Tuesday, April 28, 2009

No reluctance for bailed out lenders to lend Tax payers money (In Ireland !)

Rescued UK banks sell cheap home loans to Irish

Banks controlled by British taxpayers are offering mortgages to first-time buyers in the Irish Republic at half the rate that they are available in the UK. Halifax, part of the Lloyds Banking Group, is charging 2.74 per cent for a two-year fixed-rate deal to first-time buyers in Dublin. A five-year fixed-rate deal would cost borrowers in its home town of Edinburgh 6.14 per cent.Royal Bank of Scotland (RBS) is charging 2.95 per cent for a new mortgage in Ireland; in the UK, it charges 5.99 per cent for a similar product.

Posted by jack c @ 12:17 PM (880 views)
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3 thoughts on “No reluctance for bailed out lenders to lend Tax payers money (In Ireland !)

  • Yeah – good call – cos the Irish Housing Market is in great shape, much like our own. Bring on Iceland and Spain – fack it lets lend to Zimbabwe.

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  • Presumably the credit markets are offering lower rates on Euros than on Sterling? That’s the only logical explanation.

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  • Obviously a big difference here.

    I would have thought the RBS would reduce its expansionist tendency after Fred went.

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