Revolut set to enter mortgage market for first time

By |2023-09-22T08:47:03+00:00September 22nd, 2023|Banking, Financial Planning, Mortgages|

Revolut is set to begin selling mortgages. The financial payments company says it is hiring staff with mortgage products in mind, although it has not put an exact timeline on its market entry. The company’s intention to enter the Irish mortgages market was first revealed by the Irish Independent 10 months ago. "We're focused on

ECB announces a 10th interest rate rise in move that piles pressure on borrowers

By |2023-09-15T09:02:25+00:00September 15th, 2023|Banking, Financial Planning|

Borrowers are being hit with a 10th interest rate rise by the European Central Bank in a move that is set to suck billions of euro out of household budgets. It had been hoped that after nine hikes in lending rates, the ECB would decide to pause hiking rates again this month. But fears that

Ulster Bank loses appeal over tracker mortgage refunds and compensation

By |2023-06-26T08:31:27+00:00June 26th, 2023|Banking, Mortgages|

Ulster Bank has lost its High Court appeals against findings that two borrowers were entitled to tracker mortgage refunds and compensation. Ms Justice Marguerite Bolger on Thursday dismissed the appeal against two decisions made by the Financial Services and Pensions Ombudsman (FSPO), which the lender said could affect thousands of its customers. The bank failed

‘Rip-off’ claims after it emerges banks making €1.8bn on savers’ cash

By |2023-05-05T09:44:27+00:00April 21st, 2023|Banking|

THE three retail banks have been accused of “ripping off” their customers by paying savers tiny amounts in interest while using their money to earn billions of euro. The accusation comes after Central Bank Governor Gabriel Makhlouf told TDs and senators banks were making around €1.8bn a year by putting household and business deposits they have in

BOI’s Blunder Sparks Fears For Borrower Credit Ratings

By |2023-04-14T09:11:50+00:00April 14th, 2023|Banking, Mortgages|

A blunder on around 35,000 KBC mortgages transferred to Bank of Ireland has led to fears the borrowers' credit ratings may be impacted. The mortgage 'start date' was incorrectly entered into Bank of Ireland systems, and as a result, the lender did not submit the data to the Central Bank's Central Credit Register (CCR). And Bank of

Collapse of US banks could lead to a rethink on ECB’s interest rate hikes

By |2023-03-16T10:40:50+00:00March 16th, 2023|Banking|

The collapse of America’s Silicon Valley Bank (SVB) may force the European Central Bank (ECB) to rethink its plans for a string of interest rate rises this year. Economists said the ECB was still expected to announce a 0.5 percentage point rise this Thursday. Some ECB governors had called for four rate rises this year.

1,900 AIB Customers Received 90% Debt Write Off

By |2023-03-03T10:13:54+00:00March 3rd, 2023|Banking|

Around 1,900 AIB customers are part of a select group who have seen at least 90% of their debt written off, it has been confirmed. After the revelations that hurling legend DJ Carey had millions of euro written off his debt, AIB will today tell an Oireachtas committee that 1,900 borrowers - or 1% of their financially struggling customers

Central Bank does not want powers to stop vulture funds charging sky-high mortgage rates

By |2023-02-13T11:48:48+00:00February 10th, 2023|Banking, Mortgages|

THE Central Bank has told the Minister for Finance it does not want powers to cap the interest rates that vulture funds can charge mortgage holders. It comes as thousands of borrowers are at risk of going into arrears as they are being charged rates as high as 7pc by vulture funds that bought their

Banks to be told to maintain cash services under proposed law

By |2022-12-02T11:08:22+00:00December 2nd, 2022|Banking, News|

Banks will be required to keep access to cash services at 2022 levels under a new legislative framework recommended in the Retail Banking Review. It is understood finance minister Paschal Donohoe has accepted the recommendation and that work on the framework will begin next year, with heads of heads of a bill to be delivered

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