TITLE

BoI's fixed-rate rescue offer may cost borrowers thousands, warns broker

AUTHOR(S)
Brennan, Henry
PUB. DATE
November 2012
SOURCE
Money Marketing;11/15/2012, p68
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on the possibility that borrowers could pay additional interest payments if they accept an offer from the Bank of Ireland (BoI) to drop their fixed-rate mortgage early. An unnamed broker believed that while the Aldemore mortgage from the BoI has a lower fixed rate, borrowers would pay more than double the rate in the future. But a spokeswoman from the BoI clarified that clients are under no obligation to accept the offer.
ACCESSION #
83493707

 

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