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Least unethical choice for banking Ireland?

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  • 20-12-2012 11:05am
    #1
    iratira
    Closed Accounts Posts: 41 ✭


    Wanted to get a mortgage but I don't want to give my business to the banks who have had bad track records ( bailouts etc )
    How do I find out which bank is the least corrupt and immoral? Plus they need to be able to give me a mortgage also.
    Maybe they are all the same but if anyone had any ideas I'd be interested to hear them.


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    #2
    L1011
    Registered Users Posts: 68,798 ✭✭✭✭L1011


    All banks lending to first time buyers here have been bailed out by our or the UK government.


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    #3
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Start saving and buy with cash so OP.

    Here's a wild thought, just maybe the people taking out outrageous mortgages were just as responsible as the banks!


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    #4
    [Deleted User]
    Posts: 5,121 ✭✭✭ [Deleted User]


    Are there any member owned building societies left?


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    #5
    OMD
    Registered Users Posts: 2,458 ✭✭✭OMD


    srsly78 wrote: »
    Start saving and buy with cash so OP.

    Here's a wild thought, just maybe the people taking out outrageous mortgages were just as responsible as the banks!

    For most people the cost of rent makes saving enough for a house next to impossible. I repeat "for most" as I know people will now come on saying they did it.

    If you are renting a property worth €200,000 you can expect to pay rent of 5% so €10,000 a year. To save for the house on top of this over 20 years will cost another €10,000 a year (less a little for interest). That means accommodation costs will be €20k a year from after tax income. It also means you won't own your house for 20 years


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    #6
    L1011
    Registered Users Posts: 68,798 ✭✭✭✭L1011


    Deleted User wrote: »
    Are there any member owned building societies left?

    None currently doing new mortgage business that I'm aware of.

    There are at least mutual building societies two trading in Ireland - the Leeds and the UK Nationwide and I think the Leeds issued mortgages but doesn't currently.

    I have wondered whether a larger credit union should look at becoming a building society (if such a thing is even possible) as there are definitely enough people who would prefer to not use a bank, or at least a privately held bank, at this stage.


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    #7
    the_syco
    Registered Users Posts: 37,300 ✭✭✭✭the_syco


    MYOB wrote: »
    I have wondered whether a larger credit union should look at becoming a building society (if such a thing is even possible) as there are definitely enough people who would prefer to not use a bank, or at least a privately held bank, at this stage.
    After seeing the banks loose lots of money on said mortgages, I can't see any CU's wanting to hang such debt around their necks!


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