Noonan and bank meeting & Mortgage draw down in September

H

Happy

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Hi

I am due to draw down a mortgage at the start of September.
Does anybody know what date in September the minister of finance is meeting the banks?
If I push out the drawdown a bit there may be some changes in my favour
If so do you think they will have an immediate effect?
LTV will be 72%
I need to draw loan down by 5th of October

Thanks in advance
 
If you are borrowing from ptsb, AIB or Ulster Bank , it is likely that any cuts will be passed on to you, assuming you go for a variable rate.

If you go for a fixed rate, or if you borrow from KBC or Bank of Ireland, you will not benefit from any cuts arising from the meeting.

Brendan
 
I thought the new lower AIB rate was because the bank is showing the minister before the meeting some good faith. Banks want to be in governments good books. Ulster however is a different kettle of fish to AIB. The UK head office calls the tune here so they may not play ball with Noonan. But if all banks lower rates, Ulster (and BofI and KBC) might have to do something to retain market share.

I honestly cannot see AIB announcing reduction in August and doing it again in Sept. Having said that, I was surprised they did.
 
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