The next scandal

[seafoid]

https://www.irishtimes.com/opinion/2023/02/25/interest-rates-are-likely-to-go-a-lot-higher-than-we-had-expected/

And this Government and the last one repeatedly reassured those whose mortgages were sold to vulture funds that they would retain all the protections of those with bank loans. All the protections, it turned out, except when interest rates started to rise and the already high interest rates they are being charged shoot even higher. Initial Central Bank estimate are that around 38,000 borrowers are particularly exposed, facing high rates and not able to switch to fixed-rate products. Nobody, of course, foresaw interest rates rising so quickly. But they have done – and there is more to come.