Monday 24 April 2017

COMMENT: Bank was cynical in timing its rise

Charlie Weston Personal Finance Editor

FEW institutions are as cynical as banks. Permanent TSB choose the day two former Anglo Irish bankers were due to be sentenced to announce a mortgage rate rise.

The timing smacks of bank bosses thinking it was a good day to bury bad news.

And it is not as if the bank's move to increase the variable rate for its 70,000 existing borrowers could be justified on the basis of the cost of lending for banks.

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