Mortgages & Money

Mortgages & Money
Going for Broker? What does a mortgage broker do?

Going for Broker? What does a mortgage broker do?

Broker

When you are looking for the best available mortgage to match your finances, there are a few options available to you. Firstly, you can contact the financial institutions directly, discuss your finances and see which will offer the best deal. (By the best deal, I don’t mean the most money. Rather the most suitable deal that matches your financial situation). Alternatively, you could use a …

Mortgages & Money
Property Deeds: Where are they?

Property Deeds: Where are they?

Property Deeds

When you buy a property, the deeds are processed in the registry of deeds and then returned to the financial institution that supplies the mortgage.

Essentially, you don’t own the house until the mortgage has been paid in full so the lending institution holds on to the deeds until your mortgage has been completely paid off. So when you say, “I own a house”, in …

Mortgages & Money
Deadline date set for €200 Property Tax payment

Deadline date set for €200 Property Tax payment

Property Tax

The €200 property tax that applies to all owners of a second home was passed as part of The Local Government (Charges) Bill 2009 in the Seanad yesterday.

On July 1st the bill was introduced to the Seanad and was expected to be passed by the end of the month. At that time there was no definite date as to when owners would be expected …

Mortgages & Money
Trouble with mortgage repayments? Why not rent a room?

Trouble with mortgage repayments? Why not rent a room?

Rent a Room Scheme

As more and more people are finding it hard to meet mortgage repayments, there are a number of options available to help ease the financial strain. Even though repayment amounts have dropped for many, most of us have experienced a greater corresponding drop in income with many now on shorter working weeks, experiencing pay-cuts and in the worse case scenario unemployment. So …

Mortgages & Money
Feeling the pinch of the mortgage interest relief cutbacks?

Feeling the pinch of the mortgage interest relief cutbacks?

Feeling the Pinch?

The supplementary budget of April this year (2009) saw the removal of mortgage interest relief on mortgages over seven years old. This means that if you have a mortgage for more than seven years, you are no longer entitled to mortgage interest relief. So along with the pay-cuts, higher taxes, levies etc, you will also lose your mortgage interest relief. Most of us …

Mortgages & Money
Affordability is key when choosing a mortgage

Affordability is key when choosing a mortgage

Affordability is key when choosing a mortgage

Nervous about taking out a mortgage in these uncertain times?

For most of us buying a home is the biggest expense you will ever have. So finding the right mortgage that you can afford, both now and into the future, is a big challenge. Affordability is key especially in these uncertain times. You also need to account for all the …

Mortgages & Money
Try to be positive about negative equity

Try to be positive about negative equity

Negative Equity

“Negative equity” seems to be the buzz word of the year. We are all obsessed with it and some are almost possessed by it.

Gone are the days of bragging about the value of our homes. Negative equity means that you owe more on your mortgage than your house or apartment is worth. While it is sickening to pay out monthly mortgage repayments over and …

Mortgages & Money
Falling behind with your mortgage repayments?

Falling behind with your mortgage repayments?

Falling behind on mortgage repayments?

Unforeseen circumstances such as illness or redundancy can result in difficult financial situations. So what exactly can you do if you find that you are not able to meet your mortgage repayments?

The first thing to do is to contact your mortgage provider immediately. Don’t stick your head in the sand and pretend it isn’t happening. If you contact them directly, you may …

Mortgages & Money
Choosing an Interest Rate: Variable, Tracker, Fixed or Split

Choosing an Interest Rate: Variable, Tracker, Fixed or Split

Interest RatesDifferent mortgage products will have differing interest rates associated with them. When choosing a mortgage, it’s really the APR that is important. This is the Annual Percentage Rate and is the annual rate of interest including all other charges, the term of the loan and the interest rate.

Your lender might also talk about the CPT or the Cost per Thousand. This is the cost …

Mortgages & Money
Mortgage Protection – Til death do us part.

Mortgage Protection – Til death do us part.

umbrella

Pretty much every mortgage will have a mortgage protection policy attached to it. Most lenders and will insist on you taking out mortgage protection before they will give you a mortgage. It works like a life assurance policy on the mortgage and insures that the mortgage is paid off if the owner dies. As your circumstances may change over the course of a mortgage, it’s …

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