COMPATABILITY MODE

It looks like you are running Internet Explorer in compatability mode, please turn this off to benefit from all functionality on this website.

To do this, click the blue broken page icon in your browser address bar (example below).

compatability mode

JAVASCRIPT DISABLED

It looks like you aren't running java, please turn this on to get the best user experience

Cookies & Privacy

By continuing to use this site, you consent to our use of cookies to optimise your browsing experience.

Learn More

Credit Unions could help housebuyers

author

The Oireachtas Committee has recommended that the law is changed to allow Credit Unions to lend to approved housing bodies to help solve the housing and homelessness crisis in Ireland.

What stops Credit Unions from helping now?

Prudential central banking regulations limit the amount that a credit union can lend to 30 of its total loan book for loans of up to 5 years, and 10 for loans of up to 10 years. Credit Unions can apply to extend the limits to 40 for loans of up to 5 years and to 15 for loans of up to 10 years.

Do credit unions advance mortgages in other parts of the World?

Australia has a partic .....

Full Article

shadow

Mortgage approvals on the up despite a drop in consumer confidence

author

The number of mortgages approved in the three months to November increased by 2% compared to the three months to October, and more than 30% in comparison to the same period in 2015, based on figures from the Banking and Payments Federation Ireland (BPFI).

A total of 3,377 mortgages were approved during this period. Even more positively, over 47% of those approved were for first time buyers, meaning more buyers into the housing market and getting themselves on the property ladder.

Commenting on the figures, Investec’s Ronan Dunphy says that the latest figures are positive signs for lending growth: “This data is consistent with our expectation for a total lending drawdown volumes of over €5.5 billion in 2016, which would equate .....

Full Article

22 Dec 2016 by Ben Tumilty Mortgages
shadow

IRISH HOUSE PRICES SEE A 7.3PC INCREASE IN THE LAST 12 MONTHS

author

Residential property prices are on the climb once again, as figures from the Central Statistics Office (CSO) show an increase of 7.3% in the year to September.

Compared with an increase of 6.8% in the 12 months to August, and 4.2% from September last year, this shows a major spike in the cost of properties for Irish consumers – and is the biggest rise since mid-2015.

In 2013 we saw a major drop in the price of housing, but in recent times it appears that demand is outstripping supply, causing prices to increase. This is reflected in the statement provided by the CSO, confirming that “From the trough in early 2013, prices nationally have increased by 46.9%.”

Continuing, the release states that "in the same period, Dublin .....

Full Article

28 Nov 2016 by Ben Tumilty Mortgages
shadow

CONSUMER SPENDING AT ITS SLOWEST RATE IN 17 MONTHS

author

Consumer spending in Ireland has dropped to its slowest rate in 17 months, prompting concern among the country’s retailers.

The Irish Consumer Spending Index (CSI) compiled by Visa shows that expenditure across all forms of payment including cash, cheques and electronic card transactions rose 4.3% year-on-year, however it has also confirmed that the 5% monthly drop since September shows that spending within the country is at its lowest since May 2015.

Worryingly for high street retailers, face-to-face spending is also down 0.4% for the first time in 26 months, and with the run up to Christmas on the horizon, it is hoped that this will prompt a new wave of consumer spending.

Philip Konopik of Visa Ireland says: “The fact .....

Full Article

21 Nov 2016 by Simon Hadley Economy
shadow

MORTGAGE RATE CUTS FROM KCB BANK

author

With the debates regarding the new mortgage bill ongoing, KBC Bank have raised the stakes in Ireland’s mortgage market by cutting its fixed and variable rate mortgages.

KBC Banks’ new and existing customers will see the new rates applied to their mortgages with some expected to be paying as little as 2.9%. Existing customers are benefiting from the reduced rates based on their equity level while new customers can see reductions between 0.1% - 0.6%.

With variable rates having remained unchanged generally throughout 2016, the change in rates by the bank is seen is being spurred by the Oireachtas Committee’s mortgage debates.

These rate changes appear to demonstrate KBC Bank’s changing philosophy towards its fixed and vari .....

Full Article

31 Oct 2016 by Ben Ryland Mortgages
shadow

To Top