TodayFM Last Word features Irish Mortgage Brokers and Joan Burton to discuss bank taxation

We took part in a conversation with Matt Cooper on The Last Word about bank taxation with Joan Burton from the Labour Party. We tried to make the point that short term thinking about bank taxation is a mistake, that we are better off getting the maximum amount of money back to the state rather than losing bank value in order to score a short term political win.

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Drivetime: ESRI property report, November 2017

We spoke to Mary Wilson on RTE’s ‘Drivetime’ show about the ESRI Report which stated that property prices would continue to rise for several more years into the future. We know of no significant measure that will reduce the upward momentum of prices at present. In a worrying sense you also don’t see any yield compression – that means that as prices are rising so are yields, this typically indicates a normal relationship with prices and yields (in a bubble yields often drop as the toppy capital prices far outweigh yields).

 

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Sunday Independent: We must speak to banks in language they understand and make them pay price

This is our article that appeared in the Sunday Independent when Karl Deeter was covering a column for Charlie Weston on the 5th of November.

We need to speak to banks in the language they understand, not the language they ‘tell us’ they understand, but the actual language they speak. That language is the language of money.

The ongoing tracker scandal doesn’t cover many of the mortgage holders who lost trackers – many banks took them away from landlords as a part of granting them longer interest-only periods and with some of the biggest institutions these borrowers aren’t covered.

While some may have a hard time feeling pity for landlords, I would remind them that you can’t delight in their financial pain then scratch your head when they jack up rents and squeeze tenants for all they can in order to pay the new higher cost of lending.

Banks are as big a cost to this country as many aspects of public health, we spent more bailing out banks than we did on curing cancer in the last eight years.

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Who provides mortgages in Germany and who are the largest providers?

The provider of mortgages in Germany is always a banks. You usually use your bank where you already have your account because they can make you a better offer with better conditions. But there are also websites where you can compare different providers.

In order to clarify this question, the “Who is Who” of the real estate financiers in Frankfurt is gathered once a year. Max Herbst, owner of the FMH financial consulting and grand seigneury of the German bankers, lends the FMH Award. For the past 25 years, Herbst has been analysing the conditions for real estate loans and has regularly selected the best suppliers of the year for four years.

A total of 14 members of the Board of Directors and eight directors and department heads had been present, including Wolfgang Müller, the board of BBBank, Michiel Goris, CEO of Interhyp, or Dieter Pfeiffenberger, CEO of BHW Bausparkasse. An award will be awarded to those who, with their Baufi offer in the 50 weeks of last year, had the highest average value of their category. For comparison, Herbst …

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The Times: Maybe I’ll buy a home after the apocalypse

We were mentioned in the Times of Ireland recently in an article on housing crashes “It seems we’re due another property crash, that’s if the Organisation for Economic Co-operation and Development and financial adviser Karl Deeter are anything to go by. Both said in the summer that Ireland was at risk of another housing bubble and subsequent bust, with the latter going so far as to pin the date to sometime in the early 2020s”.

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How does the German mortgage market work?

The German mortgage market is facing a complex period with increasing competition and a smaller population that is eligible for a mortgage because the country is rapidly aging. Of the more than 82 million inhabitants, 50 million in the age group are 20-64 years old. But in 13 years, in 2030, there will be only 34 million Germans who are young enough to receive a mortgage.

Although Germany is the largest mortgage market in Europe after the United Kingdom, the German housing market is different from the rest of the EU market. According to Ilse Helbrecht and Tim Geilenkeuser from the Humboldt University in Berlin, the Germans feel much less committed to their own house than the British, Italians or Spaniards.

Only slightly more than half of the families own the house in which they live. The main reasons for this are a large range of affordable and high-quality rented apartments and a tax system which is not preferred by tenants. Some provinces have set up incentive schemes for first-time buyers, but they are small businesses. Mortgages are offered by …

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McWilliams Ireland: Are we in a property bubble? (2nd November 2017)

David McWilliams’s show ‘Ireland’ looked at the issue of property prices here and asked if we are in a ‘bubble’. He spoke to Karl Deeter from Irish Mortgage Brokers about this who made two points. The first was that we are too late to change the outcome of the property cycle, the second was that the biggest land hoarders in the state is the state itself and that Government should release land to flood the land market and drive down the primary costs of construction.

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Newstalk Lunchtime: Ciara Kelly talks to Karl Deeter about mortgage prices being high

Ciara Kelly interviewed Karl Deeter from Irish Mortgage Brokers in a very comprehensive manner regarding mortgage rates in Ireland and why they are so high. The interview covered a lot of ground, from default risks, to competition, and also why brokers are so important in the mortgage market.

It ended with a suggestion that perhaps banks can’t be entrusted to deal with mortgages in the absence of independent advice and that on that basis they should not be allowed to advertise them and that we should offer new lenders coming into the market some benefit in order to increase competition here.

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