Arrears threat from AIB rate hike

The bank could see more of its customers fall behind on mortgage payments, write Jon Ihle and Emma Kennedy.

6th October, 2012
Arrears threat from AIB rate hike
David Duffy, AIB chief executive, and David Hodgkinson, AIB chairman.

AIB could see its mortgage arrears rise further after putting up interest rates on its standard variable mortgages for the second time in two months.

The state-owned bank, which had the lowest standard variable rate in the market before announcing its latest 0.5 per cent rate rise last week, could see more of its customers fall behind on payments in the next quarter as a result of the higher cost of borrowing. Central Bank research...

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