Should I Pay Off My Mortgage Early or Invest My Savings?

By |2024-04-12T08:52:25+00:00April 12th, 2024|Debt Management, Loans, Mortgages|

"Remind me why you still have a mortgage." Our Financial Planner put that question to my husband and I a decade ago. He pointed out we weren't getting much of a tax benefit from carrying the debt because such a big percentage of our payments was going to our initial borrowing amount at the tail

Pepper customers face huge interest hikes after error in mortgage calculation

By |2024-02-16T10:52:50+00:00February 16th, 2024|Banking, Mortgages|

Pepper Advantage Ireland has identified what it says is an error in its mortgage repayment process which has led to monthly mortgage repayments for approximately 2,500 borrowers being lower than they should be. However, those customers will now see their monthly bills rise dramatically as multiple interest rates totalling a huge 4.5 percentage points in

Surge in borrowing to buy electric cars, while green loans for home improvements also up

By |2024-02-09T11:32:12+00:00February 9th, 2024|Banking, Loans, Mortgages|

There has been a huge increase in the value of car loans, figures from lenders have shown. Households are also taking out more “green loans” as well as borrowing for home improvements, holidays and special occasions such as weddings. The value of all loans taken out hit a high of €552m from July to September

Lifetime loans: how much of a risk is equity release?

By |2023-12-18T09:48:04+00:00December 18th, 2023|Lifestyle Financial Planning, Mortgages|

If you’ve ever been off sick from work and found yourself mindlessly channel-hopping British daytime TV, you’ll have been bombarded with adverts encouraging the over-55s to release equity from their homes. In recent years, celebrities from Eamonn Holmes to Carol Vorderman have fronted advertising campaigns for the products. In Ireland, the late Mick Lally was

Low interest rates drive surge in credit union mortgages

By |2023-12-08T09:45:32+00:00December 8th, 2023|Mortgages, Personal Finance|

Credit unions are experiencing a massive demand for mortgages, with a 50pc rise in lending among members last year to €500m, new figures show. The member-owned lenders have seen a strong interest from first-time buyers and switchers in their mortgage offering because they have some of the lowest rates in the market. Some are offering

Revolut set to enter mortgage market for first time

By |2023-09-22T08:47:03+00:00September 22nd, 2023|Banking, Financial Planning, Mortgages|

Revolut is set to begin selling mortgages. The financial payments company says it is hiring staff with mortgage products in mind, although it has not put an exact timeline on its market entry. The company’s intention to enter the Irish mortgages market was first revealed by the Irish Independent 10 months ago. "We're focused on

Ulster Bank loses appeal over tracker mortgage refunds and compensation

By |2023-06-26T08:31:27+00:00June 26th, 2023|Banking, Mortgages|

Ulster Bank has lost its High Court appeals against findings that two borrowers were entitled to tracker mortgage refunds and compensation. Ms Justice Marguerite Bolger on Thursday dismissed the appeal against two decisions made by the Financial Services and Pensions Ombudsman (FSPO), which the lender said could affect thousands of its customers. The bank failed

TDs asked to dial down discussion of mortgage relief as ministers seek creative solution

By |2023-05-15T08:23:42+00:00May 15th, 2023|Mortgages|

Government TDs are being asked not to encourage talk of mortgage interest relief being restored in the wake of the seventh ECB rate hike since last summer. Ministers are telling them that increased home-loan service costs will be “looked at in the lead-up to the Budget”. The Department of Finance has anticipated increased interest rates

BOI’s Blunder Sparks Fears For Borrower Credit Ratings

By |2023-04-14T09:11:50+00:00April 14th, 2023|Banking, Mortgages|

A blunder on around 35,000 KBC mortgages transferred to Bank of Ireland has led to fears the borrowers' credit ratings may be impacted. The mortgage 'start date' was incorrectly entered into Bank of Ireland systems, and as a result, the lender did not submit the data to the Central Bank's Central Credit Register (CCR). And Bank of

How to shape up your finances to secure a mortgage on that home

By |2023-02-17T10:41:19+00:00February 17th, 2023|Lifestyle Financial Planning, Mortgages, Personal Finance|

“Want to go halves on a mortgage?” This tongue-in-cheek pick-up line on dating apps from millennials sums up a property market so unaffordable that house prices are now almost eight times the average salary. A desperation among millennials to escape stratospheric rents meant the number of first-time buyers drawing down mortgages soared last year to levels last

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