Article in Irish Independent yesterday mentions PTSB, EBS, UB

[swauna78]

A rarely seen glimpse of someone actually getting the point:

http://www.independent.ie/business/...s-as-another-rate-cut-on-the-way-2980311.html

"....Meanwhile, new research shows that Permanent TSB, Ulster Bank and the EBS are charging their variable rate customers way over the ECB rate.
The variable rates charged by Permanent TSB are more than 4pc above the ECB rate of 1pc, Frank Conway of personal finance website MoneyCoach.ie said.
Since 2009, several mortgage lenders have increased the rates they charge their standard variable rate customers.
These rises came well before the ECB began increasing its rates earlier last year, only to reduce them in the November and December rate cuts, he added.
"While it is important that banks get back to a stable financial footing, it is also important that they do not risk the repayment capacity of individual mortgage customers who hold standard variable rate loans," said Mr Conway."

Now, all we need it more people to come to this realisation and to vocalise it widely in the media!

 

[mouse1]

I am not sure whether EBS is state owned, I know that Ulster Bank isn't, but PTSB is owned by the government - and that means that the government has a duty to bring them in, speak to them, and get them to set their variable rates in line with other state owned banks like AIB.

PTSB is rightly being highlighted in the media in relation to its shocking variable rates, but not enough pressure is being placed on the government to get them to act by the media. At the end of the day, if the government are not pressurised into doing something PTSB will sit back and do nothing.

 

[The_Banker]

I am not sure whether EBS is state owned, I know that Ulster Bank isn't, but PTSB is owned by the government - and that means that the government has a duty to bring them in, speak to them, and get them to set their variable rates in line with other state owned banks like AIB.

PTSB is rightly being highlighted in the media in relation to its shocking variable rates, but not enough pressure is being placed on the government to get them to act by the media. At the end of the day, if the government are not pressurised into doing something PTSB will sit back and do nothing.

EBS are now part of the AIB Group which is government owned.

 

[jpd]

Surely it is the taxpayer interest to extract the maximum possible from morgtage payers, without forcing them to default?

Not completely convinced that this is the best overall result for society, but from a strictly taxpayer's point of view it is certainly a worthy objective as any shortfall in mortgage repayments have to be met from taxes.