I suspect most people who are pushing for a lower Mortgage Rates do more harm than good .unless the address why Banks have higher risks on lending in Ireland,
Most never take into account the Government/Political Driven underline reasons why Banks will always need higher rates in Ireland ,
First up is the changes made to the Pay Related Social Insurance system back around 1985/6 which is still the system used to support workers who lose there jobs in almost all EU Countries where Mortgage interest rates are lower,
Back in 2008 a very good friend of mine had to let people off,He ran a labor intensive low margin business , What upset him Most letting good employees go who had high Mortgages to pay , Back in the early 1980 they ran into the same problems but with the pay related social Insurance systems in place people let go were in a position to keep there mortgages paid out of the Social Insurance system in place back them,
Pay related Social Insurance Employers/Employees payroll deductions are close to 20 % of pay roll up until the Usc came in,
An Employer/ employees getting the same from state as people who never worked
If you take the time and look at Other EU Countries pay related social insurance systems you will soon see why Mortgage rates will always be higher in Ireland ,
Most never take into account the Government/Political Driven underline reasons why Banks will always need higher rates in Ireland ,
First up is the changes made to the Pay Related Social Insurance system back around 1985/6 which is still the system used to support workers who lose there jobs in almost all EU Countries where Mortgage interest rates are lower,
Back in 2008 a very good friend of mine had to let people off,He ran a labor intensive low margin business , What upset him Most letting good employees go who had high Mortgages to pay , Back in the early 1980 they ran into the same problems but with the pay related social Insurance systems in place people let go were in a position to keep there mortgages paid out of the Social Insurance system in place back them,
Pay related Social Insurance Employers/Employees payroll deductions are close to 20 % of pay roll up until the Usc came in,
An Employer/ employees getting the same from state as people who never worked
If you take the time and look at Other EU Countries pay related social insurance systems you will soon see why Mortgage rates will always be higher in Ireland ,