saving

Drop in numbers under 50 saving

Drop in numbers under 50 saving

There has been a significant drop in the number of people under 50 saving regularly, according to a survey by Nationwide and the ESRI. The…
New Electricity Levy on household bills: Is it fair?

New Electricity Levy on household bills: Is it fair?

New Electricity Levy on household bills: is it fair?An electricity levy that was previously suspended in 2007 has been revived and will now be imposed on all electricity customers come this October. The new levy will see an increase in electricity prices of up to 5% and plans to raise €156 million in order to improve the security of energy supply and for the development of renewable energy.

Leo Varadkar, the Fine Gael spokesman on energy said “Consumers and businesses are going to have to pay the bill for Eamon Ryan’s green energy revolution and his unwillingness to squeeze the ESB.” The Labour Party described the increase as…

Tracker Mortgages: Financial Regulator tells off banks

Tracker Mortgages: Financial Regulator tells off banks

Financial Regulator tells off banksAfter some digging by the Financial Regulator he found that not all lenders have been clear and upfront with their customers about the consequences and possible costs of switching from a Tracker to a variable or fixed rate mortgage.

As a result, the regulator has told lenders that they must show customers the difference in monthly repayments between the tracker rate and other mortgages rates, and the advantages and disadvantages of the various rates being offered. Not only that but banks have also been told that they need to warn and notify their customers clearly that they may not be able to switch back to their Tracker mortgage when being offered other rates.

Follow this, the regulator also said that he is…

Mortgage Rates on the rise again: Should you fix now?

Mortgage Rates on the rise again: Should you fix now?

Mortgage Rates on the rise again: Should you fix now?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.

So the question holders of SVR mortgages are asking… should I fix?
Last January when banks show signs of imposing increases the same question was asked…to fix or not to fix? Locking into a fixed rate is unlikely to save you money, but it will definitely

Affordable housing transferred for use as social housing

Affordable housing transferred for use as social housing

Affordable housing transferred for use as social housing Local Authorities have transferred more than 1,500 affordable housing units for use as social housing in an attempt to address the excess of unsold properties following the downturn in the housing market. With the current climate the demand for affordable housing, a scheme that was designed to provide homes at a discount to the market price for people who could not afford to buy a home on the open market, has more or less collapsed.

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