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Huge jump in number of first-time home buyers seeking help through €680m shared equity scheme More than 500 homes were bought in three months using the Government’s First Home Scheme, more than double the number during the same period last year. The €680m First Home Scheme, also known as the shared equity scheme, is part of the Government’s plan to address the housing crisis. It was designed to help first-time buyers bridge the gap between -
ECB delivers its second rate cut by quarter point in boost to borrowers The European Central Bank delivered a second rate cut today, with hopes of more to come in the next few months. The 0.25 percentage point cut is a boost to borrowers and comes after the ECB had increased rates 10 times up to last September. The move means the bank’s refinancing rate, from which trackers are priced, comes down to 3.65pc. In -
Why investors are targeting second-hand homes in regional towns, inflating prices and outbidding first-time buyers Auctioneers and estate agents have had one of their busiest August months ever Investors now targeting cheaper regional homes to beat rent-cap rulesIpav predicts inflation will hit 10pc in 2024, double last year’s growth of 5pc Sorry, the video cannot be played. Try reloading the page or try again later. Investors outbid first-time buyers for second-hand homes in large regional town -
Relief for mortgage holders as string of rate cuts on the way Falling inflation across eurozone to bring some relief Good news for borrowers as ECB interest rate cuts loom Mortgage holders can expect a string of interest rate cuts as falling inflation across Europe should offer relief on monthly repayments. People on tracker mortgages are in line for two interest rate cuts in the next three weeks. Falling inflation across the eurozone means the
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First-time buyers should be allowed to access pension funds to purchase homes, say brokers A survey of financial advisers revealed that half of them believe struggling buyers should be able to access any pension funds they have to help them get a foothold in the property market First-time buyers should get access to their pension funds for property purchases, many financial advisers believe. A survey of brokers has revealed half are in favour of struggling -
Council expects plenty of applications for new affordable homes scheme in Cork Three- and four-bedroom houses at Clonmore, just north east of Mallow town centre, will be available under the scheme. A flood of first-time buyer applications is expected for a new affordable housing scheme in north Cork, where homes will be offered for sale at around 20% below the market rate. Cork County Council will begin accepting applications at 12pm on Monday, June 24,
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Mortgage gap now at record level as some homeowners are paying over €7,000 extra a year The gap between good value and expensive mortgages is now so wide that the highest rate in the market is double the lowest one. Mortgage rates now range from 3.45pc to over 7pc, according to the Irish Independent Doddl.ie Mortgage Switching Index for the first quarter of this year. It means some homeowners could be overpaying a record average €7,812 more -
The European Central Bank is on course to start cutting interest rates in June. Rates could be cut four times before the end of the year. Some commentators expect the so-called refinancing rate to come down from 4.5pc at present to 3pc by the end of the year. This would provide a huge boost the 180,000 homeowners on trackers, those on variable rates, people trapped with vulture funds that will not let them fix their
