Promote housing, tax it appropriately and spend that money on making more housing

When you talk about being in favour of ‘more property tax’ you quickly lose the room, but what if we had less income tax and more tax on immovable assets? This is a targeted wealth tax given the way that property and wealth are intertwined, it also means those with the most valuable homes would contribute more and could encourage down-sizing too which would help free up chronically under-occupied housing stock.

This can be an emotive topic, we understand that, but so is the plight of young people facing a market that isn’t affordable and a housing shortage that is driving prices to dangerous levels.

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What Documents do you Need to Make a Mortgage Application?

In a rapidly digitalized world like the one we live in, obtaining a mortgage now requires more paperwork than it has ever been. Whereas some of the documents are electronic, the process of obtaining them. The expectations weren’t relatively as high as they may have been. Many lenders did not investigate a borrower’s employment, income, and commitments as thoroughly as they did today a decade ago.

Understanding the purpose and function of the primary mortgage paperwork will assist you in navigating from application to closure with confidence. There are many crucial procedures to buy a property, and the completion of your mortgage loan application is one of the most significant ones. It has various essential parts which collect information about you, your money and your future mortgage data. Be prepared to provide your Social Security number, date of birth, marriage and contact information to provide information about yourself and any other joint guarantor. Be ready to give your income, spending, assets and liabilities documents (what you owe). You are required to supply this information if any legal difficulties or …

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What is the Easiest Way to Get a Mortgage in Ireland?

Whether you’re a buyer for the first time or want to move into another house, you’ll probably require a mortgage. How can you obtain the most effective rate, however? The most extensive shopping in your life probably is a house. Finding the best mortgage conditions might save you the life of your loan tens of thousands of dollars or more. You may access your credit scores and loan reports free of charge. You’re going to want to look at both since your credit report will offer you an indicator as to what is a problem with your credit score. You want to ensure that you receive information from all three main credit offices: Equifax, Transunion, and Experian. Be careful not to use free credit reporting services such as Credit Karma. They tend to employ the Vantage rating method that does not provide the current FICO loans. Check instead to see whether they give FICO score for your bank or credit card provider. In general, lenders draw information from all three credit offices and utilize the middle score. So you …

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Spanish Bank Transforms Irish Mortgage Market

Spanish mortgage provider Avant Money has just introduced a new range of products that have the potential to transform the Irish mortgage market. Avant Money has become the first mortgage provider in Ireland to offer a 30 year, fixed rate mortgage. In this type of mortgage, the repayments will be the same every month for the entire 30 year lifetime of the loan. Avant Money’s new fixed rate mortgages have lifetimes between 15 and 30 years, and offer rates as low as 2.25 %. These new long term offerings were introduced shortly after Finance Ireland shook up the market with its innovative 20 year mortgage. These latest moves by brokers represent a huge step for the Irish market, as product offerings here are beginning to more closely resemble that of Spain and France.

Because wholesale interest rates are currently at historic lows, homeowners in Ireland are more increasingly taking out longer term fixed rate loans. Avant Money’s new portfolio of products includes 15 year, 20 year, 25 year, and 30 year fixed rate mortgages, and the rates vary based on …

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5 Negotiating tips to make sure you get the best house price

When buying a home, you can expect to negotiate with the seller or estate agent for a better price. In fact, many homes end up selling below the asking price, since most sellers ask for slightly more than market value to account for negotiations. Your ability to negotiate could have a huge impact on whether or not you pay the best possible price for your property. Here are some tips to help prepare you for this part of the home buying process.

1. Don’t be afraid to negotiate

While asking for a better deal may seem awkward at first, it is completely normal to haggle for a house price. The reality is that haggling and negotiating happens regularly in the real estate business, and many homes sell below asking price every day. Most sales people are not offended by you asking for a better price, and it is often quite the opposite, as this signals your interest in buying the property. However, it is crucial to ask politely and avoid any hostility and confrontation during negotiation.

2. Research the local …

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 How to Choose the Best Mortgage Lenders in Ireland

Currently, there are 10 mortgage lenders in Ireland. These include Ulster Bank, ParmanentTSB, KBC Bank Ireland, ICS Mortgages, Haven, Finance Ireland, EBS, Bank of Ireland, Avant Money, and Allied Irish Banks. All of these mortgage lenders are financial institutions which give home loans to people who aspire to own a home.

You are probably thinking about how to pick the best of the 10. When choosing the lender that best suits your need, the major factor to take into consideration is the amount of mortgage you want to borrow. Each of the 10 mortgage lenders in Ireland will make an assessment of your assets, debt, and credit score, each differently. You should note that the Loan to Value Ration (LTV) is  the most important pieces of information that the lenders will look. LTV is calculated by dividing the money you are borrowing with the property’s estimated value. With the LTV, the lender will be able to understand the risks involved with lending you the mortgage. Normally, the LTV of a loan is 80 percent or less. It is important to …

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Is it Expensive to own a house in Ireland?

Dreaming of owning a house in perhaps one of the best tech countries in the making? The yearly rate of house owning in Ireland has finally fallen to less than one percent as the cost of owning houses has been continuously falling. In Ireland, you must conduct the majority of your property searching on your own. Real estate agents will only display you homes that they have listed, not those that have been listed by other agents.

Once you’ve narrowed down your desired area, start looking in local newspapers and internet. Create searching notifications to get notified as soon as homes matching your requirements become available. You must also contact and enroll with properties for sale agents in your desired region. A property assessment should be a condition of any purchase you place on the property. Because the seller in Ireland would be under no duty to reveal faults in a property, you should just get a full survey to see whether there are any before completing the purchase. Certified auditors in Ireland are represented by the Association of Certified …

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Technologies Transforming the Mortgage Industry in Ireland   

In Ireland, the mortgage industry has began a journey of digital transformation. The transformation has been fueled by the increase of home buyers who are tech-savvy, and the need to handle the challenges caused by the COVID-19 pandemic.

In 2020 alone, the mortgage industry was pushed into a new era of technology that arose due to simple necessity. When the virus began wrecking havoc in Ireland, most companies were reluctant to invest in technological tool. However, many lenders now understand the need to provide online mortgage solutions with an aim of appealing to the borrowers who are socially distanced. There are three major technology trends that mark major transform in Ireland’s mortgage industry.

The first in an increase in the adoption of Application Programming Interface (API) to streamline various business processes. APIs have began to help mortgage providers to improve their efficiency through the automation of their workflows and as a result, they have been able to guarantee the accuracy of their data while helping them comply with the Irish regulations. Without a doubt, the lack of efficiency in the …

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5 Features that make a profitable Rental Property

Investing in a residential rental property can be a great and profitable way to boost your investment portfolio. However, real estate is a tough business. For this reason, it’s important to do detailed research on the pros and cons of real estate investing before buying your first property.

It is important to start your search for property before bringing an agent into the picture, as they may pressure you to an investment that is not best suited for you. During this preliminary research, you’ll want to narrow down several key characteristics you are looking for in your property, such as size, location and amenities. In this article, we will discuss 5 key features to look for to ensure that your real estate investment is a profitable one.

1. Know Your Neighborhood

The location of your property is one of the most important things to consider. Knowing which type of neighborhood you are investing in will determine the type of tenants you will attract, as well as your vacancy rates. For example, if your property is near a university, then you …

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What you need to know about buying a house that needs renovations in Ireland

Are you buying a house that needs renovation? Do you have a way of funding the renovations? In Ireland, there are many different ways of funding renovations. These include taking out a credit union loan or a bank loan after completing the purchase of the property. If you do not want to incur high loan interest rates, you may opt to save some money and gradually do renovation once you move into the new house. Additionally, you can also borrow money for the renovation as part of the mortgage. 

Before you think of all these, is the house habitable? Does the bathroom, kitchen and heating work? If it is not habitable, the only option you have is getting the mortgage provider to lend you the money to renovate. It is important to note that you will not be given a mortgage on a house that you cannot live in with the claim that you plan on renovating at a given point in time. In Ireland, there are two types of house renovation. These include, structural and non-structural renovations. Both …

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