mortgage holders Archives - MyHome.ie Advice & Blog

AIB considering slashing interest rates for some of those in arrears

AIB is considering slashing interest rates for some mortgage holders who are in arrears. The bank is examining the option of reducing interest rates for some homeowners as low as 0.5%. It is expected it would introduce the measure in the second quarter of this…

€20m fund announced for distressed local authority mortgage holders

General, Home, Mortgages & Money, Property News

Minister for Housing and Planning, Jan O'Sullivan, has announced a new €20m fund to assist the most distressed local authority mortgage holders. The fund will be used to offer the 'mortgage-to-rent' solution to these local authority mortgage holders across the country. "The mortgage arrears problem…

ECB president rules out further reduction in interest rates

General, Home, Mortgages & Money, Property News

European Central Bank president Mario Draghi has ruled out another reduction in interest rates. There had been speculation that the ECB might drop their key interest rate below its current historically low value of 0.25%. However, despite pressure for another cut in rates due to…

IMHO welcomes Central Bank announcement on mortgage arrears

General, Home, Mortgages & Money, Property News

The Irish Mortgage Holders Organisation has welcomed the announcement by the Central Bank that 15% of mortgage holders in arrears above 90 days should have agreements completed by the end of December. This new target builds up on the March 2013 objectives set for the…

Allsop Space won't auction repossessed homes

General, Home, Industry News, Mortgages & Money, Property News

Property group Allsop Space has signed an agreement committing that neither it nor its subsidiary companies will offer repossessed family homes for sale at auction. The company signed the deal with the Irish Mortgage Holders’ Organisation at the weekend. The agreement, which has been in…

EU-wide mortgage protection deal on the way

General, Home, Mortgages & Money, Property News

New rules on strengthening the rights of mortgage holders are expected to be agreed in Brussels later today as negotiations under the Irish presidency of the European Union reach their conclusion. Under the new mortgage credit directive consumers would be afforded more transparency when seeking…

Mortgage holders continuing to struggle, insists MacSharry

General, Home, Mortgages & Money, Property News

Struggling mortgage-holders across the country need to see a complete change in direction from the Government in its dealings with the banks, according to Fianna Fáil Senator Marc MacSharry. Speaking in the Seanad on proposals to tackle mortgage arrears put forward by independent Senator Seán…

Taoiseach calls on banks to engage with those in mortgage arrears

General, Home, Mortgages & Money, Property News

The Taoiseach Enda Kenny has told banks to "get up and do it now" and engage with mortgage holders in distress. It comes after the Central Bank's Fiona Muldoon, claimed financial institutions were behaving like teenagers in dealing with the arrears crisis. Mr Kenny has…

AIB increases mortgage rates by 0.5%

General, Home, Mortgages & Money, Property News, The First Time Buyer

AIB will increase its variable mortgages rate by half a percentage point from 3.5% to 4% from Tuesday November 13th. This is the second rate rise by the bank in as many months and will add around €30 a month to people’s mortgage repayments per…

Mortgage initiative "not in interest of borrowers"

Home, Mortgages & Money, Property News

A new government scheme offering free financial advice to struggling mortgage holders is flawed, according to New Beginning. The group of legal experts who offer free counsel to help people avoid losing their homes has claimed the initiative is not in the borrower’s best interests…