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That’s about 40 or 50 ”sneaky” mortgages for Bank Of Ireland’s family members and their crony chums to buy up prime repossessed properties in Dublin 4,
probably from Bank Of Ireland’s ”squeaky clean” receiver buddies.
Is this where all the bail out money (that you took from the taxpayer) is going?
Back to the good old days BOI?
Crony Banking.
Starve your existing mortgage customers and push them over the edge by increasing your interest rates?
While at the same time you are dishing out the loan offers on soft terms to your golfing buddies down at the 19th hole?
Maybe if they gave a figure of approvals rather than applications they might be able to claim “Support and commitment to the Irish market”. As it stands the statement holds absolutely no value. They may as well have said 1 trillion euro.
Paddy power should run a bet in how many new mortgages the banks have funded- I woul bet less than 100 standard mortgages. These guys are not in the mortgage business right now yet will push people through the hoops only to refuse thematic the last minute. In some way it would be immoral to lend money for a mortgage right now as the taxpayer is sponsoring the banks. Mind you the banks keep giving away money to sporting events for sponsorship -,this gives the guys at the top a nice corporate box to watch the games from while being served a nice wine and some finger food. God help them they need to relax some of the time with all the stress and strain on them at reduced salary to only 600k or 700k.
Should the government not be doing more to encourage people to rent rather than this obsession a lot of Irish people seem to have with owning their own home.
There is nothing wrong with retaining our home ownership culture. France has the highest rate of second home ownership in the world and it is not considered a problem. what is wrong with home ownership in principle? It leads to better maintained property in general, as owner occupiers are more likely to carry out repairs on their own houses than tenants.
There is also a shortage of rental properties on the market, especially anything a family can live in. Most are aimed at students or young couples. It would take a generation to change that rental stock.
What would be the point in encouraging people to rent something that does not even exist?
Where did boi get the 1.5 billion euro fund from in the first place & did they just announce losses of 180 million or similar last week on Their track record how are they allowed a banking licence
Where is the choice for consumers I think most people would move their mortgages to a clean new bank that’s not connected to the government and not for profit .
It’s good news folks! They’re admitting at last they have (our) money to lend. Let’s all go ask for a loan and report back how many of us get it. The fraud and banking conspiracy continues.
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