Making housing more affordable

This paper was written by Karl Deeter and covers many different aspects of housing in Ireland. It was written last year so there are parts of it that are not as current as we’d like it to be. Publishing was delayed for various reasons, but we hope that it provides a good background on the many facets of housing delivery in Ireland where some changes could make a difference to delivery.

The bad news is that there isn’t any one ‘grand idea’, the good news is that smaller changes across different areas of housing could help to provide a more steady stream of affordable homes in the future.

The working report  Making housing affordable in Ireland is in the link, there are still final views, corrections and critiques to consider, but it should give the reader a good insight into housing problems and housing solutions in Ireland today.

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Opening times and service during the Covid19 crisis.

We are dedicated to serving our clients in the face of any interruption or adversity. For this reason we have made arrangments for our team to work remotely other than for some of the management who are taking care of essential elements of the business and in line with the Central Bank of Ireland guidelines on the matter.

We are still able to work with you online, our team have phones diverted to their mobiles or are using software phones in remote locations. There are going to be delays though, that is to be expected as bank teams are very busy and also trying to work remotely. We will monitor the situation and update you should anything change, if there is no update you can assume we are back to full regular business ‘as usual’ upon the announcement that people can return to work.

 

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If you need mortgage assistance during the covid 19 pandemic

Below is a list of numbers for the banks where you can speak to representatives who will be able to assist you with any concerns you have about making mortgage payments during the covid19 pandemic.

AIB 1890 252008

Bank of Ireland 01 6113333

EBS 1850 330044

Finance Ireland 1890 995998

Haven Mortgages 1850 654329

ICS Mortgages 1890 542542

KBC Bank 1800 939244

Permanent tsb 0818 502424

Ulster Bank 1800 435763

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Commission and clawback disclosures for 2020

Below is a table that shows our clawbacks and commissions agreements with the banks we deal with. All lenders pay the same sum, some claw it back differently. A clawback is where at some point in the future after a loan draws down that a bank or lender takes back income that was payable as commission in the past.

For example, if we help a client to borrow €150,000 we would get €1,500 in income from the bank, but with most of them if you were to refinance elsewhere for a better deal in year one the original bank would take back (claw back) the full €1,500. That’s why our terms of business explains that if we get a clawback that we in turn seek payment of that from the client.

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Covid19 update

Due to the coronavirus pandemic our company is doing what we can to keep staff safe while still serving our customers through what can be a very stressful experience.

This has meant that some staff are observing self-isolation, others are working remotely and within our office building we are all segregated into different rooms, one person per office Normally the offices are shared.

Along with this there are issues with banks, longer holding times on call lines, reduced staff in the lending teams and banks are also trying to deal with existing customers who require assistance at this time with mortgage payment help.

So while we are still open, doing our best to close loans that are near drawdown and assist people who need us, there are significant delays within the system that are beyond our control.

In short, everything will be the same as it usually is but with delays and depending on developments that may arise regarding any government decisions these delays may become more or less protracted. Our intention is to go along with whatever the prevailing …

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How to get a mortgage in Germany

The rights to a real estate property that are held by the person who owns the property (house, land, apartment etc.) are given to a bank in order to receive other benefits in return. These benefits are usually cash benefits. The mortgage is used in banking as security for loans. The possible amount of the mortgage is determined by the value of the property. Mortgages can be given by banks. In case people need help regarding mortgages there are different branches that can help. Mortgage brokers help people to arrange the mortgage between the borrower and lender and a real estate agent helps buyers and sellers find or sell a property. Getting a mortgage has several advantages such as that the interest rates are generally lower than for other types of borrowing and that a mortgage is easy to repay due to it is repaid little by little on a monthly basis. But a mortgage can also be disadvantageous because the interest rates on mortgages are changing from time to time and can increase suddenly o the borrower has to pay …

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Apartments and their prices in Emsdetten

The town Emsdetten provides houses and flats either for rent or to buy them. To find them, it just needs some clicks on your computer or your cell phone because the best offers can be found on the internet. Though the internet is a convenient and fast opportunity to find an apartment, there are other opportunities such as the banks, estate agents or reading through the newspaper. In Emsdetten there are provided many different kinds of apartments, for example small flats, villas or multiple-family houses. But what can be said based on a research is that the provided houses in Emsdetten are rather old buildings than new buildings. Emsdetten has many beautiful places, for example near the river Ems so you have a view on the river. The town also has many parts that are good for families because they are quiet. For example a part of town that is called Austum where do live quite many families with children. The area is quite, has a park near it and also a kindergarten. Emsdetten has many areas like that. Regarding …

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How to live in subsidized housing and the rules

In Emsdetten, a town with about 36.ooo inhabitants, people have the opportunity to apply for living in subsidized housing. But how does it work, how do people apply for it and under which conditions do people have to live to make use of it? To make use of subsidized housing people need a certificate of eligibility for a council flat (in German: Wohnberechtigungsschein). To get this certificate, people have to meet several conditions. In a single household the net income must not exceed 1.800€. When two people live together their net income combined has to be under 2.700€. When parents live with one child the net income including child benefit must not exceed 3.340€. The more children a family has, the higher the number becomes. Not only families or people of a certain age can apply for the certificate. Pensioners whose income is too low, young people who study or are trainees, disabled people and single parents are able to apply for the certificate as well. That means that not only people that do not earn enough money can apply …

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Subsidized housing in Emsdetten

Emsdetten is a town in the district of Steinfurt, in North Rhine-Westphalia, Germany. It has about 36.000 inhabitants. Even though the town has many companies that provide work places, 3.7 percent – which are 1.332 people – of the population are unemployed, and the number has increased since September 2019. Furthermore, many people work in jobs where their income is not enough to pay for their rent and to care for themselves. Regarding to that, there are people that need to apply for subsidized housing. As the city hall of Emsdetten says, more than half of the inhabitants have applied for subsidized housing and do need it. Why do people apply for subsidized housing? When people are not able to take care of themselves – maybe their children as well – and to pay for their rent due to their low income, they need help from the government so that they have the ability to care for them and their families. Therefore towns provide social housings that are either built for low-income people or that have a low rent so people …

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The Rise of Income Inequality in the United States Part 3

Now that we’ve assessed how wealth inequality started and how to improve wealth and saving data, here are some ideas about how to further reduce wealth disparity:

The top 1% savings rate is much higher than both the next 9% and bottom 90% savings rates. One idea that is radical is to encourage long-run savings. The United States government could directly invest in these savings accounts so that they earn great rates of return. The other aspect of this plan would be to have interest in borrowing savings so as to encourage people not to borrow from their savings. Encouraging saving of the bottom 90% would reduce wealth disparity.

Other ideas to reduce wealth disparity include the following:

Increase progressive income taxation to decrease wealth disparity. Increase estate taxes in the United States to decrease inherited wealth Increase access to education and health benefits cost controls. Improve minimum wage policies. This will in effect shift power from shareholders to workers. Create better laws protecting consumers (such as predatory lending) and increase financial regulation to increase middle class wealth. Educate the bottom …

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