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Interest Rates

Drummerboy2 · 2009-05-18 10:58:05

A work colleague just mentioned that he has been informed by Halifax are increasing the interest rates on their variable loans. Does this mean that the Irish banks will soon follow and raise theirs?

18-05-2009 10:58am

#1

Drummerboy2

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A work colleague just mentioned that he has been informed by Halifax are increasing the interest rates on their variable loans. Does this mean that the Irish banks will soon follow and raise theirs?

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Comments

#2 18-05-2009 11:36am

spank_inferno

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they could, but as base rates are different for the UK & Ireland we cant say for sure.

With the base rate in the UK being so low perhaps Halifax are raising their loan rate to give them a bit of elbow room, as their margins must be razor thin at the moment.... (the imcome from lending vs the cost of acquiring that capital to lend in the first place)

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