Why 200,000 mortgage holders are 'at-risk' of paying increased rates.
"They're potentially going to fall into the pot," he said.
"Currently they're around 3.5% - so that would add about €111 a month to the average mortgage repayment. "Irish banks are coming under pressure to increase the 0% overnight rates they're offering to savers," he said."The German fintech, Trade Republic, and Dutch bank Bunq [are] offering overnight rates already in the Irish market of 1.5% to 2%.
"There's €150bn currently on deposit with the Irish banks; that would be under threat, and they really need to head that off in the coming months by increasing the rates from 0% to around a reasonable return of 2%," he said."Banks will look to preserve their margin between what they're offering to savers, and what they're charging to lenders".Mr Coan said the banks have to keep up with other offerings."We've got €150bn on deposit, whilst...
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