Three month euro LIBOR rates are falling and now stand @ 0.899.
Hi,
If, like me, you have a PTSB mortgage and you also bank with them (current account/savings account etc..) can I suggest the following course of action?
Very simply inform them that while you can't presently change your mortgage provider, you are moving all your other accounts to other lenders and then do so. Make it clear that the reason you are doing this is in protest at the unjustified 0.5% mortgage increase.
You would swear most of the people on this site are either bankers or dont have mortgages or have trackers - dont be fooled, the only reason they are increasing their rates is to profiteer at the expense of standard mortgage holders because they are losing money on their trackers. Instead of making 200M profit, they need to satisfy their shareholders with 400M profit. Their massive insurance business can easily subsidise their trackers.
Just my two cents thats all.
Orchestrating/advocating a run on a bank - I'm sure that must be illegal !?!?!!?
The ECB rate is 1%, I am paying 3.75% now (on account of being put on a rate of 3.25% when I came off my fixed rate mortgage). Thats a markup of 2.75% on a mortgage, which is huge.
The ECB rate is 1%, I am paying 3.75% now (on account of being put on a rate of 3.25% when I came off my fixed rate mortgage). Thats a markup of 2.75% on a mortgage, which is huge.
.
Well its only 50000 mortgage holders with PTSB who are effected and the gove have basically said sod off and opened the door for the rest of the banks to follow suit. I believe from converstaions ive had with fellow workers that most are now leaning towards a no vote in the Lisbon ref. A move like this could swing the referendum against the govt.
Orchestrating/advocating a run on a bank - I'm sure that must be illegal !?!?!!?
It's amazing the number of different ways we can bit off our nose to spite our face.
Come off it, this is juvenille behaviour along the lines of failing a subject to annoy your teacher.
We should vote for Lisbon on its own merits. Rejecting it would probably hurt people in low paid manufacturing jobs a lot worse than it will sting Brian Cowan's ego
There is a good measure of ignorance fuelling this public outrage.
You are not paying a "mark-up" of 2.75% on your mortgage. The cost of funding to the bank is not 1%.
In fact, at the moment you are current getting a nice little subsidy (paid for by Irish taxpayers) given that you pay only 3.75%.
And let's face it. We are talking 3.75%. You should be a budgeting on paying on average around 5-6% on a mortgage. Enjoy this utopia of very low interest rates while you can.
I am open to correction here, but the ECB lend money at that rate i.e. Irish banks are borrowing from the ECB at that rate. I believe the ECB has lent 750 billion euro so far.
Thats a markup of 2.75% on a mortgage, which is huge.
I am open to correction here, but the ECB lend money at that rate i.e. Irish banks are borrowing from the ECB at that rate. I believe the ECB has lent 750 billion euro so far.
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