Audrey Carville hosted another lively and informative ‘Late Debate’ where we were part of a panel discussing the role of retail, its performance and the big run up to Christmas.
PTsb buy from abroad criteria
PTsb have sent out the criteria for buyers from abroad, listed below.
Applicants who are Irish or UK Citizens resident outside of the Republic of Ireland AND who are earning in excess of 100,000 Euro equivalent per annum (joint or sole basis) may be considered for BTL facilities, a maximum LTV of 60% applies.
Standard valuation & rental income confirmation requirements apply.
All qualifying applicants / properties will be required to comply with the standard 1.2 times RCR requirement.All applicants will be required to provide acceptable proof of their compliance with the €100k minimum income requirement. Income may be verified with reference to one or more of the following:
Payslips (2 of most recent 3); Salary Certificate; Statement of Taxes (P60 equivalent or Tax Balancing Statements); Audited / Certified Accounts; 3 months Bank Statements showing minimum 3 salary credits at the required level; Balance of funds must be evidenced by way of a Bank/ Savings/ Investment statement.In the normal course a Net Income / Lifestyle Expenditure assessment is not required. However it is acknowledged that circumstances may occur where …
What do foreign buyers want?
The show ‘Who’s buying Ireland‘ aired last night and raised some interesting points about the influx of foreign capital into the Irish property market. There was some very depressing feedback (at least on twitter) which implied that this was wrong/evil/a sell out/our profits which we are being denied/etc. or that this was somehow wrong.
Later on Primetime this general idea was further alluded to by Fintan O’Toole and David McWilliams. Robert Hoban of Allsop was also on the panel, his firm has dealt with all types of buyers said that they ‘don’t discriminate’ and that is a vital point, is it any persons role to say who can or cannot buy something in a free society?
If there is any type of collusion or wrongdoing that is a different matter, but as far as we can see none of the buyers mentioned yesterday were accused or implied to be guilty of this.
In this firm we have seen a massive increase in foreign buyer interest, to the point that we decided to increase the fees we …
Morning Ireland: Business news with Brian Finn, speaking to Karl Deeter about bankruptcy
Brian Finn of RTE’s Business News spoke to Karl Deeter on Morning Ireland’s business news. He asked how the new changes to bankruptcy legislation would affect both borrowers and the property market.
RTE 6 News: Property prices
In this piece covering property prices, the increases in Dublin and the situation around the rest of the country we gave a brief comment highlighting that for the first time outside of Dublin there was a year on year sign of stabilisation in prices. Paul Murphy gave some excellent analysis on the topic.
TV3 Midweek: Discussing property with Colette Fitzpatrick
Colette Fitzpatrick had Fiona McLoughlan-Healy and Karl Deeter in the studio to discuss property prices and what the implications were for the market in both Dublin and in general as well as whether or not we are going into a new bubble.
RTE Morning Edition: 27th November 2013
We were asked to review the papers on RTE’s Morning Edition with Anthony Murnane who was sitting in for Keelin Shanley.
Don’t be late! Banks announcing cut off dates for mortgage cheques
Every year Santa brings a few unlucky kids some coal, the banks have a similar deal for people who are late with their paperwork and it’s called a ‘cut off date’.
This means that irrespective of what you do, you won’t be able to get a mortgage cheque if you submit paperwork after a certain date (we’ll list them as they come in). The problem for some people is that they might be reliant on closing in 2013 in order to get a legal property tax avoidance for owner occupiers so if you are going to try to draw down in December do yourself a favour and get everything sorted out ASAP.
And also remember, by ‘documents in’ that means ‘on the system’ and from the time a document arrives to when it gets scanned up can take a few days depending on the institution.
Cut off dates announced thus far:
BOI and ICS: Tuesday 17th
KBC: Friday 20th
(edit: 28/11/13 10:51am)
AIB/Haven: Monday 16th
Watch what you say (on social media) the banks are listening
Something that has been a trend for quite some time is that various people are looking at your social media, not with a view to laughing at a funny picture, but as a way to helping them make a commercial decision.
The employers looking at facebook and the like is well known, but what a lot of people don’t realise is that if you apply for a loan more often than not the bank is going to check you out on various social media platforms.
The most common is linked in. While a bank can verify your work history to the extent that your current employer provides it on a salary cert (duration of tenure, pay etc.) it tells them almost nothing about your past work history on how you got to that point in your life.
So if you have big gaps where you have no explanation it could sway a decision, if you mention how you always wanted to leave the corporate world and work for charity it could sway a decision and if you spent your career …
Repossessions you don’t even know about (when it’s you that it happens to)
We have a client who just found out one of their properties is getting repossessed. The only odd thing about it is that the bank never bothered to tell them about it. Instead it was found out when a neighbour told one of their relatives who then mentioned it to them etc. etc.
Anyway, the property in question has been lying idle and we are trying to determine if the papers were served at all and if so to what address because at present there is an estate agent sign in the garden and according to them this was all done correctly and paperwork is in order.
Seems awful strange, and the client said that Ulsterbank (the lender in question) haven’t called them in several months. It seems they are sick of talk perhaps, but even so, if they are going to repossess a property you’d think you’d get at least a farewell card or something?