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Sub-prime Dependent Ireland Reels As Rates Begin To Soar

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http://www.businessworld.ie/livenews.htm?a...rollingnews.htm

Irish sub-prime lenders to raise rates

Thursday, August 30 16:05:46

(BizWorld)

A number of sub-prime lenders in Ireland have been forced to raise interest rates on home loans, it was confirmed today.

The Independent Mortgage Advisors Federation said Nua has already put up its rates while Ireland's largest sub-prime lender, Smart, is in discussions about increasing its rates.

Sub-prime loans are given to people who have poor credit histories or those unable to get a mortgage because of the nature of their work, such as the self-employed.

Our fellow bears in Ireland can begin singing "When Irish Eyes are Smiling..."

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