Credit unions could be an option for mortgages from next year
Dozens of credit unions could be offering mortgages by the end of next year. A pilot project has been launched that will see a small number of the member-owned lenders offering home loans. If this proves successful it is expected that up to 30 credit unions could be issuing mortgages…
People paying ‘way over the odds’ for mortgages in Ireland
A Sligo campaigner for reform in the banking system says people here are paying over the odds because of lack of competition. Seamus Maye, of the Public Banking Forum of Ireland, was reacting to claims by the biggest mortgage lender in Germany that there is political resistance to it entering…
Doherty predicts AIB sale will lead to home repossessions, sales to vulture funds
A Donegal TD is claiming Allied Irish Bank will soon start repossessing homes that are in mortgage arrears to sell them onto vulture funds. Deputy Pearse Doherty, Sinn Fein spokesman on finance, says this will be one of the results of AIB shares being being sold off. It follows Finance…
Sinn Fein deputy says North West families fearful about taking on banks
A Donegal TD says families in mortgage arrears are afraid to take on the banks because they have no government protection. Pearse Doherty was speaking after receiving figures from the Central Bank showed that five families a day are losing their home in Ireland. He’s accused the government of allowing…
Call for Credit Unions service to incorporate mortgages and Council loans
A Sligo-based board member of the Irish League of Credit Unions says credit unions should be allowed get into the mortgage market, including giving loans to local authorities to provide housing. Seamus Kilgannon, who’s also a county councillor, was reacting to reports today that some credit unions are turning away…