BANKS are fighting to keep the pressure on hard-pressed homeowners by resisting proposed new rules to protect mortgage holders.
They have written to the Financial Regulator claiming that mortgage holders will abuse the code he is planning to impose on financial institutions.Banks fight mortgage code - Property & Mortgages, Personal Finance - Independent.ieUnder the proposals there are guarantees that homeowners who do a deal with their lender won't have their homes repossessed. The code also prevents banks taking customers off trackers mortgages and putting them on more expensive variable rates.
These banks seem to forget it is the people of this country that own them. They are losing money with tracker mortgages and have been trying to get people off them.
Now they are saying the people in the country can't be trusted as we will spoof them in this code. What have they done to us over the course of the last several years?