Maybe it's a topic for a different thread [seems it was and was split into its own thread], but why shouldn't those who cannot meet their loan obligations and require loan restructuring be charged more? Isn't it basically a form of subprime lending so something that you support? Otherwise it's like applying a form of community rating to the mortgage market rather than pricing products according to risk? Or is it a case of having to apply this sort of "community rating" in order to avoid bigger market and societal problems?I fully support sub-prime lending.
But I agree with the CCMA prohibition on banks charging customers more because they are in arrears or restructured. So the mortgages sold by ptsb should be on the same rate as existing ptsb customers.
Brendan
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