Am I the only one annoyed by high mortgage rates in Ireland?

44brendan said:
Maybe you still believe in fairies too Gerry :D
Fairness does not enter into any internal discussions on pricing by Banks or most other businesses. The banks are not run by the Government despite the fact that they may still retain controlling interest in some. High rates will facilitate them paying their way out of the austerity funding a little quicker so realistically the Government are getting their money back from BoI and AIB. In that context the bailout funds are fully repayable.
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You are a pessimist!!
ps . I believe Government should on their owned Bank ie AIB make sure they serve their owners ie mise . In Bois case if BOI don,t play ball , squeeze them hard on Consumer Codes etc.

pps. Maybe I do believe in fairies!!
 
Fairness does not enter into any internal discussions on pricing by Banks or most other businesses.
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Indeed it doesn't but in some cases it should be enforced - specifically I'm thinking where parties are not of equal bargaining strength. There are few mortgage providers and many people who deem it necessary (rightly or wrongly) to purchase their own home. These people do not enter the contact as freely as might be the case with a phone or TV subscription. They therefore are obliged to accept terms as dictated by the provider, that might not otherwise accept. A little consumer protection should be imposed on the banks where there isn't enough competition for the free market to do so.
 
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