Martin: Mortgage borrowers getting ‘screwed’ by banks

Mortgage borrowers are getting “screwed” by banks who should be forced to change their variable rates by the Government, the Dáil has heard.

Taoiseach Enda Kenny said he expects banks to reduce their variable mortgage rates, which in some cases are double the rates than other European countries.

He said he expects variable rates to fall below 4% across the board and that if they don’t, Finance Minister Michael Noonan has options open to him in the budget.