EBS putting up their interest rates - AGAIN???

changes

I heard that the EBS are putting up their mortgage interest rates for a second time in months by another 0.6%.

Thats 1.2% in the space of a few months - that is brutal :mad:

Kiera

Heard this today on the news. I'm with them

Einhard

Means nothing to me. I'm living at home with the folks!! Suckas....

:pac:

Tracker mortgages rule !!

jaffa20

very apt username OP

What does that bring them up to? Must be tough to deal with..

changes

Kiera wrote: »

Heard this today on the news. I'm with them

Yeah i'm with them too, they are takin the piss. I want to punch whoever signed off on this latest hike.

Bankers.... monsters of our time.

The Aussie

changes wrote: »

****.... monsters of our time.

Fixed that for you...

CreepingDeath

changes wrote: »

I heard that the EBS are putting up their mortgage interest rates for a second time in months by another 0.6%.

Doesn't affect EBS customers on tracker mortgages though :pac:

That's what you get for not knowing what a tracker mortgage is !
Sure they had TV adverts to try and educate ye.

Kiera

CreepingDeath wrote: »

Doesn't affect EBS customers on tracker mortgages though :pac:

That's what you get for not knowing what a tracker mortgage is !
Sure they had TV adverts to try and educate ye.

Yes but some of us bought in the middle of "Stephen" when house prices were down and trackers were done away with

ChewChew

Anyone know if this includes haven mortgages ltd? i know they are only part of EBS but I was curious as to whether it effected them too

CreepingDeath

ChewChew wrote: »

Anyone know if this includes haven mortgages ltd? i know they are only part of EBS but I was curious as to whether it effected them too

Yeah, they're going up 0.60% for men and 0.75% for women.
They have statistics showing that women default more on their loans.

Augmerson

rarnes1 wrote: »

Tracker mortgages rule !!

I don't know what a tracker mortgage is!

CreepingDeath

Augmerson wrote: »

I don't know what a tracker mortgage is!

You have to be able to follow footprints in the forest to be eligible.

Abrasax

So, does this mean we'll be paying more for our electricity now?

CreepingDeath

Abrasax wrote: »

So, does this mean we'll be paying more for our electricity now?

Not if you made the big switch to Bord Gais.

Voltex

Abrasax...best reply to a post Iv ever seen!!!:)

The feckin EBS stuck .8% onto their varibles when things got tough in 2008....now they are adding on again. I suppose im lucky enough that Im not in negitive equity...so i can look at changing my mortgage if needs be. Wait till the ECB start raising rates...then we will really see a depressed housing market.

mikom

1 in 2 First Time Buyers choose EBS*

Why? Because we’ve been helping first time buyers for over 75 years and in that time we’ve learned what matters most to you – sound financial advice and a simple and straightforward application process.

Indeed.....

F*cking BASTARDS!!

Mike 1972

Kiera wrote: »

in the middle of "Stephen"

WTF ?

Sugar Free

Mike 1972 wrote: »

WTF ?

The Boards.ie term for the recession. Can't remember exactly how it came about.

Barr

Greedy feckers , thats twice this year.

unknown13

Welcome to the World of the ESB

Tilt Gone

That's terrible news... But some good news is I finally got off my fixed rate of 5.14% and from this month am now enjoying a monthly rate of 2.25% interest. **** Yeah

KungPao

God damned Electricity Board Supply.

artanevilla

CreepingDeath wrote: »

Not if you made the big switch to Bord Gais.

Should that not be Rodb Isag?

Biggins

I have lost ANY respect for the banks in this country COMPLETELY.
Like many an Irish politician, they are NOTHING but robbing, interested only in self-gain fcuks!

wyndham

About time.

A further nail in the coffin of outlandish property prices and a step towards self sufficiency for the banks.

dotsman

Biggins wrote: »

I have lost ANY respect for the banks in this country COMPLETELY.
Like many an Irish politician, they are NOTHING but robbing, interested only in self-gain fcuks!

How so? You believe we should continue to flog a dead horse? They are a business, not a charity. You can't expect them to continue making a loss and then complain when they have to turn to the government for help! Either you allow them return to profitability and stand on their own two feet, or keep screwing them and have the government "bail them out". The money has to come from somewhere.

changes

Well maybe if they couldn't stand on their own 2 feet without needing a bailout (from our taxes) then they should have been let fold and our mortgages sold to some other financial institution.

Sea Sharp

What were the interest rates in the 80s?
The writings been on the walls for ages, they're going up and will go up further.

Will this property crash ever hurry up and level out. I want my 40K 2 bed-room apartment god-dammit!!

Biggins

dotsman wrote: »

How so? You believe we should continue to flog a dead horse? They are a business, not a charity. You can't expect them to continue making a loss and then complain when they have to turn to the government for help! Either you allow them return to profitability and stand on their own two feet, or keep screwing them and have the government "bail them out". The money has to come from somewhere.

If they can't stand on their own two feet, I expect them to go under.
No one is bailing the rest of the country out as they cannot pay their food bills, esb bills, mortgages, gas bills, tax bills (a new one invented nearly every month!), and so on...

You can't expect them to continue making a loss and then complain when they have to turn to the government for help!

Yes I bloody can.
If the stupid fcuks can't run their own business - why the fcuk should I be forced to bail the schites out without my express permission?
...And don't start with that spiel about "well if the banks collapse, we all will be effected..."

As you rightly point out - THEY ARE A BUSINESS - NOT A CHARITY!
Even holes end somewhere - with these fcuks it don't!

They either sink or swim but get the fcuk out of my pockets and stop with the TD's that are doing it also, robbing from my pockets!

Bastards the whole lot of them!

K-9

Biggins wrote: »

I have lost ANY respect for the banks in this country COMPLETELY.
Like many an Irish politician, they are NOTHING but robbing, interested only in self-gain fcuks!

You do realise if they don't raise rates, the taxpayer will have to stump up more money?

Biggins

K-9 wrote: »

You do realise if they don't raise rates, the taxpayer will have to stump up more money?

O' I realise that - and so do they.
They fcuks have us over a barrel - and they know that too!

K-9

Biggins wrote: »

O' I realise that - and so do they.
They fcuks have us over a barrel - and they know that too!

The EBS was relatively decently run though. Unlike Anglo or Irish Nationwide we may actually get to see some of the money back.

dotsman

Biggins wrote: »

If they can't stand on their own two feet, I expect them to go under.

They can stand on their won two feet, it's just that requires ridiculously high interest rates that have a negative affect on the economy.

Biggins wrote: »

No one is bailing the rest of the country out as they cannot pay their food bills, esb bills, mortgages, gas bills, tax bills (a new one invented nearly every month!), and so on...

No one is "bailing out" the banks! Despite what the socialists and alarmists might call it, what is happening the banks at present is not a "bailing out" (which usually infers some sort of "helpful thing that improves the situation for the beneficiaries"). The current situation is akin to flogging a dead horse with the banks being kept going so they can be raped by the politicians/media/public. The banks have to survive, as without them, there is no economy. If the banks collapse tomorrow morning, by tomorrow evening, Ireland is a Third World country.

Biggins wrote: »

Yes I bloody can.
If the stupid fcuks can't run their own business - why the fcuk should I be forced to bail the schites out without my express permission?

So, you expect them to make a loss, but cannot fathom how that can be kept going as a going concern. You are failing to grasp very basic logic here. Perhaps you should calm down, take a deep breath, relax and have a long think about it. Banks are not the first entities to be in this situation. They are not actually to different from farmers. For farms/banks to be profitable, they would have to their customers a lot more than they currently do, for framers, the EU subsidises them in an effort to keep food prices low. With banks, they were using the property boom to fund the free banking, cheap loans, high interest deposits etc. Now that that is over, not only do they need to replace it, thy also need to fill the hole left by it (basically the effect the property crash has had on the banks is to leave a hole larger than all the profits they ever made during the boom).

Either banks are allowed to charge what they want, lend to whom they want and make a profit, or else they need to be subsidised. Unlike when a farmer is subsidised and they get to keep the money, the main banks, who will survive, will have to somehow repay these subsidies!

Biggins wrote: »

...And don't start with that spiel about "well if the banks collapse, we all will be effected..."

Oh good, you have heard it before. Can I suggest you accept it? If you fail to understand why this is so, please feel free to ask.

Biggins wrote: »

As you rightly point out - THEY ARE A BUSINESS - NOT A CHARITY!
Even holes end somewhere - with these fcuks it don't!

So you are happy to get rid of free-banking? Are you happy to pay an extra 5% on your mortgage? As long as they are being forced to offer one of their main products for free, and sell their other main product below cost, there will be a hole.

Biggins wrote: »

They either sink or swim but get the fcuk out of my pockets and stop with the TD's that are doing it also, robbing from my pockets!

Bastards the whole lot of them!

I'm sorry you feel that way. From your post, and previous posts, can I suggest you relax a little? You seem to be very angry and upset and I don't think it's doing you any good. You only get one life, why not enjoy it? Go for a walk, meet up with an old friend, make love to a beautiful woman. You will feel much better after it. Seriously, you need to smile! It's ok, the world is not out to get you!

Biggins

dotsman wrote: »

(1)They can stand on their won two feet, it's just that requires ridiculously high interest rates that have a negative affect on the economy.

No argument there.
Because of their screw-ups, the rest of the public has to pay!
(Meanwhile they still get their MASSIVE personal pays and perks/bonuses)!

dotsman wrote: »

No one is "bailing out" the banks!...

Say What!!! Where have you been living for the last few years?
Even our government ministers on both sides, in and outside the Dail have referred to our "BAIL OUT!"

dotsman wrote: »

So, you expect them to make a loss, but cannot fathom how that can be kept going as a going concern. You are failing to grasp very basic logic here. ...Banks are not the first entities to be in this situation...

You make a valid point BUT how long DO we have to continuously have to BAIL OUT these particular businesses?
How long are we going to be forced into paying for their mistakes AND STILL (!!!) they are allowed hang on to their jobs/perks/pensions!

dotsman wrote: »

...Either banks are allowed to charge what they want, lend to whom they want and make a profit, or else they need to be subsidised. Unlike when a farmer is subsidised and they get to keep the money, the main banks, who will survive, will have to somehow repay these subsidies!

They are at the end of the day either a business or a non-profit making organisation that needs help to sustain its services.
We GOT to say "well hold on a feckin' minute - the banks are not both for ever and allowed to behave as if they are so!"
God sake - when are we going to say "ENOUGH!"

dotsman wrote: »

...Oh good, you have heard it before. Can I suggest you accept it? If you fail to understand why this is so, please feel free to ask.

See above!

dotsman wrote: »

So you are happy to get rid of free-banking? Are you happy to pay an extra 5% on your mortgage? As long as they are being forced to offer one of their main products for free, and sell their other main product below cost, there will be a hole.

I'm paying a hell of a lot more right now for the line of work I do.
Meanwhile these fcuks just keep robbing from my pockets, bank accounts and family attempts at saving!
If something is not profitable for a business - they should dump it. Its not rocket science!
After all they are supposed to be a business! Lesson 101: cut your losses or get out of the line of work your in/doing if you want to stay afloat!
Nowhere did it say in any unofficial manual that a business can always rely on the public to bail you out if/when you fcuk up - repeatedly!

dotsman wrote: »

I'm sorry you feel that way. From your post, and previous posts, can I suggest you relax a little? You seem to be very angry and upset and I don't think it's doing you any good. You only get one life, why not enjoy it? Go for a walk, meet up with an old friend, make love to a beautiful woman. You will feel much better after it. Seriously, you need to smile! It's ok, the world is not out to get you!

Nice sentiment and I appreciate the nice thought's towards myself but I am stressed, worried and paying more money out by the minute nearly as fast as BP was dumping oil into the sea!
...And a lot of it I would bet my ass is keeping their useless asses still in their rich chairs!

Ulysses Gaze

Just wait until NAMA doesn't make money back on all the wonderful property loans it's taken on. Then NAMA has the authority to place a levy on the banks to make up the difference between the original loan and what the property it's secured against is sold for.

Who do you think the bank will be charging to service this levy?

Simply put, the Bank of Ireland should have been nationalised, all other deposits transferred to it and guaranteed by the Government and other banks, and the hedge fund that was Anglo, should have been allowed collapse.

orourkeda

rarnes1 wrote: »

Tracker mortgages rule !!

Tracker mortgages make my shaft go hard

mikemac

EBS have the best savings interest rate at the moment for a regular deposit savings account.

For years that was Rabobank but EBS offer double that.
So a decent offer for savers.

Maybe they could increase the savings rate again if the mortgage division gains more money from this 0.6% rise.
Hope so, some bit of good news for savers, not a lot of high interest rate offerings out there. Well not high interest, at least a competitive product

dotsman

Apologies for the delay in replaying. Was out taking a walk on a beautiful day and meeting up with an old friend. Hopefully tonight will see a result regarding the beautiful woman:D

Biggins wrote: »

No argument there.
Because of their screw-ups, the rest of the public has to pay!
(Meanwhile they still get their MASSIVE personal pays and perks/bonuses)!

OK, firstly, their screw-ups are our screw-ups. The only thing they did wrong is the same thing we all did wrong. We somehow fooled ourselves into thinking that the first 7 years of this decade were normal. We demanded higher wages, borrowed more and spent more assuming that the ridiculous money of those years was normal. The only difference between us and the banks is that we deal in thousands (and hundreds of thousand when it comes to buying a home), whereas they deal in millions and billions. It's the exact same human error, just with much larger consequences.

I sometimes feel that there's a whole bunch of people that think there was some huge conspiracy or that all this was planned, or that there were huge amounts of devious actions etc. Besides the few (looking at Fingleton/Fitzpatrick etc), there were no clandestine operations. It was all BS optimism - sanctioning loans based on optimistic assumptions, cutting corners, not out of any evil intent, but because they were deemed to be beraucratic, unnecessary and getting in the way etc.

With regards the "massive pays and perks/bonuses", I assume you are referring to the tiny < 1% at the very top. If so, I am in agreement, but there's no difference at the top level of banking as their is with any other industry such as health, government, planning, airlines, telecommunications etc. In fact you will notice that most of the board of directors of Irish banks also sit on the boards of a lot of other Irish companies and public bodies, all being mismanaged with little oversight.

Biggins wrote: »

Say What!!! Where have you been living for the last few years?
Even our government ministers on both sides, in and outside the Dail have referred to our "BAIL OUT!"

I have been living in Ireland, reading a wide variety of newspapers, watching countless tv specials on "the banks", reading and participating in message boards etc. I am very tuned in to what has been happening over the last few years. Of course the politicians, media, unions and every dog on the street is referring to it as a "bailout". Everyone wants a bad guy. Everyone needs to deflect attention from their own contributions to this mess. Despite popular thinking, this money is not going towards people's wages etc. The money is not going into anyone's hands. It's simply plugging the hole that was being created over the early/middle part of the decade that was masked by the property boom.

Had all this this been managed correctly, it would have costed less, and resulted in a large profit for the people. Instead of kicking a dog while he's down, which the government is doing (to pander to the mob), it could have invested wisely and turned this around to everybody's benefit. But to manage this correctly would have involved making some very unpopular decisions in the short term, with the benefit being in the long term (something Irish politics/society is incapable of doing)

Biggins wrote: »

You make a valid point BUT how long DO we have to continuously have to BAIL OUT these particular businesses?
How long are we going to be forced into paying for their mistakes AND STILL (!!!) they are allowed hang on to their jobs/perks/pensions!

See above regarding "bailout". We are not paying for "their mistakes". Our mortgage rates are still very low. We have been benefiting greatly from the over-competition and now it's payback. All the money we saved from the loss-leading products now needs to be paid back.

Biggins wrote: »

They are at the end of the day either a business or a non-profit making organisation that needs help to sustain its services.
We GOT to say "well hold on a feckin' minute - the banks are not both for ever and allowed to behave as if they are so!"
God sake - when are we going to say "ENOUGH!"

We will say "ENOUGH" when we say "Yes, I am willing to pay for my day-to-day banking. And, yes, I am willing to pay interest on my mortgage that will result in it been profitable and worthwhile for the bank to lend me that money.

Don't get me wrong, I don't want interest rates to rise. Only half my mortgage is on a tracker, the rest variable. But I do understand why the banks need to raise the interest rates. Either we let them become profitable, or we keep subsidising them.

Biggins wrote: »

See above!

[Looks up]

Biggins wrote: »

I'm paying a hell of a lot more right now for the line of work I do.

I've taken a 50% pay cut. My apartment is worth less than the outstanding mortgage. I understand you being pissed off with the situation, but blaming "the banks" is both incorrect and getting you nowhere.

Biggins wrote: »

Meanwhile these fcuks just keep robbing from my pockets, bank accounts and family attempts at saving!

Who, the banks? How are they robbing you?

Biggins wrote: »

If something is not profitable for a business - they should dump it. Its not rocket science!

You mean mortgage rates below 5-6%? Fine, I'd like to see how you would react if they did that. Lending cheaply to businesses in trouble in this environment? Fine, let's dump that and see even more bushinesses collapse. Cash services? Sure, we can live without them and go back to bartering for goods.

Don't you get it? Providing the banking services to the general public that the banks have over the past decade are unprofitable, but they were masked by the banks earning such huge (temporary/misleading/false) profits in property lending.

Biggins wrote: »

After all they are supposed to be a business! Lesson 101: cut your losses or get out of the line of work your in/doing if you want to stay afloat!
Nowhere did it say in any unofficial manual that a business can always rely on the public to bail you out if/when you fcuk up - repeatedly!

Fine, you want to shut down the banks? Shut down the economy? There's not enough caves for us all to live in, ad a massive shortage of animals to hunt with our bow and arrows!

Biggins wrote: »

Nice sentiment and I appreciate the nice thought's towards myself but I am stressed, worried and paying more money out by the minute nearly as fast as BP was dumping oil into the sea!!

Here's a little something for you:)


P.S. Heading out again shortly to try and secure that beautiful woman so won't be able to respond to any reply until sometime tomorrow!

Biggins

dotsman wrote: »

...Long good post...

Won't go through it all point for point, we'd be going back and forth till the cows come home - but thats enough about Jordan and co!

...Just a couple of points though.

Who, the banks? How are they robbing you?

By taking money to be used in the bailouts.
Where does that money come from? The public, thats me and you.

Fine, you want to shut down the banks?...

Not them all. Only the ones that are consistently making a loss and/or run by bad management.

Canada by the way at the same time as ourselves, had their version of Celtic Tiger and at the same time, had their economy be effected by the domino effect of America banks crash, property loss, etc.
They however in the good intervening period did what we didn't.
They made many, many changes to their laws in regards banking, saving a small% of every Canadian dollar that passed thru their finance system (and acknowledged the good times was not going to last for ever so did this), tightening regulations and giving the independent supervisory bodies the stronger "teeth" to enforce them.
The result? Not ONE bank had to be bailed out when everything went pear shaped beginning with the states and after that.

What did we do? Absolutely feck all!
Our leaders was too busy as McCrevy said to do "spend, spend, spend..."

So you should be able to understand why a lot of Irish people (including this muppet) too are justly angry!