During the recession the term ‘Buy to Let’ mortgage was almost comparable to using an expletive such was the disgust of many to the contribution such mortgages made to the property crash. But they are making a comeback.
ICS Mortgages is offering its customers an interest free mortgage for up to 15 years.
Politicians were first to jump in with their concerns. Fianna Fáil finance spokesperson Michael McGrath said “Some might say that a ‘Buy to Let’ mortgage is being offered to landlords for investment purposes. But because of full recourse lending here, these loans could result in judgments against individuals and will be registered against family homes. Continue reading The ‘Buy to Let’ Mortgage makes it comeback to Ireland
In the last few weeks the Irish Government launched a mortgage scheme to help low and middle income families (with salaries up to €75k per annum) get their first home.
The scheme offers very attractive lending rates (as low as 2% fixed for 25 years). Also, applicants do not need to adhere to the strict central banks rules for income.
The mortgage scheme will be open to new, second hand, and even self build homes.
Continue reading Irish government affordable mortgage scheme
I live in Ireland and always buy at least 2 Sunday papers. From about 2010 to 2016 the property supplements of these newspapers either disappeared or was reduced to a half page in the lifestyle section. In the past 12 months thought the 8-12 page (and sometimes more) property supplements have again appeared. Along with this is the return of the open house phenomenon (usually detailed within the said property supplements). Continue reading The return of the open house to Ireland (the weekends are saved!)
No one can doubt that house prices in Ireland are again rising.
It appears Ireland is up between 45-50% from its lowest point 5 years ago. It is also generally accepted that Dublin has seen the biggest increases whilst areas furthest from the capital have seen the smallest. Continue reading Will brexit affect house prices in Ireland?
Property prices in the little country of Ireland are rising again. Phew. After a ‘correction’ (that seemed to more closely resemble an obliteration) most areas of the country are again beginning to experience modest rises in property prices. At its worst property prices were down by over 60% in some parts of the country so it will take a long time of ‘modest rises’ before many property prices recover to a level resembling the mortgage that may now attached to the property.
Continue reading Has the ship sailed for rental yields of 10%+?