Central Bank’s warning, mortgage drawdowns, and Ulster Bank’s pay rises
Business Today: the best news, analysis and comment from ‘The Irish Times’ business desk
Sinn Fein’s finance spokesman Pearse Doherty has drafted a bill that would prevent banks here from selling a mortgage without the borrower’s consent. Photograph: Gareth Chaney Collins
The Central Bank of Ireland has warned the Department of Finance that a proposed new Bill from Sinn Féin that would prevent a bank from selling a mortgage without the borrower’s consent could trigger unintended consequences, such as an increase in interest rates. Joe Brennan has the details.
On a brighter note, Joe Brennan reports that staff at Ulster Bank are in line for pay increases of up to 3 per cent, following agreement with the Financial Services Union.
The value of mortgages taken out in Ireland last year rose nearly 20 per cent to €8.7 billion, with first-time buyers representing the biggest segment of the market. Eoin Burke-Kennedy reports.
Aughinish Alumina’s owner could invest further in the Irish aluminium manufacturer after the US lifted a threat of sanctions from the group, writes Barry O’Halloran.
In her weekly media and marketing column, Laura Slattery takes a look at awards sponsorships and highlights how it can often be a hard sell for those signing the cheques.