EBS customers - you are not getting the 0.25% rate cut announced by AIB today

Unfortunately negative equity scuppers the chances of moving for lota of people.
 
AIB will be appearing in front of the Oireachtas Finance Committee on Tuesday.

You should contact your local TDs and ask them to attend and raise this issue.

I will send some of the members of the Committee a briefing note on the issue, but if they hear from a few people, they are more likely to raise it.

Here are the members. If you are in one of their constituencies it's vitally important that you contact them.


Chairman: John McGuinness

Vice Chairman: Gerry Horkan

Member Party
Deputies:
Peter Burke Fine Gael
Pearse Doherty Sinn Féin
Michael McGrath Fianna Fáil
Paul Murphy S-PBP
Seán Sherlock Labour

Senators:
Paddy Burke Fine Gael
Rose Conway-Walsh Sinn Féin
Gerry Horkan Fianna Fáil
Kieran O’Donnell Fine Gael



Brendan
 
Thanks very much Brendan. For all customers at EBS; speak now or forever hold your peace.

I believe the more politicians we contact to raise this issue the better. If they get enough requests from us voters, they may highlight this injustice. I did a quick compare, and EBS have the highest mortgage rates for owner occupiers by a significant margin
 
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Dauhee said:
Thanks very much Brendan. For all customers at EBS; speak now or forever hold your peace.
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I don't know enough about this topic, but I would surely like to see EBS drop their rates! How can I help?
 
I think you should email this to your TD



How can EBS justify charging .55% more than AIB?
How can the rates for EBS be 50% higher for low LTV mortgages? They cannot use the "difficult to repossess houses" excuse at low LTV

But most importantly of all, why are the existing EBS customers subsidising the 2% cash back for new customers?

And will your TD support the FF bill to oblige lenders to treat existing customers the same as new customers and to limit cash backs to the legal costs?

Brendan
 
Foobar said:
How can I help?
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Hi, if you can contact TDs/Senators listed above and also any of your regional TDs. The more politicians that are informed about this matter, the better.

Currently I have 2 responses from assistants saying they will forward my request on, and also a response from Michael McGrath saying that he does intend to bring this up at the Oireachtas Finance Committee meeting tomorrow
 
Dauhee said:
a response from Michael McGrath saying that he does intend to bring this up at the Oireachtas Finance Committee meeting tomorrow
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That is great.

But what tends to happen is the the banks talk out the time allotted to the TDs and so they don't get a full chance to respond to answers from the lenders. If Michael McGrath brings this up, it would be very helpful if some other TD follows up on the issue.

Brendan
 
Met with KBC today and am almost decided on going with their 10yr fixed rate.
I'll be glad to be finished with EBS. Only a market-beating SVR change announcement (very soon) will keep me there now.

Any word on how the Committee went today? Was the EBS issue mentioned?
 
It was mentioned that there was a "flood of emails" on this issue, so well done to all that made contact. I believe only by politicians bringing this up will it be dealt with, otherwise if no noise made, no rate cuts given. As far as I know, Michael McGrath gave a good bit of his time as well as Kieran ODonnell and Peter Burke.

But alas, nothing definitive apart from, will be a staggered news release, just like the last AIB cuts.

A full transcript will be online in a few days:
http://oireachtasdebates.oireachtas...ack.nsf/committeebasebyyear/2017?opendocument
 
Thanks Brendan for all the info on this. I e mailed and got prompt replies from two at the meeting. I hope it makes a difference
 
Emailed the guy in EBS who did our mortgage asking what is story, got very vague "we are reviewing our rates and any cuts will appear in the press" response. Going to give it another month and then look into switching. I'm at 3.5% EBS variable, but can get 2.95% AIB variable based on LTV....
 
you should start switching anyhow. EBS are not going to drop by .55% any time soon (in my opinion). You even might have enough left over from the 2k switch money for a meal out somewhere to celebrate saving 50-100Eur a month.
 
Agree 100%.

People need to vote with their feet here, assuming they can refinance.

It's insane sitting back waiting for EBS to drop their rates, the EBS will only drop their rates when they are under pressure to do so and even then, there's no guarantee that they will match the cheapest rate available to you from another lender.
 
Firstly i do admit i am with AIB and to be fair to them they so far have come across as the best of a bad lot, the reason i say "so far" is i would be wary as regards what happens when they are taken out of state ownership but thats for another future thread. People with EBS are being badly shortchanged at present and are perfectly entitled to be furious and should be looking at changing but i think this may be because AIB are using EBS to market the cash back gimmick and thus the reason gor not dropping the SVR. AIB i see dont offer cashback but theyre covering the cash back market by using EBS and consequently the customers of EBS who are the innocent victims of this. I havent read all the contributions on this thread but im sure this point has already been highlighted but what i have seen is the obvious one of people getting out of EBS which is exactly what id be doing if i was in a position of not being in NE which of course is another issue again to make them pay for what they are doing.with with them to make them pay for what they are doing. The NE issue was mentioned on another thread when PTSB was described as Prison TSB, sums that issue up for sure.
 

Agree with all of the above except AIB do give 2k cashback.
For those wishing to stay on variable rates, they seem the obvious choice.
You could always make a few quid first though, by initially taking the mortgage out with EBS for the 2% cashback, then switch to AIB for 2k and the lowest rate in the market.
 
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