Not quite. MIR reduces to 25% of qualifying interest next year but it won't be completely gone until the end of the year.TRS support finishes next month
I took out my mortgage with a Bank ( NIB ) in 2007 and have ended up with a Vulture Fund ( Pepper.)
I have a performing mortgage and a favorable LTV of 70-75% yet Pepper have no facility or interest in reducing my rate from a scandalous 4.75%.
Was your loan always performing? If it was, it is an interesting case study and one worth bringing to politicians and media attention. There is a lot that the Central Bank can do around their lending rules to help people switch mortgages without increasing systemic risk.
Hi BrendanI have suggested to the politicians that their bill to stop the sale of mortgages toAnother suggestion was that the rate could not be more than [30%] higher than the average rate.
Again, I doubt that this would help you. The average rate on non-tracker mortgages is probably around 4% , so the ceiling would be 5.2%.
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