Friday, Jun 13, 2008
AIB votes Yes to mortgage rate hikes.
FinFacts Ireland: AIB Bank hikes mortgage rates
Now that the Irish referendum on the Lisbon treaty is over, the housing crisis resumes. Allied Irish Bank, have increased first-time mortgage rates by 0.40%, and imposed smaller increases on other mortgages. However, they will still lend up to 92% loan-to-value, and claim no restrictions on mortgage availability. (Now, about the restrictions on customers' ability to pay those mortgages..?)
(This is relevant to HPC, since the Irish situation is a funhouse mirror reflection of the UK situation. The housing market in Dublin is insane, with average 3-bedroom houses typically priced in the millions.)
Posted by brian t @ 01:49 PM (266 views) Add Comment
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