Families could save tens of thousands of euro over the lifetime of their mortgage if a non-profit bank was set up, it was claimed yesterday.
The Independent Postmasters Group calculated a €315,000 mortgage on a 30-year loan could potentially realise savings of up to €4,000 a year on interest. The IPG wants to break the monopoly of the so-called pillar banks as well as making sure there are no more post office closures.
It is also calling on the Government to implement a 2016 private members' Dail motion to put a five-year reprieve on closures. It is feared up to 200 post offices are at risk of closing in the next year.
