THE six main mortgage lenders have agreed to reduce payments for variable
rate holders by July 1.
JUST two bookmakers
rate holders Barcelona as favourites to retain the Champions League following their 3-1 semi-final first-leg defeat against Inter last night.
Under the deal, holders of Guaranteed Annuity
Rate Holders (GARs) - retirement annuities which promised yields of up to 30 per cent above similar products - will be offered a 17.5 per cent 'uplift' if they give up their guaranteed rights.
The bailed-out lender plunged its 70,000 variable
rate holders into fresh misery as it said the current 4.34% will jump to 4.5% from May.
But the banks haven't yet made any move on relieving some of the pain of variable
rate holders.
But banks have not yet made any move on relieving some of the pain of variable
rate holders.
THE Government must force banks to pass on the latest rate cut to variable
rate holders, it was claimed yesterday.
Bank of Ireland has already raised rates by 0.45% for variable mortgage holders and 0.25% for fixed
rate holders but vowed that will be the only increase this year unless the ECB raises rates before Christmas.
With pay cuts and tax hikes, thousands of fixed
rate holders have been trying to switch to variable rates but the banks are insisting they pay between EUR10,000 and EUR20,000 in penalties.
