Minister for Energy Eamon Ryan and The Commission for Energy Regulation have come under fire from many parties, punters and businesses with the announcement / realization that electricity bills are to rise come October. The electricity price hike is due to a Public Service Order (PSO) levy, a levy that was suspended in 2007. But, [...]
Following Irish Life & Permanent and EBS, Bank of Ireland are increasing their mortgage interest rates and AIB are not far behind with talks that their rates are likely to rise by half a percentage point in the next few weeks. Many have voiced their concerns that the latest round of mortgage rate increases is [...]
Yesterday a man in Arklow, Co. Wicklow barricaded himself and his sister into their family home using machinery from his plant-hire business in order to stop the house from being repossessed. The man said his actions were an attempt to reopen negotiations with an unspecified lender that had attempted to serve a repossession order. New [...]
Following the first round of increases earlier this year, EBS announced a further increase of 0.6% on its Standard Variable Rate mortgage this month which was followed on Friday by Irish Life & Permanent with a 0.5% increase on their Standard Variable Rate; it is only a matter of time before all banks follow suit. [...]
Dublin City Council is the first in the country to launch a rent-to-buy scheme in of 91 apartments in Rialto, Glasnevin and Finglas; if the pilot scheme proves successful it could be rolled out by all local authorities across the country next year. Since the slow down in the Irish Boom Tiger, Local Authority affordable [...]
Can we blog any more on property tax… yes we can! The subject of whether or not to introduce a property tax seems to be an on going and endless topic of conversation. Appearing in the paper again today ahead of this Wednesdays budgetary talks it now seems that a Property Tax is not on [...]
After a 2-week visit to Ireland last month, the IMF released a report yesterday commending the measures the Irish Government took to deal with its financial crisis. The report also endorsed plans to help struggling homeowners burdened with mortgage difficulties as a result of the financial crisis by putting in place “narrowly-targeted support measures for [...]
It is hard to believe but true that Ireland is one of the few countries in Europe where there are no rules limiting the overall debts that a household can accumulate – BUT that’s all about to change. Yesterday the Financial Regulator unveiled a sweep a new measures to put manners on Ireland’s financial institutions [...]
The idea of the negative equity mortgage for homeowners has raised its head and many lenders are planning to latch onto the controversial idea namely; Irish Nationwide, Bank of Ireland, Permanent TSB along with one or two others. Currently if you are in negative equity it means that you cannot up sticks and sell your [...]
Two preliminary reports produced earlier this week for the Government by Klaus Regling, Max Watson and Patrick Honohan on the banking crisis critised the Governments management of the economy during the boom and found that the banking crisis was caused by a simple over reliance on property lending. The reports concluded that Ireland’s financial crisis [...]
