‘Cheated’ broker hits out against Bank of Ireland rate rise
You’ve had jam today, jam yesterday, and now you still want jam tomorrow. I have no sympathy at all as presumably people like this – particularly ones who rather stupidly put all their eggs in the same basket – will be quite happy to simply pass on the hike via increased rents for their far more financially prudent tenants who choose to live within their means, but who are probably, by now, living in properties that could do with serious renovation and investment from their cash cow-oriented landlords.
Savers have known the cost of low interest rates for years now. It’s now time for over-stretched mortgage holders to start paying the true price of their greed. For it is no more, and no less, than that. Greed.
There were far higher mortgage interest rate hikes back in the 80s, so if you can’t handle these small hikes now, then you’re not financially sound enough to have ever been given a loan in the first place.
Ciara
10 Mar 2013 | 17:06
Rate war continues as Chelsea BS launches 1.74% fix
Before recommending then you want to make very sure the borrower will be able to remortgage away in 2 years time and not get stuck on their horrendous SVR!
The Cynical Broker
11 Mar 2013 | 09:21
Landlords plan class action against Bank of Ireland
Would it be possible to file a complaint against the source systems as they offered the products in the first place; or how about my secretary because she inputted the case. BTL mortgages are non-regulated semi-commercial loans and will be treated as that in court.
It is up to the client and the solicitor to check the conditions of the offer and if they are not happy, not to complete. When I sign a contract for something I take responsibility – when are these greedy landlords going to appreciate that they cannot have everything their own way.
Why does there always seem to be one little parasite in a non-job looking to sue all and sundry when borrowers should be taking responsibility in the first place. My personal opinion is that the clause is unreasonable and BOI will struggle to have their decision upheld in court, especially in relation to the level of adjustment in the rate.
Pointed
13 Mar 2013 | 11:56
Govt urged to improve confidence in equity release
Finally there is some inertia from the government to recognise the value and place for equity release for today’s ageing population. Equity release can only take off (as it surely will do) when product providers start advertising it, the government supports it and advisers shout about it.
The clients and other professionals I see all recall the bad press from the 80s and 90s easily, but all accept and are happy with the protection clients now get once I explain the modern products.
It simply needs promotion. When the government start to get involved in a positive way like this, we can start to open the market up.
Andy Wilson, Andy Wilson Financial Services Ltd
06 Mar 2013 | 15:31
We visit the Robbie Fowler Property Academy
This is an obvious statement “Robbie Fowler is a multi-millionaire”. Of course he is, he would be anyway from football!
Chris
15 Mar 2013 | 14:00
Thank you for your comments this week.
