AIB hikes mortgages as lavish BoI pay left intact

Outrage greeted the Government’s refusal to act against “double dealing” by bailed-out banks as mortgage holders were hit again with another mortgage hike while lavish salaries remained intact.

AIB and EBS increased their variable rates as Bank of Ireland boss Richie Boucher clung onto his €843,000 pay and perks package, prompting opposition parties to demand tougher action from Finance Minister Michael Noonan.

AIB is to raise its variable mortgage rates by up to 0.4%, effective from Jun 5, and the bank’s off-shoots, EBS and Haven, will increase theirs by up to 0.25% from Jun 1. The fear now is other banks will follow suit.