Monday May 25, 2020

Report to find banks not overcharging on interest

Ian Guider

Markets Editor

9th May, 2015

A Central Bank report on the cost of mortgages is likely to find banks are not charging exorbitant variable interest rates.

The Central Bank was ordered by the government to look at the disparity in standard variable rates (SVRs) in Ireland and the euro area. The government has called on the major banks to reduce their rates to alleviate pressure on mortgage holders.

Although standard variable rates here are about 4 per cent (compared with...

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