The Insolvency Service of Ireland has confirmed that a VAT rate of 23% will be applied to the fees paid to insolvency practitioners. The service, which will regulate the work of Personal Insolvency Practitioners (PIPS), was established in March. The Independent Mortgage Advisers Federation has criticised the application of VAT, saying it will make [...]
Read More >Tag Archives: Irish Mortgage Brokers
12th April 2013
Is the mortgage crisis worse than we thought?
MABS (the Money Advice and Budgeting Service) a publicly funded group who are given €18,500,000 a year to help the indebted, have produced research which indicates that when it comes to people with mortgage difficulty that the people affected are mainly those with children and are aged from 41 to 65. They also found that [...]
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22nd March 2013
How are Irish property investors faring?
There are plenty of headlines about arrears, about buy to let investors who will now be chased down as part of the new Central Bank ‘targeting’ scheme and about people in various stages of financial difficulty, but what do we really know about the people behind the numbers? Today is your chance to help change [...]
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14th September 2012
New taxes could damage both the market and a whole host of those simply struggling to survive
Most people would be in agreement that a healthy economy requires a healthy property market. After all, one of the major things that fuelled the Celtic Tiger was the housing and construction boom. Obviously we don’t want to get back to a stage where there is reckless lending and we’re building homes simply for the [...]
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4th September 2012
Widely different rates being offered to first time buyers
A new report has found that first time buyers who take out mortgages are being charged hugely different interest rates by lenders, with a difference of €1,400 a year between the most expensive and cheapest. Bank of Ireland subsidiary, ICS Building Society, has emerged as the most expensive for first-time buyers, with its 4.8% rate [...]
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27th August 2012
Eight out of 10 people refused mortgages, insists PIBA survey
A new survey has claimed that as many as eight out of 10 people looking for a mortgage are turned away by banks. The survey by the Professional Insurance Brokers Association (PIBA) – which represents almost 900 brokers – reveals that lending, or a lack of it, is having a serious impact on the property [...]
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17th August 2012
Should NAMA place a floor on the property market?
Former head of Bank of Ireland Mike Soden indicated to the Examiner that NAMA should intervene in the Irish property market, specifically stating that:“The easiest solution, in my judgement, is that NAMA has got the responsibility of establishing a base price, or a floor price, for property in the country.” That this would be a [...]
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10th August 2012
Mistakes by Irish banks
I can’t help but wonder if there is some link between saving Irish banks and the way they then act after the fact, do they become grateful for the salvation or morph into ongoing prodigal sons? The recent issues with AIB are a case in point. They have been rescued several times now, most recently [...]
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20th July 2012
How banks determine what you can borrow
Every single new enquiry we get at Irish Mortgage Brokers has the same general question, ‘can I get a mortgage and if so how much?’. The day people stop asking that question is the day we close our doors! The first thing you have to do is understand that there is an underwriting process and [...]
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11th May 2012
Making sure Priory Hall doesn’t happen again…
Minister for the Environment Phil Hogan is looking for submissions to help improve the quality and safety of buildings. Currently the proposal is to have a compulsory set of certificates issued by architects along with supporting documentation. Is this really a ‘solution’ or just a political answer to the symptoms? Who do you think should [...]
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no way has it bottomed out as the next budget will crucify us even further. Overspending in heal...
