Are the Fair Mortgage Rates campaign going to make a pre-budget submission this year?
Hi Páid
It's not really a Budget issue, is it?
I think that the main action will be to get Michael McGrath's amended bill through the Dáil as quickly as possible.
http://www.finance.gov.ie/what-we-do/tax/pre-budget-submissions/
If that happens, then EBS could not keep their mortgage rates high for all customers, and attract new business with the 2% cash back.
To be fair to the AIB Group generally, I think that they would welcome a ban on cash-backs. They are only doing it because they have to have such a product on offer to the customers who want it.
Brendan
I suppose that is a matter of opinion. Any organisation or lobby group can send one in.
It would cut the cost of mortgages dramatically. Instead of paying 3.5% to swell the profits of the lenders, they would be swelling the profits of their own pension fund.
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