Current Variable Rates for Mortgage up to 90percent LTV So most expensive are shown

[Paul Reilly]

This is the only way to highlight that some lenders are making an effort to reduce standard variable rates but others are NOT!!

Ill be sending a similar complaint to all TDs.

• AIB 3.5% LTV Max 90%
• Haven 3.5% Max 90%
• KBC 3.5% Max 90%(3.7% for non KBC current account holders)
• EBS 3.7% Max 90% LTV
• Ulster 3.7% Max 90% (current account required)
• Pepper 3.9% Max 90%

And the outliers

• PTSB 4.2% Max 90%
• BOI 4.5%

 

[RedOnion]

Just to give another perspective which might inform what politicians can / can't do here. Taking the outliers:
PTSB is a basket case in the market. More than 1 in 4 of their loans are still non performing. They've the highest cost of borrowing of any of he banks above in the market. And they're barely making a profit, and only since year ended 2016. PTSB needs a complete overhaul before they begin functioning properly. That would likely require another bailout to restructure their old loans so they could treat their new / performing customers fairly.

BoI will argue they've reduced fixed rates. This week they removed the LTV bands for fixed rate mortgages. So now any existing customers, even in negative equity, can switch to 1,2,3 or 5 year fixed at 3%. There's no reason for anyone to stay on SVR or 90% LTV rates when fixed rates like that are available.

If you want to highlight anything, I'd suggest start by reading each banks variable rate statement, and see if it means anything in the context of what they're currently doing.