Remember, for those who are still getting mortgage tax relief and not maxing it, this will increase too and offset a small amount of the increase. The media never mention this as they hate to have a positive angle on anything these days
The "desperately needed taxpayers money" is largely being used to pay off reckless foreign banks - whereas any tax relief and/or tax incentives for property purchases helps stave off the increasing number of repossessions and reduce the increasing worry of tens of thousands,often young, Irish property owners - a worry that increases with every rise in interest rates - rises that this country do not need.
Anything that reduces the suffering caused by interest rate increases is to be welcomed.
its 6.1 % in some banks here, now that's nuts at this moment on time
6.1% isnt high...10 years ago rates were at 13 or 14%
I've been paying a mortgage for 13 years. It has not gone over 4%.
I read an article in the Irish Indepedent recently that suggested that the ECB may not increase their rates for the next year due the the economic crisis in Italy & Spain.
Sounds like good news for Tracker Mortgages.
Any word on what rate hike BoI will apply to their SVR?
They will not raise it. They cannot risk more people getting into arrears. They will leave it as is, for the foreseeable future. They intimated an increase to gauge public reaction.
They will not raise it. They cannot risk more people getting into arrears. They will leave it as is, for the foreseeable future. They intimated an increase to gauge public reaction.
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