The Bank of Ireland has come under fresh fire for raising the rates of its tracker mortgages after Andrew Tyrie, the chairman of the influential Treasury Select Committee (TSC), wrote to Martin Wheatley, managing director of the Financial Services Authority (FSA), to ask what action the regulator will be taking.
About 13,500 of Bank of Ireland's UK customers will see their monthly mortgage costs soar as a result of the changes being made to some of its base-rate tracker deals, according to the Guardian. Some people's bills will double or triple. Almost half hold standard residential home loans, while the rest are buy-to-let landlords, some of whom have perhaps as many as a dozen or more mortgages. Tyrie (pictured) has written to Wheatley, who is also chief executive designate of the incoming Financial Conduct Authority (FCA), to say he is "very concerned" about the recent action by the Bank o...
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