Why are many Irish borrowers paying so much more for their mortgages?
Smart Money: Irish borrowers are paying almost twice what their counterparts in the EU are paying
Irish ortgage borrowers are still paying way more than their counterparts elsewhere in the EU
The banking crisis is long over, but Irish borrowers are still paying over the odds for their loans.
The latest Central Bank figures show that Irish mortgage borrowers are still paying way more than their counterparts elsewhere in the EU,with average rates of 3.21 per cent in May on new mortgages, compared to a 1.8 per cent euro zone average. That is €2,000 to €2,500 more a year for the Irish borrower.