SF accuses bankers of pulling wool over Gov't eyes about interest on loan breaks

Sinn Fein has accused fat cat bankers of pulling the wool over the eyes of Paschal Donohoe and Leo Varadkar about interest charged on mortgage breaks.

During the May 11 meeting, the minutes of which were obtained by the Sunday Business Post, Mr Varadkar said that he did not want the banks to make any additional profits from customers. He said: “A story in yesterday’s Business Post reported minutes of a meeting held on May 11th between the five retail banks, the Banking and Payments Federation, the Minister for Finance and then Taoiseach Leo Varadkar.

“For every one of them, interest will be charged over the payment break period, increasing their repayments and outstanding balance by up to €4,000. “In several EU member states, banks are not charging interest for mortgage payment breaks, in full compliance with the European Banking Authority Guidelines. This is an issue I have repeatedly raised since March.Simply pop your e-mail into the box at the top of this article and get all the latest news and entertainment direct to you

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