Huge Variation in Interest Rates Needs Explaining – IFA
IFA Farm Business Chair Bill O’Keeffe has highlighted the ongoing issue of the variations in interest rates between Irish lenders. “At the moment farmers who have loans with the likes of AIB and MilkFlex are incurring interest rates of up to 3% and more above what is available with other lenders. A 3% higher interest […]
Mortgage To Rent cases on the rise in Offaly
Hundreds of Offaly householders in unsustainable mortgage arrears and at risk of losing their homes are being given fresh hope of a solution to their problems. Central Bank figures for Offaly show over 570 family home loans in arrears for two years or more, while 66 Mortgage to Rent cases have either been completed or […]
Banks Must Support Farmers Due To Extreme Poor Weather
IFA Farm Business Chairman Martin Stapleton has written to the three main banks urging them to support their farming customers who are facing further problems with the continued bad weather. The Farm Business Chairman welcomed the announcement by AIB this week of a number of options to support farmers through the current difficulties. […]
Taoiseach telling families to calm down is an insulting reply to PTSB mortgage crisis – Mattie McGrath TD
Independent TD Mattie McGrath has called on the Taoiseach, Leo Varadkar, to provide significantly more robust guarantees for the protection of families that are likely to be affected by the Permanent TSB mortgage crisis. Deputy McGrath was speaking after the Taoiseach attempted during Leaders Questions to insist that concerns were being exaggerated around the possible […]
IFA Launches Framework For Negotiations With Vulture Funds
IFA President Joe Healy today (Wed) announced the key principles the Association will apply in dealing with vulture funds in support of farmers with credit difficulties, as well as a strengthened farmer support network to deal with individual credit cases. The farm leader said that he wanted to send a strong and clear message that anybody […]
Important For Banks To Provide Early Intervention To Farmer Customers Facing Cashflow Difficulties
IFA Farm Business Chairman Martin Stapleton has acknowledged the commitment by Ulster Bank to provide options to alleviate cashflow pressures on farmers, including interest only repayments and extending working capital. Martin Stapleton said Ulster Bank’s initiative is important given the severe income pressures on farms this year. He advised farmers who are facing difficulties […]
Turn Up In Court And Fight For Your Home, Or The Bank Will Take It!
At a seminar this week for mortgage-holders in distress, The Hub-Ireland, an expert group campaigning to stop evictions, urged anyone facing possession proceedings to turn up in court and fight the banks. “There are many defences you can use,” said Byron Jenkins, “but you must show up. If you don’t, the bank automatically gets your […]
Banks Must Work Proactively With Farmer Customers During Difficult 2016 -IFA
IFA Farm Business Chairman, Martin Stapleton, has written to the banks challenging them to engage actively with their farmer customers now, and to support them in tackling the short-term cashflow pressures that will be experienced by farmers across many sectors in 2016. Mr Stapleton said, “We have made clear to the banks that they […]
Ulster Bank Commits to Seek Solutions With Farming Customers Affected by Proposed Loan Sale – IFA
Following a series of meetings, IFA has received a commitment from Ulster Bank to further engage with farmer customers in loan arrears prior to any sale of their loans, IFA National Chairman has said. The meetings IFA held with Ulster Bank were in response to the bank’s announcement last month of its plans to […]
