house prices

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?

Quick fire property sales: Are they value for money?

Quick fire property sales: Are they value for money?

Quick fire property sales: Are they value for money?Receivership sales are becoming more common as the banks try to sell off the surplus of houses and apartment schemes left over by the Tiger.

Last week a quick fire sale of apartments in Carrickmines, one of the large Dublin developments, saw 89 units up for grabs with only 4 left unsold by Monday evening. The sale of these properties would have been eyed closely by other receivership companies planning to sell stock in the coming months.

While low prices may attract buyers to quick-fire property sales do they actually offer real value for money?

Electricity Bills May Rise Over Levy

Electricity Bills May Rise Over Levy

Electricity bills may rise over levySurprise surprise but another household bill may just be on the rise again in the not so distant future. This time round our electricity bill is set to get slapped with an extra €40 a year due to a Government proposal to pay for green energy incentives and support of peat-fired power plants.

As it said in the papers every year the Commission for Energy Regulation imposes a public service charge on all electricity users to pay for incentives for renewable energy and to support peat-fired power plants.

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.

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,

Ireland is no Greece: Prospects of Recovery

Ireland is no Greece: Prospects of Recovery

Ireland is no Greece: Prospects of recoveryDespite being branded alongside the so called ‘PIIGS’ group (Portugal, Ireland, Italy, Greece Spain), the Ernst & Young’s Economic Eye Summer Forecast Report says that Ireland’s economy is to grow by 2.8% in 2011.

Currently Ireland is bottom of the Eurozone league in terms of the size of its financial deficit and grouped with Portugal, Italy, Greece Spain as not economically sound, however the Ernst & Young’s Economic report shows confidence in Ireland’s ability to recover stating that “Ireland is no Greece”. It is thought that Ireland’s prospects of recovery are more favourable than other EU countries due to…

Overseas Property: 2010 Investment Hotspots

Overseas Property: 2010 Investment Hotspots

Overseas Property: 2010 investment hotspots No one can deny that the effects of the global recession on the local and international housing market. However in the current climate, declining property prices create opportunities for the canny buyer, and striking whilst the market value is low gives buyers a unique chance to catch prime property before it bounces back in value. With the recent Forbes 10 best places to live list, both Knight Frank with their Prime International Residential Index (PIRI) and UK Property Journalist, Marc Da-Silva battled it out to decipher which cities, locations and countries they think are the best investment hotspots of 2010.

Mortgage Arrears: Biggest Legacy of the financial crisis?

Mortgage Arrears: Biggest Legacy of the financial crisis?

Mortgage Arrears: Biggest Legacy of the financial crisis?Speaking about new figures released by the financial regulator today on Mortgage arrears Head of financial regulation at the central bank Mr. Elderfield said that mortgage arrears may just be “the biggest legacy issue” from the financial crisis. According to the updated figures released the financial regulator the number of homeowners missing monthly mortgage repayments increased again in the first quarter of this year, rising by 13%. At the end of March, 32,321, close to 4% of all residential property loans in the state with a value of €6.1 billion were more than 90 days behind in payments.

While many have raised the question about helping householders with substantial mortgage arrears Mr. Elderfield said that there is “No silver bullet solution… and in seeking to assist households in difficulty, we need to recognise that the cost of any support will be borne by those neighbours who avoided excessive borrowing themselves or are gritting their teeth and meeting their obligations.” Taxpayers would have to bear the cost of any support mechanism over arrears, he said.

Most expensive rental property; Raglan Road, Ballsbridge Dublin 4?

Most expensive rental property; Raglan Road, Ballsbridge Dublin 4?

Raglan Road, Ballsbridge Dublin 4At €15,000 a month is this property at the junction of Raglan and Elgin Road possibly the most expensive residential rental property in Dublin?

So, €15,000 a month; why so expensive, what’s so special about it? This three story, 5 bed roomed (all ensuite) Georgian property is situated in a prime and central location of Dublin i.e. Ballsbridge, “D4” and is so close its practically neighbours with most, if not all embassies.

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!).

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