Avant Money becomes first lender to offer fixed rate mortgage over 30 years irishtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from irishtimes.com Daily Mail and Mail on Sunday newspapers.
Bitcoin won’t eclipse central banks
By Huw van Steenis / Bloomberg Opinion
Innovation in central banking often starts in small markets. New Zealand was the first country to formally adopt inflation targeting as we now know it in 1990. Today, the Bahamas and Cambodia lead China in piloting central bank money in electronic form.
However, few realize it was Finland that pioneered the world’s first central bank digital currency (CBDC). The experiment has some important lessons for those feverishly trying to figure out how revolutionary CBDCs will be, including the UK, which joined the club just last month with a new task force.
Mortgages are protected
You will not lose your tracker rate, even if your mortgage is eventually sold by Ulster Bank to another institution, such as a fund. And if you have a fixed-term mortgage that rate will be honoured until the term is up.
Ulster Bank tracker mortgage customers should do nothing. If you switch lender you lose the tracker. Whoever buys the UB tracker mortgage book will have to honour the tracker rate.
Holders of non-tracker mortgages should consider switching, especially if they have a mature mortgage with equity built up in your home.
If a fund buys your mortgage the new owner and the servicer of the mortgage will be subject to regulatory rules.
Charlie Weston: No need for Ulster Bank customers to panic but here s what closure means independent.ie - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from independent.ie Daily Mail and Mail on Sunday newspapers.