Articles Written By: The First Time Buyer

This author has written 79 articles
Dublin City Council Rent to Buy Scheme

Dublin City Council Rent to Buy Scheme

Dublin City Council Rent to Buy SchemeDublin 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 housing did not manage to escape the drop in property prices and many councils are now left with a plethora of empty properties on their books. Fine Gael housing spokesman Terence Flanagan said…

Buy of the week: Leim an Bhradain, Gort Road, Ennis, Co. Clare

Buy of the week: Leim an Bhradain, Gort Road, Ennis, Co. Clare

Buy of the week: Leim an Bhradain, Gort Road, Ennis, Co. ClareBuy of the week this week is a 2 bed apartment located in Ennis, Co. Clare on the market for a mere €80,000. Originally priced at €205,000 Leim an Bhradain is a relatively new development situated on the banks of the River Fergus and only a stones throw to Ennis town centre.

The apartments are deemed to be and designed to be extremely energy efficient homes; this means less figures on those bills that come in your door – and they are not lying! All units in the development have heat recovery systems which help reduce heating costs, not only that but all properties were constructed using Insulated Concrete Form (ICF) construction “renowned for its insulation qualities”, all have double glazed PVC windows and sliding doors and all have GFCH with remote control gas fire.

Tough new rules for mortgage lenders

Tough new rules for mortgage lenders

Tough new rules for mortgage lendersIt 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 as part of a major clampdown on bank lending.

Regulators will now be keeping a very close eye on all lending by banks to households and potential homeowners will now find it even more difficult to get their hands a mortgage as tough new rules will make remove the ease of getting one that was there during the boom times.

Negative equity loans to be made available

Negative equity loans to be made available

Negative equity loans to be made availableThe 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 house. But under this new deal it would allow you take the negative equity portion of your current mortgage on to a new one when you move house.

Pros?

  • Supposedly it could help boost the slumped property market and provide a “lifeline” to those trapped in a location where they no longer want to live.

Cons?

3 Properties for under €220,000 in Tipperary

3 Properties for under €220,000 in Tipperary

3 Properties for under €220,000 in Tipperary

This weeks three properties for under €220,000 are all based in the premier county of Tipperary. First property on the list and the least expensive of our three properties is a 3 bed semi detached located just outside Tipperary Town and on the market for €210,000. The description for 62 Springfield Grove in Rossmore Village has been kept short and sweet; it has been described as a bright, spacious and well laid out detached home in an attractive, sharply designed development. The property also comes with a Homebond Warranty.

Moving up north of the county our second Tipperary property on the list is 136 Collie Bheithe, a 4 bed detached dormer in Neagh town. On the market for €219,950 property features include,

Buy of the week: Mayfield Manor, Fieldstown, Swords

Buy of the week: Mayfield Manor, Fieldstown, Swords

Buy of the week: Mayfield Manor, Fieldstown, SwordsBuy of the week this week is Mayfield Manor, a new build located outside Swords in North County Dublin. While it may seem a little pricey at €895,000; here’s why, like L’Oréal, it may just be worth it;
Described in the brochure as “an impressive property providing an uncompromising quality of finish and attention to detail while also maintaining an air of understated luxury” this property sits on approx 0.7 acres and has a whopping 5 bedrooms three which are ensuite and four have walk in wardrobe (ideal amount of storage for any women who has an extensive collection of clothes, handbags and shoes!).

3 Properties for €200,000 in Co. Meath

3 Properties for €200,000 in Co. Meath

3 Properties for €200,000 in Co. Meath

This weeks three featured properties are all located in Co. Meath and all three are priced at €200,000! All properties are deemed good value for money which would make ideal first time buy or family homes. First on the cards is 50 Fitzherbert Court, a 3 bed semi property located in Navan. The property is described as a spacious house in walk in condition and boasts a maintenance free exterior with ample parking. Take a closer look at 50 Fitzherbert Court, Navan

Greed knows no bounds: Rise in mortgage rates

Greed knows no bounds: Rise in mortgage rates

Although the European Central Bank (ECB) left its rates unchanged yesterday for the 11th month in a row Bank of Ireland followed AIB today by announcing an increase in their standard-variable rates. The increase from 2.6% to 3.1% for both existing and new customers will add an extra €80 a month to the repayments of a €300,000 mortgage.

Thousands of homeowners who are vulnerable (and already hard-pressed,) to these rising mortgage rates are now being warned that they have seven days to act. Commenting on the rate rises Karl Deeter of Irish Mortgage Brokers said, “There is a very short window of opportunity now for those seeking security around the level of their future mortgage repayments to act fast before the rates increase further.” He continued, “These rises come in a year of cuts, levies, higher tax costs and deflation. It seems their greed knows no bounds.” …

Is it cheaper to buy than to rent?

Is it cheaper to buy than to rent?

Is it cheaper to buy than to rent?Recent reports reveal that the rental market is showing, albeit small, signs of stability. To the delight of some landlords, good quality rental property is in demand and rent rates have slightly but steadily increased since December 2009.

With this recent news, the worthy discussion on whether to buy or to rent has raised its head once again.In terms of asking prices, property is now a lot cheaper than during the Celtic Tiger reign and house prices are a lot more attractive now than three years ago. Commenting on the latest rental reports, PIBA, the country’s largest group of independent stock brokers said…

Pages