McGrath warns of impact on borrowers of rate hikes in non-bank sector

Michael McGrath has issued a sharp warning to non-bank lenders about their mortgage interest rates after a series of “robust meetings” with Pepper Finance and Mars Capital, the Business Post has learned.

The Minister for Finance has challenged the companies which together hold hundreds of millions of euro-worth of loans relating to tens of thousands of Irish homes. The mortgage holders are trapped on variable rates and high-margin trackers, and now face having to pay ...

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