Brendan Burgess
Founder
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- 52,118
Bank of ireland , which is part- owned by the State, will raise its standard-variable and loan-to-value rates for existing customers in October, the [broken link removed] has learnt.
The rise of 0.5pc will be imposed on existing residential and buy-to-let customers, and residential and investor borrowers taking out new mortgages.
...
AIB is set to raise its variable rates by 0.5pc also at the start of next month, but its variable rates will still be lower than those of [broken link removed] and ICS.
Banks need to become profitable and the only way it up for interest rates for those not on trackers.
Squeezing the life out of a minority of the customers is not the answer to returning a badly run bank to profitibilty.
You don't know too many Standard Variable Rate customers do you?
Ulster bank have sent a letter reducing the standard variable rate.
Ulster bank have sent a letter reducing the standard variable rate.
I received my letter from BOI but the revised payment is shown as less than my existing payment. Presume it's bank error and that I will get another letter in due course.
I have confirmed with UB that this is just the passing on of the most recent ECB rate decrease. The letters were sent some time ago.
Banks won't be happy until people who are managing at the moment will be pushed over the edge. Am listening to the radio now and someone called Snodding???????? not sure of name is saying banks must be returned to profitability & it seems to hell with everyone else.I'm just about managing now.
I received the letter yesterday, dated 31/8/12, telling me the rate increase is with effect from 24/10/12.
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