Donegal Deputy Pearse Doherty has said that new data shows banks are ripping people off with sky-high mortgage interest rates.<\/p>\n
The Sinn Fein TD said banks are making obscene profits by overcharging homeowners already struggling to meet their mortgage payments.<\/p>\n
He said \u201cData released today shows the government is standing idly by and letting banks rip people off in the middle of a cost-of-living crisis.<\/p>\n
\u201cDespite four rate cuts from the ECB this year, the average variable mortgage rate is above 4% and well above the EU average.<\/p>\n
\u201cBanks are operating with impunity. They boast massive profits, pay no tax, and have no fear that the government will take any action to defend customers.\u201d<\/p>\n
The West Donegal TD added means higher mortgage payments for struggling workers and families in the middle of a cost-of-living crisis.<\/p>\n
\u201cIt is scandalous profiteering that has gone unchecked by government.<\/p>\n
\u201cInstead of being held to account, banks are rewarded.<\/p>\n
\u201cThey continue to benefit from a sweetheart tax deal that allows them to avoid paying any tax on their profits.<\/p>\n
\u201cThis takes hundreds of millions out of the real economy, out of the pocket of ordinary people, and sucked into unproductive corporate profits.<\/p>\n
\u201cThe government has leverage but lacks the political will and leadership to act.\u201d<\/p>\n
Rip-off mortgage rates continue as banks given free rein to profiteer \u2013 Doherty was last modified: November 12th, 2025 by Staff Writer<\/p>\n","protected":false},"excerpt":{"rendered":"Donegal Deputy Pearse Doherty has said that new data shows banks are ripping people off with sky-high mortgage…\n","protected":false},"author":2,"featured_media":136631,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-136630","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/136630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=136630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/136630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/136631"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=136630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=136630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=136630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}