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Mortgage Increase

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  • 30-04-2010 11:00am
    #1
    Shanio100
    Closed Accounts Posts: 64 ✭✭


    Hey guys
    Just looking for a quick opinion on this. I just received a letter from my mortgage provider (ICS) advising that the mortgage is increasing this month. Apparently (I actually haven't see letter yet as I'm in work still) the rate is increasing by 0.6%. Does that seem high to anyone else? I understand that as i'm on the standard variable we were all going to be hit with an increase soon but I was expecting more along the lines of 0.25 - 0.5% (max).

    Also, I know that ICS are a part of BOI, and I dont remember hearing them saying they were increasing their rates as of yet. I suppose my question is are the provider allowed pass on different increments to different customers?

    Thanks in advance.


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  • Options
    #2
    seamus
    Registered Users Posts: 68,317 ✭✭✭✭seamus


    Bank of Ireland announced a couple of weeks back that they were increasing their rates by 0.5% and ICS announced that they were to increase theirs by 0.6%

    http://www.rte.ie/news/2010/0409/boi.html

    ICS are to be sold by BOI, so I imagine they tacked on an extra 0.1% to make the company look more attractive to a potential buyer.


  • Options
    #3
    cynder
    Registered Users Posts: 4,128 ✭✭✭cynder


    we got the letter from boi increased by 0.5 %.... f*****s


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