Well, the head of FG was saying in the Dail yesterday that the Banks are going to be hauled in because there's too much talk of repossessions of the tens of thousands of mortgages in arrears....so if you join the dots, you'll see 1 of the main reasons why SVR's are so high!I have today contacted my local Fine Gael TD's highlighting the issue of high SVR rates at Irish Banks. Maybe if enough of us do contact them and with an election coming soon we may get them to do something. I am unable to switch because of negative equity so this is all I can do at the moment. Thanks to Brendan for keeping this issue highlighted
And yes, we do need to see movement from the Banks. They can start with the mortgages 4+ years in arrears and work there way back to those gone 6 months over!