RTE 9 O’Clock News, 23rd July 2010, PTsb Rate Hike
In this piece the RTE 9 O’Clock News covered the recent announcement by PTsb to increase their standard variable rate mortgage by 0.5% from 3.69% to 4.19% This will impact c. 80000 customers who have mortgages with an average balance of €66000 meaning €5300000000 worth of loans will pay an additional €27m pa in payments, added together the three rate hikes over the last year levied upon their variable rate mortgage holders will add up to an additional €80 million euro. Other banks are set to follow the lead set out by the EBS the week before when they increased their rates by 0.6%. For mortgage news check www.mortgagebrokers.ie and www.mortgagebrokers.ie
