NIB raises standard Variable rates

cookie1977 · 08-11-2011 12:55PM #1

NIB has raised it's standard variable rate by 0.95% and will not pass on the ECB cut.
http://www.businesspost.ie/#!article/19410615-5218-4eb9-15ab-8a37d1519252

Pretty depressing for their customers.

Ben D Bus · 08-11-2011 01:11PM

Someone has to pay for their ECB+0.5% trackers

cookie1977 · 08-11-2011 01:23PM

It's a win win for the banks. They take massive risks and it's the tax payer (Irish or Danish) who bails them out and then they sting the tax payer again when they cant afford to pay for trackers they themselves sold us and they (the banks) benefit from the ECB rate cut. Oh to be a Bank

Speak Now · 08-11-2011 01:42PM

So what will the new variable new be after the increase?
Still lower than PTSB who are passing on the reduction (5.8%)?

Howjoe1 · 08-11-2011 01:48PM

Just after hearing this being discussed on Newstaks..they went to ad breaks...guess who?

Yes NIB...stating "......the specilaised Bank that gives you MORE"

too true MORE interest:mad:

cookie1977 · 08-11-2011 01:53PM

Jerry Seinfeld wrote: »

So what will the new variable new be after the increase?
Still lower than PTSB who are passing on the reduction (5.8%)?

True, but just because you're not as bad as the worst doesn't mean you're much better either.
Currently the variable rates at LTV>80% range from: 3.54 to 6.20. That's some spread to me.
http://www.mortgages.ie/index.cfm/spKey/home.mortgage_rates.html?orderby=product&orderdir=asc&product=2&lender=

NIB raises standard Variable rates

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