Regulators and ministers claimed that all borrowers would be treated equally, but the recent hike in interest rates suggests otherwise
Mortgages
Decision opens door for thousands of homeowners with current and past arrears to push for more favourable mortgage rates
New home loan customers hit with rates in March that were 0.62 of a percentage point up on what was available just one month earlier
Move would be ‘contrary to European Central Bank policy’ — a problem cited by several senior sources
Inside Politics podcast with Hugh Linehan
But bank saw decline in UK and international corporate lending during the period
New loan drawdowns climb more than 10% in first quarter, according to BPFI data, but ‘impetus for switching’ declines
Minister for Finance tells Gabriel Makhlouf he is ‘concerned’ clients taking up cashbacks pay higher rate for mortgage duration
Central Bank figures find Ireland had third lowest rates in euro zone but only because savers are subsidising borrowers
Dilosk, the parent of ICS, marketed bonds backed by a portfolio of existing owner-occupier mortgages
Non-bank lender marketing bonds backed by portfolio of existing ICS Mortgages loans to source capital for new lending
Research, commissioned by the Department of Finance, surveyed almost 3,000 consumers to get an insight into consumer behaviour in retail financial services
The move follows cumulative increases of 3.5 per cent in European Central Bank rates since July 2022
Overall figures skewed by switching and obscure the fact that average loan sizes are still on the rise
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