KBC Bank Ireland has said that it is experiencing increased demand for its mortgage products. According to executive director and head of retail Dara Deering, with confidence returning to the market and increasing demand from first time buyers and trader-uppers, the time was right to strengthen its mortgage offering. “Confidence is returning to the economy [...]
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11th June 2013
Call for split mortgages to be banned
Split mortgages with accruing interest are really no different to interest only extension periods and should be banned, according to the Association of Expert Mortgage Advisors (AEMA). It wants them outlawed because, the AEMA say, there is a distinct possibility that they are misleading the homeowner into believing that they have secured a long-term viable [...]
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21st May 2013
€331m worth of mortgages issued in first quarter of 2013
Mortgages to the value of €331m were issued during the first quarter of this year, new figures show. This compares to €999m worth of mortgages issued in the last quarter of 2012 and €450m worth in the first quarter of last year. The Irish Banking Federation/PwC Mortgage market profile shows that 2,068 new mortgages were [...]
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20th May 2013
Homeowners will be allowed to move and keep their tracker mortgage
Homeowners will now be able to move house without having to give up their low interest tracker mortgages. Trackers are linked to the rate set by the European Central Bank, which currently has an historically low rate of 0.5%. With 375,000 homeowners currently on tracker mortgages, many are reluctant to move for fear of losing [...]
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30th April 2013
Mortgage approvals up 6.8% from March last year
There were 1,167 mortgages approved in March, to the value of €196 million, according to the Irish Banking Federation. Of that figure, €186 million was for house purchases. The IBF says the figure represents a volume increase of 6.8% and a value increase of 15.9% over the same month last year. However, approvals for houses [...]
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29th April 2013
Permanent TSB to introduce new pricing model for mortgages
Permanent TSB is set to introduce a new pricing model for mortgages this week, which would mean lower rates for some new customers. However, those with deposits of 10% or less will pay more under the new system. The bank is understood to have briefed senior staff on the plans to overhaul its mortgage offering [...]
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23rd April 2013
McGrath calls on Central Bank to remove differences in split mortgage offers
Fianna Fáil spokesperson on finance Michael McGrath TD has said the Central Bank must intervene to remove the dramatic differences in the split mortgage offers being made by different banks to borrowers. At present, a Bank of Ireland split mortgage customer will pay tens of thousands of euro more than an AIB customer for example. [...]
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23rd April 2013
EU agreement reached on mortgage rights
Agreement has been reached between the Irish presidency, the European Parliament and the European Commission on the new Mortgage Credit Directive. The deal will bring closer a new EU wide set of standards for mortgage consumers as well as for banks and credit institutions. The European Commission has hailed the agreement as heralding greater protection [...]
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22nd April 2013
Buy-to-let widows could lose their homes
Grieving spouses of buy-to-let investors may be chased by banks to recoup losses after their untimely death, according to the Irish Brokers’ Association. Spouses could be left hugely exposed and may be targeted to pay for the negative equity portion of these largely uninsured properties as banks’ rarely insisted on life insurance being in place [...]
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11th April 2013
Cowen calls on government to clear up confusion over property tax
Fianna Fáil environment spokesperson Barry Cowen has called on the Government to clear up confusion over property tax valuations as the deadline of May 1st rapidly approaches. “With the valuation deadline just three weeks away, thousands of homeowners are left in a state of total confusion about the property tax value on their homes. Many are [...]
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no way has it bottomed out as the next budget will crucify us even further. Overspending in heal...
