Mortgages

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Mortgages

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>Ireland has the sixth highest mortgage interest rates in the eurozone with Latvia, Estonia, and Lithuania topping the list.</p>

economy

Irish interest rates fall slightly following ECB decision

Central Bank of Ireland data shows the weighted average interest rate on new Irish mortgages as of the end of September was 4.08%, down from 4.11% in August

<p>Last week, John Gaffney had debts of more than €58m written off as part of a High Court-approved personal insolvency arrangement which was negotiated by Alan McGee. </p>

news

Vulture funds are fuelling insolvency, warns practitioner who negotiated Cork publican's €58m write-off

<p>Ireland has the sixth highest mortgage interest rates across the eurozone.</p>

economy

Interest rates hold steady ahead of ECB meeting

Cabinet meeting

economy

New Government forum to oversee mortgage arrears reductions

Estate agent giving house keys to customer and sign agreement in office.

economy

Banking customers hit sweet spot as rates for mortgages fall while they rise for deposits

AIB chief 'expects profitability to ease' next year as rates fall

companies

AIB chief 'expects profitability to ease' next year as rates fall

The concept of home ownership and Euro

Mortgage approvals drop 6% in June – BPFI report

But BPFI chief Brian Hayes said it was the third strongest June for first-time buyer approval volumes since the data began in 2011

Mon, 29 Jul, 2024

Woman looking at houses and flats in the window of an estate agent in London, UK

John Hearne: Mortgage holders are going further and further to find a home

Growing numbers of mortgage holders are moving out of the cities and into commuter belt counties to find a home

Fri, 21 Jun, 2024

Institute for Fiscal Studies study

First-time buyers eye up areas outside their counties amid high prices, report finds

Dublin borrowers, for example, accounted for more than 40% of first-time buyer mortgages in Kildare, Wicklow and Meath in 2023, a mortgage report by the BPFI showed

Fri, 14 Jun, 2024

Interest rate cut may not be passed on in full to Irish borrowers

Interest rate cut may not be passed on in full to Irish borrowers

A significant proportion of the 429,000 Irish households who hold fixed-rate mortgage loans will have to wait to discover whether they will tap the full benefits from the rate cut

Fri, 07 Jun, 2024

Michael Dowling: Sunnier days ahead for mortgage customers as ECB prepares to cut rates

Michael Dowling: Sunnier days ahead for mortgage customers as ECB prepares to cut rates

European Central Bank is set to reduce rates this week for the first time since its aggressive campaign of hikes began in July 2022

Sun, 02 Jun, 2024

ECB decision to cut interest rate may weaken the euro

ECB decision to cut interest rate may weaken the euro

With a quarter-point reduction all but certain, officials will finally embrace a widening in the difference between borrowing costs on either side of the Atlantic

Sun, 02 Jun, 2024

House prices

Central Bank move may have pushed house prices higher, ESRI suggests

The average loan to income ratio in the Irish mortgage market is back to multiples previously seen at the peak of the Celtic tiger

Fri, 31 May, 2024

FILE PHOTO The Central Bank has fined Bank of Ireland over €1 million for its role in the tracker mortgage controversy END

Regulator sees 'no rationale' to change credit union reserve requirements

Calls for changes to be implemented to allow credit unions to snap up a greater portion of the lending market, particularly when it comes to mortgages

Tue, 28 May, 2024

Institute for Fiscal Studies study

Credit unions push further into the mortgage market

ILCU chief executive David Malone suggested the upcoming results of the Central Bank’s review of the lending framework will allow credit unions to tap into the 'constantly growing pipeline of demand for loans', particularly mortgage loans

Tue, 28 May, 2024

Mortgage approvals rebound in April, growing 14%

Mortgage approvals rebound in April, growing 14%

In total, 4,446 mortgages were approved in April, of which 63.6% were first-time buyers

Fri, 24 May, 2024

Homeowners survey

Mortgage rates close to hitting peak as they reach highest level since 2017

Since the start of the year there has been a frenzy of activity among lenders currently operating in the market to swell their loan books further

Thu, 09 May, 2024

Housing market

Central Bank says inadequate support for borrowers contributes to mortgage arrears

Banking watchdog says lenders contributed to the rise in short-term arrears by failing to provide adequate customer support

Wed, 24 Apr, 2024

Approved mortgage application

AIB switching incentive may benefit only 'green mortgage' customers, expert warns

The bank plans to increase the payment available for switching mortgage provider from €2,000 to €3,000

Mon, 22 Apr, 2024

EU 'must do more' to facilitate mortgages from abroad

EU 'must do more' to facilitate mortgages from abroad

The EU must do more to allow consumers to get loans or mortgages from other countries, the bloc’s Financial Services Commissioner has said.

Mon, 08 Apr, 2024

man use smartphone for searching house and home for rent and sale

Is the fixed rate on your mortgage expiring this year?

Thousands of these mortgage holders are in for a potentially nasty shock over the coming year as interests rates change

Thu, 28 Mar, 2024

Central Bank of Ireland

Number of mortgages in long-term arrears continues to decline, new figures show

The number of homes in arrears over 90 days stood at 29,034 as of the end of December, new Central Bank data shows

Tue, 26 Mar, 2024

Surge in credit union mortgages during 2023

Surge in credit union mortgages during 2023

The total value of all mortgages held by these providers reached over €500m

Tue, 20 Feb, 2024

Home Tax Deduction Mortgage Interest

Uncertainty for Irish mortgage households as ECB ponders when to start cutting interest rates

Some ECB officials caution against sanctioning rate cuts but others have made more dovish predictions

Mon, 19 Feb, 2024

Mid-year interest rate cut expected 'despite blow to spring hopes'

Mid-year interest rate cut expected 'despite blow to spring hopes'

US economy is predicted to be on course for a soft landing, and eurozone and UK inflation is expected to fall further

Mon, 12 Feb, 2024

Fast shopping

Kantar: Irish grocery price inflation is just under 6%

The market researcher's data suggests that grocery price inflation is still running ahead of the general inflation rate

Tue, 06 Feb, 2024

Number of first-time-buyer drawdowns hits new 26,000 peak with value of over €7.2bn

Number of first-time-buyer drawdowns hits new 26,000 peak with value of over €7.2bn

Average first-time-buyer mortgage drawdown rose to €282,084, the highest level since the data series began in 2003

Fri, 26 Jan, 2024

Mortgage Application

How the competition regulator, Central Bank, and finance ministers let down mortgage holders

For most of the last 10 years, Ireland's mortgage borrowers have been paying €3,000 a year more in interest than they would have been paying elsewhere in the eurozone

Sun, 24 Dec, 2023

Couple can't get mortgage protection due to husband's successful treatment for cancer

Couple can't get mortgage protection due to husband's successful treatment for cancer

'Why were we asked to provide all the documents, find the house, solicitor, surveyor, if the mortgage protection is the first thing the bank should look for before giving their approval in principle?'

Fri, 15 Dec, 2023

Michael McGrath was warned not to introduce mortgage interest relief in Budget 2024

Michael McGrath was warned not to introduce mortgage interest relief in Budget 2024

Department of Finance said it could exacerbate housing supply issues, and the Central Bank said it would most likely benefit those who least needed it

Fri, 15 Dec, 2023

Construction industry

First-time buyers drive mortgage activity as switching levels plummet

The number of re-mortgaging agreements fell by 78% and by 81.5% in value terms during the last 12 months.

Fri, 24 Nov, 2023

Stock house building

Average income of first-time buyers hits new record high

The average first-time buyer mortgage on existing properties now stands at €258,802, with the average for new properties up €30,000 to €315,000 compared to last year

Fri, 17 Nov, 2023

Mortgage application loan agreement and house key

Interest rates on new mortgages now sixth highest in eurozone

During September, the average mortgage interest rate is 4.3% — an increase of 0.2% compared to August, when rates were the 11th highest across the eurozone

Thu, 09 Nov, 2023

Home tax deduction

Will struggling mortgage holders be given the relief they deserve?

A new EU directive regarding mortgage repossessions could spell good news for Irish homeowners struggling with their repayments

Mon, 06 Nov, 2023

Germany Europe Economy

No relief for Irish borrowers as Lagarde insists talk of ECB rate cut 'totally premature'

Mortgage brokers say any rate reduction next year will not come in time to help the 70,000 Irish households whose fixed-rate mortgages expire at the end of this year

Thu, 26 Oct, 2023

New law will allow credit unions compete with banks

New law will allow credit unions compete with banks

If the law is passed, more members of credit unions will be able to access mortgages, business loans, and current accounts

Wed, 18 Oct, 2023

Stephen Hamilton: Mortgage holders have to wait for tax relief

Stephen Hamilton: Mortgage holders have to wait for tax relief

With a particular focus on homes, Stephen Hamilton examines Budget 2024 changes and when we can expect them to kick in

Sun, 15 Oct, 2023

Irish Budget 2024

USC cut, increased rent tax credit and new energy credits announced in €14bn budget

Finance Minister Michael McGrath says Budget 2024 includes further supports for individuals, families and businesses at a time when the cost-of-living is high

Tue, 10 Oct, 2023

Consumer Corner: How much could I save if I overpay my mortgage?

Consumer Corner: How much could I save if I overpay my mortgage?

According to those in the know paying a bit extra on your mortgage each month could in fact save you thousands of euro over the long term and is a great way to use any spare cash you may have.

Wed, 04 Oct, 2023

Home prices rise by 4.1%, bringing to an end a period of decline

Home prices rise by 4.1%, bringing to an end a period of decline

Dublin asking prices now average €425,000, while asking prices in the rest of the country average €285,000, according to new report

Mon, 02 Oct, 2023

Number of houses for sale falls by 20% in past year, new report shows

Number of houses for sale falls by 20% in past year, new report shows

Current stock of 12,200 compares to the almost 15,500 available to buy on the same date in September 2022, and remains well below the 2019 average of 24,200

Fri, 29 Sep, 2023

Miniature colorful house with stack coins

What another interest rate hike this week will add to your mortgage repayments

All tracker mortgage holders will see their rates rise within one month which will bring the average tracker mortgage rate to 5.65% if a 0.25% hike is implemented this week

Mon, 11 Sep, 2023

Housing stock

Number of mortgage approvals fall by almost 10% as interest rate pain bears down on housing market

Despite rising interest rates, first-time mortgage approvals rose for the fifth consecutive month, according to the BPFI

Fri, 25 Aug, 2023

Conveyancing issues causing house sales to fall through, survey finds

Conveyancing issues causing house sales to fall through, survey finds

The survey was conducted in July, with 534 estate agents participating

Mon, 14 Aug, 2023

Revolut Ltd. CEO Nikolay Storonsky Interview

S Can Revolut bring true competition to Irish banking?

As it continues to roll out new services, Emer Walsh examines the digital bank's attempts to offer an alternative to the pillar banks

Sun, 06 Aug, 2023

Revolut to sell AIG car insurance, may be closer to launching mortgage loans

The company is initially offering the AIG insurance products to a selection of its customers.

Mon, 31 Jul, 2023

Mortgage loan,

Squeezed mortgaged households face more pain

Irish banks set to increase mortgage costs even as Thursday's rate hike may be one of the last from the ECB

Fri, 28 Jul, 2023

Mortgage loan,

Mortgage switching approvals drop more than 70% in May

Brian Hayes, chief executive of the BPFI, said: “May was the busiest month for first-time buyers approvals in both volume and value terms since the data series began."

Tue, 27 Jun, 2023

More than 1,000 people assisted with mortgage debt in 2022

More than 1,000 people assisted with mortgage debt in 2022

Some 95% of borrowers who availed of a PIA had terms that saw them remain in their family home while 44.3% of borrowers had a reduction in their mortgage debt, report finds

Tue, 20 Jun, 2023

Central Bank sets date for tracker mortgage inquiry into former Permanent TSB boss

Central Bank sets date for tracker mortgage inquiry into former Permanent TSB boss

David Guinane, who worked for the bank for 25 years, is the first individual to be put before a public inquiry into the scandal since it first emerged in 2015

Fri, 16 Jun, 2023