Mortgage lenders in Ireland

There are ten mortgage lenders in Ireland. AIB, Bank of Ireland, EBS, Finance Ireland, Haven, ICS/Dilosk, KBC, PTsb, Ulster Bank and Credit Unions.

A mortgage broker can help you make an application to all of them except for the EBS who don’t distribute through brokers and Credit Unions who have to be applied to directly and individually.

The main comparison between lenders is their interest rate, but there are many other features of a loan to consider such as the rates that may apply after a fixed rate expires, cash-back and other terms and features that are specific to loans from certain banks.

For instance, some lenders will let you overpay a fixed rate mortgage, others will penalize you if you do that. To find out more get in touch and we can help you figure out what lender is the best for your circumstances.

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Good Grub: When the going gets rough, help those less fortunate than you.

Some people decide that when the going gets rough, they’ll help those less fortunate than themselves, nothing can be more spiritually reaffirming than this type of attitude.

Denis Reilly (oh ate 6 2744727) started a GoFundMe to help raise money so that kids in Deis schools (Deis schools are usually in deprived areas where you get meals as part of your school day) can still access fresh fruit and vegetables. Within a short amount of time they raised over €100,000 and this will help to feed 5,000 families across Dublin for a month.

So far they have raised €119,000 with a goal of €250,000. They are distributing via Glanmore Foods who already supply non-fresh foods and this takes care of the logistics. This is some good news, worth hearing more of (so far only the indo covered it!)

See more at https://www.goodgrub.ie/

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Looking into the last crisis, how did the predictions work out?

Karl did an interview in late 2012 which at the time drew a lot of negative feedback because Karl Deeter was making the case that house prices were going to start rising and there were too many forces that would push up house prices starting to form. That said, he had given about five years of advice against property investment and this was the time he changed his view.

It’s interesting to listen back on old interviews (in particular from 14 minutes on) and see what predictions were made versus the outcomes. In this case the predictions turned out to be fairly true, 2012 was a low point and prices rose. As with all predictions, you’ll get a lot wrong, Karl made plenty of bad calls too.

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Property prices after Covid19

We did a piece with Pat Kenny on his Newstalk radio show yesterday. We talked about the reasons for why property prices may face a short term volatility but that when balanced against housing need in general that the pandemic will not make housing more affordable in the long term. For that to happen we need many other things to start to resolve such as land prices, non-construction costs and planning timelines.

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ETF payment to Irish Life

If you want to make an ETF payment to Irish Lifey you’ll need their bank details, but before you do that it’s worth considering what you are about to do and why.

We assume the ‘why’ part is that you are buying a financial product or funding one, that could mean either buying some type of assurance policy or topping up a pension, but have you considered the alternatives? If you went through a broker then perhaps you have, but if you didn’t then you might want to consider some independent advice because not all policies, charges or choices are universal, they differe across different providers.

We can help you determine what pension plan may suit you the most, or what fudn is most appropriate to your needs. Not only that, we can often get peole a higher allocation (and reduced fees) which means you get more bang for your buck (euro) than you would otherwise because a broke can manipulate the charges more favourably towards a client than the insurance companies do directly. So consider giving us a call, …

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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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