R
Maybe he hasn't a hope but increasing variable rates doesn't help struggling borrowers.
Irish examiner
http://www.irishexaminer.com/ireland/court-grants-11-home-repossessions-399501.html
The father of two was able to make repayments until in 2012 KBC increased repayments from €1480 to €3000
The title of this thread is completely misleading - there was no mention at all of high rates in that article.
The first borrower was refreshingly honest - he went into arrears and his situation became insurmountable. Not the end of the world.
He says the arrears piled up to €125,000
Add that to €450,000
Gives €575,000
The point is the loan may have been restructured to increase the capital
Irish examiner
http://www.irishexaminer.com/ireland/court-grants-11-home-repossessions-399501.html
The father of two was able to make repayments until in 2012 KBC increased repayments from €1480 to €3000
That is the scandal of the fine gael labour government.
Abandoning families to the benefit of the banks.
Ecb rates have only come down since 2012. Down significantly.
Who to blame? Michael Noonan?
Hopefully this new government can do something about rates.
It is an urgent political problem.
During the famine the English were blamed for evictions. Now it's fine gael.
I said already: reduce variable rates
Why are banks in other countries charging 2%
Especially when borrowers here are facing a bigger crisis than people in Europe in terms of job losses etc
I said already: reduce variable rates
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