Sunday August 9, 2020

Minister for Finance warns banks over increasing buy-to-let interest

Minister for Finance Michael Noonan has indicated he may move against banks that increase rates on buy-to-let borrowers who are trying to stay on interest-only tracker mortgages due to cashflow difficulties.

14th May, 2011

Minister for Finance Michael Noonan has indicated he may move against banks that increase rates on buy-to-let borrowers who are trying to stay on interest-only tracker mortgages due to cashflow difficulties.

Noonan said the government was conscious of the difficult economic environment commercial mortgage holders were facing and said he would ask the regulatory authorities to examine this area to see if something could be done.

Noonan was responding to a parliamentary question from Fine...

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