Expiry date of a fixed rate mortgage should be required on mortgage statements

SPC100

Frequent Poster
Messages
622
In my opinion the 'Expiry date of my fixed rate mortgage' should be required information on the annual mortgage statement.

This could help people plan their affairs better, and avoid ending up on a higher rate.

I think there is some requirement to notify in advance of rate expiring, but folks often go on long breaks etc.,

Mods please feel free to move to better forum, I wasn't sure which was best.
 
Last edited:

Brendan Burgess

Founder
Messages
41,421
Hi SPC

A very good idea. You should send it in to the Central Bank and they might incorporate it in the next version of the Consumer Protection Code

Brendan
 

SPC100

Frequent Poster
Messages
622
I sent it in and got a 'your suggestion has been forwarded to appropriate department'
 

newirishman

Frequent Poster
Messages
795
The "manage your mortgage" web site from Ulster bank shows the end date for my fixed rate. I think I also saw it on the paper statement that I receive once a year, but will double-check.
I am irritated that this doesn't seem to the norm to be honest.
But OTOH, most of the Irish banks are not exactly competent or customer focused.
 

Brendan Burgess

Founder
Messages
41,421
I sent it in and got a 'your suggestion has been forwarded to appropriate department'
Well done!

They will actively consider it.

I don't think that they would implement something like this on its own. The need for issuing consultation papers and revisions to the CPC would not justify it.

But when there is consultation on the next version of the CPC, it would be another opportunity to suggest it again.



Brendan
 
Top