Is mortgage interest relief a really bad idea?
Inside Business with Ciaran Hancock
00:00
The Right of the Lender to Increase Interest Rates
Most people whose mortgages were sold, they were originally prime loans when they were taken out. They were given out of normal mortgage rates in this country. So I have no objection at all to a subprime lender giving money at a higher rate to people who are taking out a mortgage. But I do object to prime borrowers who subsequently suffer difficulties in their repayments being charged a higher rate. And that is effectively what is happening. The central bank and the government should get involved and say, no, you must charge the rate that the original bank is making available. That's only fair.
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