Fianna Fáil: Rip off of variable rate mortgage holders must end

Fianna Fáil say the “rip off” treatment of variable rate mortgage holders should be at the centre of the general election campaign.

The party’s finance spokesman Michael McGrath says more than 300,000 households are paying rates that are double the European average for equivalent mortgages.

“The Government has failed miserably to deal with this issue. [Minister for Finance] Michael Noonan has huffed and puffed. He’s met with the banks but he’s been bought off very easily indeed,” he said.