"If, as expected, AIB goes ahead and cuts rates by a further 50 basis points..."

[Brendan Burgess]

Interesting comment in today's Irish Times from Fiona Reddan

How much is the bank making on your mortgage?

"If, as expected, AIB goes ahead and cuts rates by a further 50 basis points, this cost will rise."

If that happens, it would probably make the FF bill unnecessary. Or at least, the suggestion of limiting rates to 25% above the average would become a viable alternative.

Brendan

 

[deltrotter]

If it happens do you think the cut will be passed to EBS customers or will we be snubbed yet again?

 

[Sarenco]

I think that's a fair, balanced article by Fiona Redden and summarises most of the contentious points that have been discussed elsewhere.

Cliff Taylor also had an interesting take on the issue over the weekend -

http://www.irishtimes.com/opinion/c...rs-running-our-banks-or-politicians-1.2663419

 

[gnf_ireland]

If that happens, it would probably make the FF bill unnecessary.

I think it would make it unnecessary for those who can switch, but still need to come up with something for those who cannot (or won't for whatever reason)

 

[demoivre]

If that happens, it would probably make the FF bill unnecessary. Or at least, the suggestion of limiting rates to 25% above the average would become a viable alternative.

Putting a cap on rates is the only way I can see lenders being stopped fleecing those in arrears and /or negative equity.

 

[Reflections]

Interesting comment in today's Irish Times from Fiona Reddan

How much is the bank making on your mortgage?

"If, as expected, AIB goes ahead and cuts rates by a further 50 basis points, this cost will rise."

If that happens, it would probably make the FF bill unnecessary. Or at least, the suggestion of limiting rates to 25% above the average would become a viable alternative.

Brendan

Hi Brendan,

Do you still think there is any chance of this additional cut in interests rates from AIB appearing before Christmas? Or have things changed since this news first broke?

Regards

 

[AlbacoreA]

No updates? I don't think it will change much as its dropped so slowly over this year.