Category Archives: mortgage arrears
Homeowners struggling with their mortgage debts may be able to get substantial amounts written off. Of course there will be a price to pay – The banks will insist that customers cut back on “luxuries”. Foreign holidays and Sky Sports may not be too much of a sacrifice, but expect major objections to having to take children out of private schools and to have to do without private health insurance. Charle Weston’s Irish Independent article of 21/03/13 ia a great read. Continue reading
Bank of Ireland has changed the rules of the game and somehow increased mortgage tracker rates! Continue reading
Section 23 allowances bought by investors are not being abolished.
However high earners will have to pay a 5% surcharge on income relieved by property incentives. The government is now incentivising the purchase of investment property again, but it is likely that only the very wealthy will be able to do this, since mortgage credit for such projects is very scarce.
Tinkering with the property market has often had undesired results. Continue reading
The Irish Government has finally come to the realisation that mortgage debt is a massive problem and intends making the issue “a priority”. Tens of thousands of people are already stressed out about it, not just the people struggling with mortgage arrears. Take away the stress by engaging a mortgage professional to represent you instead of trying to do it yourself. For those who can’t pay a fee, contact MABS, which provides an excellent service at no charge.
Individual stories from people trying to negotiate directly with their mortgage lenders provide anecdotal evidence that the banks are not being too helpful.
If you do have a problem with debt, make contact with your lender as soon as you can. Continue reading
ECB interest rate expected to rise again but tomorrow, but perhaps this round of hikes will end sooner than planned. The Chinese economy is now starting to suffer, so expect the price of oil, inflation and global demand to reduce. No more need for ECB rate hikes! Continue reading
Huge numbers of people are struggling to pay mortgages and other debts in Ireland. The lenders don’t seem to be offering much help, customer stress levels are high and it’s often hard to see any hope at all. We at Good Financial Housekeeping can improve the debt situation, deal with the lenders, put a plan in force and make the problem much more manageable. Continue reading