250,000 Mortgage Holders Face Hike
As many as 250,000 homeowners on standard variable loans may soon be forced to pay out at least an extra €76.50 per month on mortgage repayments. Sources believe banks will move quickly to hike interest rates on standard variable mortgages as soon as NAMA is up and running. Some of the country’s biggest lenders said […]
Cork Property Investor Facing House Repossessions
The High Court has allowed Bank of Ireland repossess seven properties belonging to a Cork property investor to help pay back a EUR 2.2m loan. The properties were all security for the loan taken out with the bank in January, 2007. Bank of Ireland told the court yesterday that […]
Permanent TSB Raises Mortgage Interest Rates
Permanent TSB has today confirmed that it is to hike the monthly mortgage repayments of almost 80,000 residential customers. The institution is to raise the interest rate on its standard variable mortgage rate (SVR) and a number of related products by ½% from 3.19% to 3.69% from February 1. It is expected that other mortgage […]
Mortgage Holders to be Hit all Round
Homeowners can expect the main banks to follow Permanent TSB’s lead and hike interest rates, pushing up the cost of mortgages for thousands struggling to meet monthly bills. Chief executive of the Irish Banking Federation Pat Farrell said he has no doubt other lenders will find themselves in the same situation as Permanent TSB, which […]
Banks ‘Helping 30,000 Mortgage Holders’
As many as 30,000 mortgage holders are being facilitated by the banks due to their difficulties in meeting their monthly repayments, according to the Irish Banking Federation. Banks are working with their customers to help them though the current difficult period that has resulted in over-lending by the banks and over-borrowing by some of their […]
Ghost Estates
Developers and bankers have been urged yesterday to “do the right” thing in relation to unfinished housing estates. Minister of State for Housing Willie Penrose said legislation to give local authorities power to take over “ghost estates” could form part of a solution to the problem. He was examining the Derelict Sites Act 1990 with […]
Non Principal Private Residence – Problems and Penalties
The Local Government (Charges) Act 2009 introduced a €200 annual charge on Non Principal Private Residences, payable by the owners to the Local Authority in whose area the property concerned is located. The Charge on Non Principal Private Residence (NPPR) has, since its introduction, raised over €200 million in revenue for Local Authorities. The liability […]
