Irish homeowners encouraged to cut back
In the wake of restructuring mortgage deals, the Irish government has asked homeowners to cut back on spending. Some suggestions that we could perhaps all do are: 1. Cut down on TV packages. Do you really need that extra sky package. Forget that sports package. 2. Take your children out of fee paying school. Why [...]
Irish homeowners can now escape negative equity
Home owners in Ireland who have been trapped by negative equity and are unable to move up are being given the option to move up the chain by tacking on the current shortfall onto their new mortgage. This should help provide liquidity in the marketplace and could get the Irish housing market moving again.
House builders offer partial loans for home purchases
Should you take a loan on your new home? For example Linden homes is offering at 20% loan on their homes. This means the mortgage is smaller. But a personal loan, say for 10 years means that you will have to find the money then and this could be tricky unless you have some strategies [...]
Are rising rents going to kick start the buy to let revolution again?
For many homeowners they have become reluctant landlords after being unable to sell their property. As potential first time buyers struggle to achieve the mortgage deposit for their own home and turn to renting, could this be kick starting the renting market creating pressure on would be renters and hence increasing prices. Many estate agents [...]
Daily express reckons mortgages have never been cheaper.
According to this weeks daily express now could be the best time to have a mortgage…because they are as cheap as they have been in recent times. Cheap is fine if you can actually obtain one. With deposits required for homes at record highs its making getting on the property ladder very difficult for many. [...]
Are you being forced to rent your home?
The current lack of availability for mortgages is causing many families and would be buyers to rent. This in turn is driving up rental yields making it more profitable for landlords to invest if they have the capital. So we seem to have that familiar situation where first time buyers are in competition with landlords [...]
Could mortgage approval rates decline significantly?
There has been much speculation of late that confidence in the housing market is so low that it may not be possible for many young families and prospective homeowners to archive their dream of home ownership as mortgage approval rates plummet and decline. Many are relying on a wait and see approach for the housing [...]
Record low interest rates boost borrowers
Interestingly the Daily Express ran a headline this past week suggesting that interest rates will remain at record low levels for the foreseable future. This is potentially very good for borrowers and those with mortgages especially as the expected payments on a mortgage dwindle. Whether savings will be passed on to standard loans is another [...]
