NIB's 'LTV' Tracker now extinct

NIB had long championed their ‘LTV Tracker’ as the best value product on the market. Indeed it was, but today we have seen the removal of it and must question why they even continued selling at a loss so far into the worldwide financial crisis as NIB themselves would accept, it was a negative margin offering for quite some time now.

NIB’s LTV tracker was born two years ago and ceased to exist as of close of business yesterday. NIB have shown a trend in their marketing, they were amongst the last to offer tracker mortgages and now they are amongst the last to cease offering them. The news comes hot on the heels of news that NIB is responsible for a third of the losses of parent company Danske Bank, those losses amount to c. €80 million.

We had mentioned in the past on this blog that their loans were unmatched, however, …

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NIB’s ‘LTV’ Tracker now extinct

NIB had long championed their ‘LTV Tracker’ as the best value product on the market. Indeed it was, but today we have seen the removal of it and must question why they even continued selling at a loss so far into the worldwide financial crisis as NIB themselves would accept, it was a negative margin offering for quite some time now.

NIB’s LTV tracker was born two years ago and ceased to exist as of close of business yesterday. NIB have shown a trend in their marketing, they were amongst the last to offer tracker mortgages and now they are amongst the last to cease offering them. The news comes hot on the heels of news that NIB is responsible for a third of the losses of parent company Danske Bank, those losses amount to c. €80 million.

We had mentioned in the past on this blog that their loans were unmatched, however, …

Read More