Energia, a leading energy supplier, is taking a significant step by reducing home-energy unit rate prices by up to 20% starting from October 3. This move puts pressure on other major energy suppliers such as Electric Ireland, Bord Gáis Energy, and SSE Airticity to follow suit and decrease prices for households. This decision by Energia …
Today, the bank failed to process payments for tracker mortgage customers who were sold to AIB by Ulster Bank. This failure led to direct debits scheduled for September 1 being postponed to September 5. AIB assured customers that there would be no negative impact on their credit ratings and no harm caused. However, the exact …
Avant Money, the financial lender, has decided to increase the interest rates on its fixed-rate mortgages. This change applies to the three, four, and five-year fixed rates, as well as the variable rate. However, the innovative One Mortgage option, which allows borrowers to lock in their rate for the duration of their mortgage, remains unaffected. …
Lender Responds to Government Criticism: ECB Rate Hikes Not Passed On As of September 8, interest rates are set to rise. However, Irish politicians, including Finance Minister Michael McGrath and Further Education Minister Simon Harris, have criticized banks for only partially passing on the European Central Bank (ECB) interest rate increases to savers. This has …
In July, there was a significant 22% increase in the number of new buyers who were approved for borrowing compared to the previous year. This growth is notable considering the recent surge in mortgage rates due to successive European Central Bank rate rises and the ongoing cost-of-living crisis that is putting pressure on consumer budgets. …
The price of both petrol and diesel is expected to reach €2 per litre. The Irish Petrol Retailers Association (IPRA), representing 400 independent petrol retailers, has urged a delay in the planned hike set for next Friday, citing the financial struggles faced by families dealing with back-to-school expenses, grocery inflation, and higher mortgage rates. The …
A recent incident involving AIB, the bank that acquired a number of Ulster Bank tracker mortgage accounts, has caused inconvenience to former Ulster Bank customers. A few customers had their direct debits, which were supposed to pay their mortgages, unexpectedly cancelled. This blunder follows a previous one where AIB mistakenly informed customers that their monthly …
According to financial adviser Vincent Digby of Impartial Financial Advice, Irish banks are benefiting from the low or no interest rates on household and company deposits, earning up to €5bn annually. Digby suggests that savers in Ireland are essentially subsidizing borrowers. However, pressure is mounting on the three main banks in the country to offer …
In a surprising turn of events, the bank has admitted to making a mistake and has assured homeowners that there will be no increase in their monthly payments. AIB, which had mistakenly informed mortgage customers that they were paying too little, causing them to face significant monthly cost increases, has apologized and promised to take …
According to the latest fuel survey information from AA Ireland, petrol and diesel prices are experiencing an upward trend. While prices remained stable last month, petrol prices have increased by 3%, with the average cost per litre rising from €1.65 to €1.70. However, diesel prices have seen a greater increase, rising by nearly 6% or …