Brendan Burgess
Founder
- Messages
- 52,118
Number 3 will not get you elected.
Make repossessions easier
Nor will number 1! [help you to get elected]
This is another problem with Irish politics.
But you're not making a few bucks off the bank (unless you switch again). The cash back is priced into the rate you pay.Theyre a brilliant way of making a few buck off the banks
Simple solution - change the maximum LTV to 93% across the board. Now instead of FTB having to save 10%, and get 3% back for furniture, they save 10%, and keep 3% for themselves. But they get a better rate.I think that seeking to ban cash back offers would be a mistake. First time buyers often avail of them to help pay for furniture etc post acquisition of their houses.
Simple solution - change the maximum LTV to 93% across the board. Now instead of FTB having to save 10%, and get 3% back for furniture, they save 10%, and keep 3% for themselves. But they get a better rate.
I switched 3 times and got cashback each time which was nice. How is it anti consumer? Its pro consumer - if the consuner is savy enough.
If somebody needs to be savvy enough not to get tricked into paying more than they should, then that is not pro-consumer. You must realise that you switching three times while the majority of the population don’t switch at all makes you an expert at this and not a regular consumer.I switched 3 times and got cashback each time which was nice. How is it anti consumer? Its pro consumer - if the consuner is savy enough.
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