5 yr fixed rate with ebs this month .ebs have written to me today to say that the mortgage is changing over to their variable rate of 4.33% from this month.
i thought the rate would be lower than this,can anyone clarify if this is the correct rate they are quoting me


any help much appreciated thanks
 
EBS don't publish their standard variable rate for existing customers on their website, but their new business variable rates range from 4.0% to 4.6% APR so your 4.33% sounds about right.

Why did you think it would be lower?
 
one reason it should be lower is because AIB have a much lower rate and they might as well be the same bank. Soon EBS may well end up being the most expensive bank in the market for mortgages:(:confused:
 
switcher1234 said:
one reason it should be lower is because AIB have a much lower rate and they might as well be the same bank. Soon EBS may well end up being the most expensive bank in the market for mortgages:(:confused:
Click to expand...

The same situation applies to Permanent TSB - AIB and PTSB have the same owner, but PTSB 's rates are far higher than AIB's. Government says it cannot interfere with rate policy...(except when they can, like when they put pressure on AIB to pass on the ECB rate cut).
 
mick23, I came out of a 5 year fixed with EBS about 2 months ago. We were put on a variable of 4.33% also.
 
disappointing its not highlighted as much as ptsb. Ptsb said they will cut their rates again which will prob bring them under EBS. EBS will soon have the highest rate. It seems if you don't get on their case about t they are happy to leave it like that
 
So are EBS now the dearest SVR on the market for current customers even though AIB who have been amalgamated with EBS are the cheapest.

No sign of EBS passing on the last rate cut and our wonderful politicians who demanded AIB to cut the last time dont seem to bothered.

What kicks people into action on these things. Why is it that when AIB who are the cheapest provider on the market dont pass on a cut we have uproar but PTSB or EBS seem to be allowed charge what they want or pass on what ever cuts they want
 
Very little seems to be able to kick the vast majority of Irish people into action on any issue. My only guess is a learned collective consciousness of submission after 800 years of colonialism. Don't let it stop you from trying though.. everything has to start somewhere. Letter writing to your TD, protest at the bank, social media campaigns.. all of these and more are within your grasp.
 
There doesnt seem to be any real motivation to push EBS on this point. AIB and EBS are the same bank when it suits them. You are never going to get them to change anything if you dont apply pressure. Look at PTSB. Do you think they would have done anything on their own. The real fear here is if 4.33 is the lowest they will go then god help us when the ECB rate starts going up again.
 
hi all
I contacted my TD about the high SVRs being charged by the banks and inparticular my bank EBS. While sympathetic he explained that the government would be criticised if they were seen to be interfering in the banking system! He explained we need the banking system to recover so the tax payer might get some return in the future. I explained I was a tax payer and needed help now! I am paying 4.33 to EBS for my mortgage while AIB customers or paying 3% for the same product - not to mention 400,000 customers on Trackers who are paying much less.
I am meeting my bank manager in 2weeks time to voice my concerns about this. When I get a chance I will post my details in the money make over section.
We are struggling every month to make our repayments and the EBS did not even pass on the last reduction of .25% . I feel like such a mug .
If anyone has any advice on how to approach this meeting I would love to hear from them . I am sure we might be offered interest only but thats only more profit for the bank and a bigger bill for us in the long term.
We need to move to a bigger house but have negative equity so I dont think they will do anything for us ( dont even have a tracker to bargain with)
Just want to see some light at the end of the tunnel
thanks
k
 
EBS are a disgrace if the .25% was added on by the ECB you could be sure they'd up it straight away. AIB and EBS are the same bank when it suits them ..... banking system is a joke, 4.33 % is ridicules
 
Not wishing to drag the post off topic, kmce. But how can you say in one line that you can barely afford your current mortgage and then say in the next line, we need to move to a bigger house? Regardless of your negative equity how did you intend to pay the next mortgage?
 
The only way it's going to get better is if we keep talking about it and creating awareness. Pressing the banks. Pity EBS rate doesn't get much attention in the media. I have a feeling if it reached the airways a little more then something would be done. They didn't pass on the cut and there was barely a mention of it in the media.
 
They should have passed on the rate change, I have complained in person about this to my bank manager to no avail and with a very poor response. It's simple they don't care about their customers and their financial situation. I would advise anyone going for a mortgage 'don't go there' All of us with mortgages with them should make an appointment and complain in person. Complain to politicians in writing or in person. Make it a topic which won't die down.

As a matter of interest which banks passed on the rate change and which didn't???????????? the 'good' banks to deal with?????????
 
I don't think they are giving out any new mortgages so i don't think they are too worried about being uncompetitive. If you're not in a position to switch, then you just got to grin and bear it. The only way to make your point in my ipinion is to mount a campaing to encourage people not to save money with them and boycott their products. I'm also going to switch from the ESB just to make me feel better.
 
I have complained to EBS about the discrepancy between the EBS and AIB SVR's but to no avail. I complained by phone and heard nothing positive back from them. I emailed them quite a while ago and got no reply at all! I have emailed them again since but I don't hold out much hope.
 
EBS - Mortgage variable rate

any other ideas on how to kick start the campaign to put pressure on EBS? Joe Duffy? :)
 
oh dear, I'm not sure I could live with myself if I became someone who "talked to Joe" :)
Desperate times though....
 
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