Monday 23 October 2017

Give us our cut

• I recently emailed the EBS in relation to its inaction in passing on the 0.25pc interest rate reduction announced by the European Central Bank in early July. I asked EBS when it was going to pass on the 0.25pc and was informed that ". . . all tracker rate mortgages will reduce in line with the ECB decrease -- all other variable rates are currently under review. We hope to have a decision made shortly."

When I asked "when exactly do you mean?, I received another email, stating: "There is no defined time period associated with this review; however, your query/comments have been escalated to the appropriate team."

I really think that Finance Minister Michael Noonan and his band of back-slappers need to get a grip and put pressure on these parasitic bankers. My variable mortgage rate is currently 4.33pc and a 0.25pc reduction would be greatly appreciated.

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