Mortgages & Money

Mortgages & Money
Equity Release Schemes – Cash in on your home.

Equity Release Schemes – Cash in on your home.

Retirement Fund

If you are over 60, own your own home and are looking to free up some cash, then an Equity Release Scheme is an option for you. You might want to enjoy your retirement, go on the holiday of a lifetime or simply supplement your pension. With equity release schemes you can turn some of the value of your mortgage in to hard cash.

These …

Mortgages & Money
How much can I borrow?

How much can I borrow?

How much can you borrow?

A year or two ago it was a case of how much are the banks willing to lend me.

The days of borrowing five and six times your income are well and truly over. This was one of the main contributors to the over priced houses that we have experienced in Ireland over the past few years. While the banks are much more …

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 …

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