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Permanent TSB reporting strong interest in its tracker portability mortgage product

Permanent TSB has reported strong interest from customers in its tracker portability mortgage product, which will go live from Monday next. The new product will allow customers with tracker mortgages and customers in negative equity to trade up or down from their current homes –…

AIB to allow customers move and retain their tracker mortgages

General, Home, Mortgages & Money, Property News, The Seller

AIB has joined the growing number of banks that allow customers moving house to retain their tracker mortgages. In a letter to Fianna Fáil's finance spokesman Michael McGrath, AIB Chief Executive David Duffy said customers would pay the existing tracker rate, plus a further 1%…

13% of mortgage holders now in arrears

General, Home, Mortgages & Money, Property News

Almost 100,000 mortgage holders are now over three months behind on their repayments. New figures from the Central Bank show that almost 13% of all residential mortgages are behind on repayments. The figures released for the three months up to June show 98,000 residential mortgage…

Central Bank revises mortgage arrears code of conduct

General, Home, Mortgages & Money, Property News

The Central Bank has published a revised code of conduct on mortgage arrears, setting out how banks and other mortgage lenders should deal with customers in arrears. Among other changes it abolishes the previous limit of three contacts per month from banks to customers in…

Permanent TSB to introduce new pricing model for mortgages

General, Home, Mortgages & Money, Property News, The First Time Buyer

Permanent TSB is set to introduce a new pricing model for mortgages this week, which would mean lower rates for some new customers. However, those with deposits of 10% or less will pay more under the new system. The bank is understood to have briefed…

McGrath concerned about possible mortgage rate hikes

General, Home, Mortgages & Money, Property News

Fianna Fáil finance spokesperson Michael McGrath said he is becoming increasingly concerned at the government's complete indifference to speculation that the banks are planning another round of variable rate mortgage hikes potentially affecting up to 300,000 customers. Deputy McGrath was speaking following statements in the…

Variable rate mortgages expected to increase shortly

General, Home, Mortgages & Money, Property News

Homeowners on variable mortgages could be set for further pain as interest rates are expected to be hiked in the coming weeks. According to AIB chief executive David Duffy, they will increase their variable rates shortly in a move that would affect 70,000 customers. The…

KBC rules out debt writedowns

General, Home, Mortgages & Money, Property News

The chief executive of KBC Bank John Reynolds has said that the bank is not writing off debt for their most hard-pressed customers. Yesterday, the Governor of the Central Bank Patrick Honohan said permanent debt relief is needed for some people. He also said that…

Mortgage crisis a "national emergency", insists Martin

General, Home, Mortgages & Money, Property News

Fianna Fáil Leader Micheál Martin has described the deepening mortgage crisis as a 'national emergency which demands a significant response'. Questioning the Taoiseach during Leaders Questions yesterday, Deputy Martin said the mortgage crisis is deepening every single week and the Government is failing to tackle…

Lenders being more realistic with struggling customers

General, Home, Mortgages & Money, Property News

New data shows mortgage lenders are increasingly entering into more realistic repayment arrangements with struggling customers. The results of a new survey from the Professional Insurance Brokers Association (PIBA) show during the final quarter of 2012, nearly 70% of mortgage lenders were negotiating more realistic…