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RTÉ News
a day ago
- RTÉ News
Motorists urged to 'drive carefully' over Bank Holiday weekend
A road safety campaign is under way across the country for the August Bank Holiday weekend. The dedicated road traffic enforcement operation began at 7 o'clock this morning and will continue until 7am on Wednesday. Gardaí say bank holiday weekends are one of the busiest periods on Irish roads, and are also one of the periods during which road users are at the highest risk of being involved in a fatal or serious road traffic collision. So far this year, 95 people have lost their lives on Irish roads. A motorcyclist in his 20s died in a road crash in Co Waterford late last night. An Garda Síochána is appealing to all those that will be taking to the roads this long weekend to slow down and take extra caution. Chief Superintendent Ray McMahon urged drivers to "slow down and plan their journey ahead". Speaking to RTÉ News at a garda checkpoint in Claremorris, Co Mayo, he advised road users to take breaks if they have long journeys ahead of them and to put their mobile phones away. "We really do not want to be visiting another family with terrible news," he said. "We're going to be out in force right from today straight through until next Wednesday with extra checkpoints and considerable more enforcement in relation to speeding, mobile phones and seatbelts. "Please drive carefully and drive responsibly." Minister of State at the Department of Transport, Sean Canney, urged motorists to wear their seatbelts and put their mobile phones away. "Do not drink and drive, do not take drugs and drive, and above all, drive at a speed that you can control your car," he said. "I ask everybody, whether they're driving day or night, to be careful on the roads. Make sure that you've full control of your vehicle. "Drive safely, cycle safely, be safe." Sarah O'Connor, Director of Partnerships and External Affairs with the Road Safety Authority, advised drivers to "consider their actions" on the roads this weekend. She said that while they have seen a decrease in passenger and driver fatalities in the last six months compared to previous years, there have been rises in fatalities among motorcyclists, cyclists and pedestrians. "We are all vulnerable road users at different points in the day and the week. We need to take really great care and observe very, very carefully when we share our roads, especially across this Bank Holiday weekend," she said. "We can all take care this Bank Holiday weekend. Never drink and drive, never take drugs and drive, put on your seatbelt, take great care and slow down. We can prevent serious injuries and fatalities this weekend."
Irish Independent
7 days ago
- Business
- Irish Independent
ICS Mortgages cuts rates despite ECB pausing reductions
The new variable rates are available from the start of August. The reduction is just 0.2 percentage points. ICS, which is the trading name of Dilosk, said the reduction applies across all loan to value bands for new and existing owner occupier variable rate customers. Chief commercial officer at ICS Mortgages Ray McMahon said: 'We are pleased to introduce these rate reductions as part of our ongoing efforts to deliver value and support to our customers. At ICS Mortgages, our mortgages remain innovative and responsive to our customer's needs.' But ICS said there will be no changes to interest rates for former Ulster Bank Flexible Mortgage customers who migrated to Dilosk. Earlier this week, AIB units EBS and Haven said they were cutting interest rates on their non-green mortgages by up to 0.50pc for new and existing customers. The latest ICS Mortgages, EBS and Haven reductions are being implemented despite the European Central Bank (ECB) leaving its interest rates unchanged this week after eight previous reductions. Many experts reckon the ECB is now finished its rate-cutting actions. However, some market watchers say their could be one more 0.5 percentage point reduction in ECB rates later in the year. The Frankfurt-based central bank is on hold as it waits to see how big a blow US President Donald Trump's tariffs will inflict on the economy before deciding whether to cut rates again. Bank boss Christine Lagarde said: 'The economy has so far proven resilient overall in a challenging global environment. 'At the same time, the environment remains exceptionally uncertain, especially because of trade disputes.' The ECB has already cut rates eight times since June of last year and Ms Lagarde said after the last policy meeting on June 5 that the central bank is 'getting to the end of a monetary policy cycle'. Inflation has fallen from double digits in late 2022 to 2pc in June, in line with the ECB's target. A stronger euro, which lowers the price of imports, and softer global prices for oil have helped keep inflation moderate. The stronger euro, up 13pc this year, has attracted attention as a potential damper on growth.
Irish Independent
24-06-2025
- Business
- Irish Independent
Non-bank lender ICS cuts mortgage rates, but remains expensive compared with rivals
But ICS remains expensive compared with its rivals in the market despite the reductions. It also charges existing customers more than new ones. ICS Mortgages, the trading name of Dilosk, said it was cutting its rates by up to 0.15 percentage points. The reductions are across fixed mortgage rates for both new and existing owner-occupier mortgages. The new rates are available from July 4, and applicable to three- and five-year fixed rates. It said its latest rate changes reflected ICS Mortgages' commitment to supporting customers and would form part of its broader strategy to continue to offer flexible, transparent and customer-focused mortgage solutions. For new customers, the reductions apply across loan-to-value bands. The new three-year fixed rates will start from 3.85pc, and the new five-year fixed rates will start from 4.15pc. Existing ICS variable-rate customers will be able to get a three-year rate from 4.1pc from next month. A five-year fixed rate will be available from 4.25pc for existing customers. Ray McMahon, chief commercial officer at ICS Mortgages, said: 'We are pleased to introduce these rate reductions as part of our ongoing efforts to deliver value and support to our customers. At ICS Mortgages, our mortgages remain innovative and responsive to our customers needs.' ADVERTISEMENT There will be no changes to interest rates for former Ulster Bank Flexible Mortgage customers who migrated to Dilosk DAC. Mortgage broker Michael Dowling, of Dowling Financial in Dublin, said the reductions were welcome. However, he said: 'These rates are still expensive compared to their competitors. The market would on average be anything from 0.5 percentage points to 0.85 points cheaper for a range of fixed options.' He also noted that ICS Mortgages is charging higher rates for existing customers. Mr Dowling said this was a practice long stopped by its competitors. The ICS move comes after the European Central Bank (ECB) has cut its key lending rates for the eighth time since last summer. The rate from which tracker mortgages are priced is down to 2.15pc. It was last at this rate in late 2022, and rose to as high as 4.5pc at the end of 2023. About 130,000 holders of tracker mortgages, whose repayments are directly linked to the ECB's main rate, stand to benefit immediately from the announcement. Most Irish mortgage holders are on fixed or variable rates, however, and will await to see if their lenders pass on the reduction. More ECB cuts have been thrown into doubt by fluctuations in oil prices and the euro currency. Energy prices have jumped after Israel launched attacks on Iran. Governing Council member Francois Villeroy de Galhau, of France, said recent oil volatility could affect ECB rate cuts. While ECB officials have indicated that inflation is now largely contained, a sustained hike in oil prices as a result of the conflict in the Middle East would potentially push prices up across a range of sectors.
