EBS to pile pain on mortgage holders with rate rise

independent.ie/national-news … 78711.html

I don’t know what they are going to do if interest rates ever got back to 7% god forbid.

:open_mouth:

Maybe there is hope yet that the banks are going to make a profit. posting.php?mode=reply&f=4&t=38909#

I don’t understand this line at all. Bad journalism? Did PTSB do it on the sly? What does it mean? :question:

I don’t quite understand the timing of the EBS move. I am presuming that it is looking at 3 month euribor rates to get a reference from? And that those have already factored in an ECB rise next month? In which case, EBS is being ‘kind’* to its customers by giving them notice now.

*hard to find a word here, ‘honest’? ‘straight-up’?

One possible explanation could be that Charlie noticed yesterday, in his capacity as Personal Finance Editor, a change that occurred in the past few weeks?

I don’t understand the spread between AIB variable rates and EBS ones

they are after all the same thing now (in theory) :angry:

Indeed, very puzzling it is although any one i have spoken to says the ebs has no money to lend. Aib’s rates seem particularly low though in the current climate, and it’s all well and good saying build in a 2% rate rise, but if that’s the case you’d be far better not buying now as the prices will have to fall to meet the rate rises.

That would be a very kindhearted explanation.

I would guess it’s FUD and they’re trying to use the cover of a possible rate rise announced next month to camouflage their own rise announced this month. If they’re lucky their customers will get the EBS rate rise letters just after there’s been a big hoohaa over the ECB rise.

Then when those customers get a second letter the following month they can be fobbed off with - “that’s the ECB rise - weren’t you paying attention”.

I used be with EBS and I seem to remember they’ve used this technique before.