An increase from 8.05% to 9.05% on the interest rate of a buy-to-let mortgage has been labeled “outrageous” by a borrower affected by the full one-percentage-point rise. While this rate is double what is currently available in the market, borrowers with loans managed by Pepper are mostly unable to switch to another lender. In a …
Fixed interest rates on Local Authority Home Loans have recently increased by up to 0.65 percentage points, leaving some borrowers unable to secure sufficient loans for homes they were in the process of purchasing. The Local Authority Home Loan scheme assists first-time buyers who are unable to obtain mortgages from private lenders or banks due …
The CEO of AIB, Colin Hunt, has addressed concerns about potential increases in mortgage arrears in the future. While there has not been a significant spike in arrears levels at present, Hunt acknowledged that this situation may change. Hunt’s comments were made during a meeting with the Oireachtas Finance Committee following AIB’s decision to raise …
Recently, An Bord Pleanála made the disappointing decision to refuse planning permission for a €650m liquefied natural gas terminal in my county, citing it as “contrary” to government policy. This terminal would have played a crucial role in introducing much-needed competition to the wholesale gas market for electricity generation in our country. However, the government’s …
Consumers Demand Answers as Energy Companies Announce Cuts But Prices Remain High Despite recent announcements of price cuts by energy companies, consumers are questioning why they’re still paying exorbitant fees. Electricity prices in Ireland have consistently been the highest in Europe, raising concerns about the Commission for the Regulation of Utilities’ (CRU) effectiveness in protecting …
The number of early arrears cases increased by approximately 3,000 in the second quarter of this year compared to the same period last year, as reported by the Central Bank. The rise in arrears numbers is expected to continue in the coming months, with thousands of mortgage holders seeking assistance due to their inability to …
ECB Decision on Interest Rates: Will They Rise Again? There is uncertainty surrounding the European Central Bank’s (ECB) upcoming decision on whether to raise interest rates. After nine consecutive rate hikes, homeowners with tracker mortgages and first-time buyers have felt the impact of increased borrowing costs. Additionally, around 70,000 homeowners facing the end of fixed …
Brent crude has surged to $90, driven by Saudi Arabia’s decision to extend its unilateral oil production cut for another three months, aiming to stabilize the fragile global market. In a move that exceeded market expectations, Russia also extended its export curbs. Additionally, following a recent increase in excise duty on petrol and diesel in …
In a strategic move aimed at benefiting existing customers, Vodafone has recently introduced its ‘Red Family’ discount, offering cost savings for families who add broadband to their bill-pay mobile plans. This initiative comes on the heels of Vodafone’s decision to discontinue promotional and introductory offers for broadband customers, a move that is expected to save …
Energia, a leading energy provider, has announced a significant decrease in home energy prices by up to 20%, effective from October 3. This move comes as a response to criticism received by energy companies, including ESB’s Electric Ireland, Bord Gáis Energy, and SSE Airtricity, for their delay in reducing prices despite a notable drop in …