An electricity levy that was previously suspended in 2007 has been revived and will now be imposed on all electricity customers come this October. The new levy will see an increase in electricity prices of up to 5% and plans to raise €156 million in order to improve the security of energy supply and for the development of renewable energy.
Leo Varadkar, the Fine Gael spokesman on energy said “Consumers and businesses are going to have to pay the bill for Eamon Ryan’s green energy revolution and his unwillingness to squeeze the ESB.” The Labour Party described the increase as…
After some digging by the Financial Regulator he found that not all lenders have been clear and upfront with their customers about the consequences and possible costs of switching from a Tracker to a variable or fixed rate mortgage.
As a result, the regulator has told lenders that they must show customers the difference in monthly repayments between the tracker rate and other mortgages rates, and the advantages and disadvantages of the various rates being offered. Not only that but banks have also been told that they need to warn and notify their customers clearly that they may not be able to switch back to their Tracker mortgage when being offered other rates.
Follow this, the regulator also said that he is…
Following the first round of increases earlier this year, EBS announced a further increase of 0.6% on its Standard Variable Rate mortgage this month which was followed on Friday by Irish Life & Permanent with a 0.5% increase on their Standard Variable Rate; it is only a matter of time before all banks follow suit.
So the question holders of SVR mortgages are asking… should I fix?
Last January when banks show signs of imposing increases the same question was asked…to fix or not to fix? Locking into a fixed rate is unlikely to save you money, but it will definitely