Well, it's been discussed on aam before with many believing that it would be a win/win for bank and client - and others who say that over the longterm, banks really are not going to be taking such a hit on the cost of money (don't understand this - but then I defer to folks who have more in depth knowledge of such things). However, if they did start to consider doing deals, there is upside for both parties - so no give away here.we own AIB - so if they do deals, then we, as taxpayers, have to pay for those deals.
A bit of a generalisation (or maybe it's just me that has slogged it out to save some modest 'shoebox money' which I'd like to throw at the mortgage)....?I just don't see that it could be fair to allow people who have 'Bertie - ie shoebox - money, to get a big reduction while the rest of us are diligently trying to pay the mortgage - even it it is a tracker!
Run a search Yorky - a couple of relevant threads on this. Last time I checked with them was approx 3 months ago (I *think*) - and no dice.Have NIB changed their stance on early redemption discounts?
Thanks Brendan.
Eithne fair point but if the banks are also losing money on trackers are we the tax payers not also picking up the tab for that.
I disagree. If there were no tracker mortgages, then we - like you - would all be paying the rates that you currently have the misfortune to be paying.I don't believe for one second that the taxpayers are paying for the losing trackers, but I do believe that people like me and others on variable rate mortgages are paying for these trackers
I can't see how they have "misfortune" unless a tracker mortgage was unavailable at time of application. If they opted for a standard variable rate then that was their choice.
I think it could well be deemed 'misfortune'. I know in my case - if it wasn't for AAM, I may never have been on one! Granted, there was a time when that advertising campaign ran i.e. "I don't know what a tracker mortgage is" ...but for folks that went looking for a mortgage before this, I think there is every reason to believe anyone of us could have ended up on SVR. Thanks to info posted by others here, I was able to get the best deal going - and then switch within the space of 24 months - to a new product that bettered that again. At a later point, trackers were removed from the market - so anyone taking a mortgage more recently has no option but to take SVR (if they can get one at all!).I can't see how they have "misfortune" unless a tracker mortgage was unavailable at time of application. If they opted for a standard variable rate then that was their choice.
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