 Permanent TSB mortgage rate rise dangerous and wrongheaded.
To all you people who say that the Green Party is not doing enough - Eat your hats.  Permanent TSB mortgage rate rise dangerous and wrongheaded / Latest news / News / Home - Green Party / Comhaontas Glas Quote:
Issued: 24 July 2009
Statement by Dan Boyle
Spokesperson on Finance; Social and Family Affairs
Senator Dan Boyle has criticised the decision of Permanent TSB to increase its mortgage lending rate
Green Party Finance spokesperson Senator Dan Boyle has criticised the decision of Permanent TSB to increase its mortgage lending rate, while European Central Bank rates remain unchanged and unlikely to change in the near future.
“This decision by a leading financial institution whose assets are being secured by the Irish tax payer can only be seen as dangerous and wrongheaded,” said Senator Boyle.
“If Permanent TSB will not respond to consumer sentiment on this question then I believe every legal means should be used to force the company to behave responsibly.
“While commercial realities would indicate that mortgage rates will eventually rise - and as Irish financial institutions become more profitable they will become less reliant on the Irish tax payer - this is not the time and these are not the circumstances for such a rise.”
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