Central banks will struggle to hold hard line as the economy slows Interest rate cuts are on the cards sooner than anyone thought, but don’t expect a return to the super-low rates of old. Finance Minister Michael McGrath said yesterday he expects a reduction in the European Central Bank’s main borrowing rate – which has been at a euro era high of 4.5pc since September – as early as the first half of next year. […]
Rising mortgage rates mean the savings that homeowners can make by switching their mortgage have doubled in the past six months. Mortgage rates being charged by conventional lenders have breached the 7pc barrier for the first time in over a decade. This means some households may be paying a record of up to €7,000 in extra repayments a year by not switching lenders, according to the latest Irish Independent/Doddl.ie mortgage switching index. At the start […]
Cork Mortgage Broker - House Model with coins in background
The number of first-time buyers (FTBs) approved for a mortgage has hit a record high. Around 30,000 new buyers got the green light from lenders to take on a mortgage in the year to August. It is the first time since the Banking and Payments Federation started compiling mortgage figures in 2011 that so many first-time buyers have been approved. It comes as the asking price for housing rose slightly this month when compared with […]
Cork Mortgage Broker - Derelict House Scheme
With grants of up to €96,000 available to renovate vacant properties, a derelict cottage could be transformed into a dream home. Here are nine of the best revival projects on the market. That tumble-down house in the middle of the lower field, where you played hide and seek as a child, could be your new home. Or maybe the old bungalow on the road from the village, covered in ivy and empty for the most […]
Rural dwellers expected to benefit from the extension, says Housing Minister Darragh O’Brien The state scheme that provides funding to help people to purchase their own homes is to be extended to those building their own homes. From this week, the First Home scheme is to be widened to include self-builders who are constructing their first home. The scheme was set up to help first-time buyers to bridge the gap between their mortgage, deposit and […]
Important Information Regarding Upcoming Affordable Housing Schemes *Update as of September 2023 Cork County Council will advertise, in due course, the respective Affordable Housing Schemes when they are set to become available. Schemes will be advertised publicly via the Council’s website, social media channels and via print media. Advertisements will direct interested parties to the appropriate website/online platform from where they will be able to access the respective documentation (application form, FAQs, eligibility criteria, income […]
Cork Mortgage Broker - Help to Buy Revised
July saw a 22pc rise in the number of new buyers borrowing compared with last year Rising numbers of first-time buyers are being approved for mortgages despite a sharp slowdown in the wider home-loan market. Latest figures from the banks show a 22pc rise in the number of new buyers getting the green light to borrow in July compared with last year. This is despite a surge in mortgage rates after a succession of European […]
Buyers are being forced to pay more for homes despite a fall in transactions in the market over the last year. New figures based on the State’s Property Price Register show that the typical price of a home was up €28,000 in the second quarter of this year compared with the same period last year. The median, or typical, price is now €318,000, according to data technology company Geowox. This means sales prices were up […]