Brendan Burgess
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A good piece quoting me in today's Indo
www.independent.ie
The Central Bank has been accused of “doing nothing meaningful” for mortgage holders by a consumer advocate following the launch of updated rules for banks and other financial firms.
Founder of Askaboutmoney.com, Brendan Burgess said the regulator could have done far more to encourage mortgage switching and should have banned practices that keep home-loan interest rates high.
He was commenting after the Central Bank published an update of its rules around protecting consumers.
...
“It would have been very easy for the Central Bank to encourage competition between lenders on mortgage rates alone by banning cash-backs and other gimmicks, by banning the discrimination between new and existing borrowers, and by requiring vulture funds to make available to borrowers the same rates on offer from the lender who sold them the mortgage,” he said.
“Yet the Central Bank has done nothing meaningful to protect any of these customers.”
‘It’s a case of if you can’t switch, tough’ – Central Bank accused of doing ‘nothing meaningful’ for mortgage holders
The Central Bank has been accused of “doing nothing meaningful” for mortgage holders by a consumer advocate following the launch of updated rules for banks and other financial firms.
www.independent.ie
The Central Bank has been accused of “doing nothing meaningful” for mortgage holders by a consumer advocate following the launch of updated rules for banks and other financial firms.
Founder of Askaboutmoney.com, Brendan Burgess said the regulator could have done far more to encourage mortgage switching and should have banned practices that keep home-loan interest rates high.
He was commenting after the Central Bank published an update of its rules around protecting consumers.
...
“It would have been very easy for the Central Bank to encourage competition between lenders on mortgage rates alone by banning cash-backs and other gimmicks, by banning the discrimination between new and existing borrowers, and by requiring vulture funds to make available to borrowers the same rates on offer from the lender who sold them the mortgage,” he said.
“Yet the Central Bank has done nothing meaningful to protect any of these customers.”