Lenihan stance gives green light to rate hikes
From Monday, the country’s largest mortgage lender, Permanent TSB, will increase its standard variable rate for customers by 0.5%, leading to concerns that other mortgage lenders will follow suit.
The bank could not rule out further increases. Its chief executive, David Guinane, said: “We didn’t take this step lightly; we took it after a long deliberation and we would be very reluctant to take that again. But with regards to a 100% guarantee, I’m afraid I can’t give that.”
