Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Interest rate hike - 30 day notice

  • 13-08-2011 6:14pm
    #1
    kevin101
    Registered Users, Registered Users 2 Posts: 162 ✭✭


    I read somewhere recently that now when Irish banks want to increase their variable interest rates on mortgages that they have to give 30 days notice to their customers. I saw Bank of Ireland yesterday increase their rate by .5% effective from 22nd of September. Is this correct?


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    kevin101 wrote: »
    I read somewhere recently that now when Irish banks want to increase their variable interest rates on mortgages that they have to give 30 days notice to their customers. I saw Bank of Ireland yesterday increase their rate by .5% effective from 22nd of September. Is this correct?

    Correct.
    Notice can be in the national media afaik- they normally will send you a letter in the post advising you of the new rate, and your new repayment amount, however sufficient notice in the media is enough to cover them vis-a-vis the 0 days notice.

    BOI have started sending variable rate mortgage holders details of their new mortgage repayments (I've gotten 2 already).

    S.


Advertisement