Saturday August 8, 2020

Credit crunch forces IL&P to consider rates

Irish Life & Permanent (IL&P) may be forced to raise mortgage lending rates for a second time - even in the absence of an ECB rate hike - if margins continue to suffer from the credit crunch, the company’s chief executive has warned.

15th December, 2007

Irish Life & Permanent (IL&P) may be forced to raise mortgage lending rates for a second time - even in the absence of an ECB rate hike - if margins continue to suffer from the credit crunch, the company’s chief executive has warned.

IL&P chief executive Denis Casey, whose Permanent TSB banking subsidiary is the country’s number two mortgage lender, told analysts last week that the bank’s recent decision to unilaterally...

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