deltrotter
Registered User
- Messages
- 60
Hi All,
So do we think it is time to highlight the issue YET again? I was in talking with EBS last week and the lady I spoke with said to me she through the Standard Variable Rate was low. I didnt agree with her. It got me thinking can we highlight this issue again?
I had Richard Bruton call to me over the summer. Friendly guy and I highlighted the Standard Variable Rate to him. I got the below letter in response to my conversation with him
"Efforts to reduce the margin on variable rate mortgatges has proven very difficult. The Dail has offered the Central Bank powers to control these rates, but the Central Bank has said it does not want such powers.
THe Minister for Finance is pressing the Banks to cut them and with some small success. THe Central Bank is going to review the position again. I hope there can be some progress.
There is a committment int he Programme for Government to also get the Competition Commission to examine the market. We really need some new entrants that would put pressure on the Banks in this market".
I am going to contact my local TD's again on this issue. Could people try to do the same? Is there anything else we could do?
Thanks
So do we think it is time to highlight the issue YET again? I was in talking with EBS last week and the lady I spoke with said to me she through the Standard Variable Rate was low. I didnt agree with her. It got me thinking can we highlight this issue again?
I had Richard Bruton call to me over the summer. Friendly guy and I highlighted the Standard Variable Rate to him. I got the below letter in response to my conversation with him
"Efforts to reduce the margin on variable rate mortgatges has proven very difficult. The Dail has offered the Central Bank powers to control these rates, but the Central Bank has said it does not want such powers.
THe Minister for Finance is pressing the Banks to cut them and with some small success. THe Central Bank is going to review the position again. I hope there can be some progress.
There is a committment int he Programme for Government to also get the Competition Commission to examine the market. We really need some new entrants that would put pressure on the Banks in this market".
I am going to contact my local TD's again on this issue. Could people try to do the same? Is there anything else we could do?
Thanks