Affordable Home Schemes

With the current housing crisis in the midst of the country, many plans have been developed to get the country out of its current slump. Some merely get laughed at, while others are well on their way to implementation within the housing market. It is likely that before long these effects will take a toll in the market and we will begin to see some upward movement in home buyer confidence.

The government has been quick to release multiple initiatives set out with the goal to turn the crisis around and allow the market to begin looking up. The Home Loan Scheme recently announced by the government is designed with the strategic plan to provide low-cost mortgages to first time home buyers.

With the first announcement of such a plan, many home buyers are thinking; is this too good to be true? As they have been waiting for an extended period of time for some light to be shed on the crisis that allows them to finally move into the homeowner sector.

The Rebuilding Ireland Home Loan …

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Best mortgage interest rates for first time buyers

The current market is heavily weighted in favour of the buyer and for that reason we have seen more first time buyers interested in finding out how much they may qualify for, albeit that they may not plan to buy any time soon, many people still seem to be holding out for the ‘market bottom’, and naturally we don’t know when that time is, will be, or was (because it could have been last week, only time will tell), it is only with hindsight that the actual bottom can ever be accurately identified.

Another reason is that there are expected rate cuts coming, the next will be delivered at the 4th of December meeting of the ECB next Thursday. Many potential buyers are thus going to wait to see what kind of drop is delivered, if Trichet indicates that another may be in the pipeline it will have a strange effect of causing the inverse of what monetary policy is intended for.

The question we are getting recently is ‘what …

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ECB announce €200 Billion injection

The ECB have just announced a €200 billion plan designed to stimulate eurozone economies, it is unlikely though that Ireland will take part in any of the plan. It was unveiled earlier today by Jose Manuel Barroso, €170 billion will come from member states and the remainder will come from the European Budget and the European Investment Bank.

Ireland has no room for further fiscal stimulus at present according to the Department of Finance, the foremost issue with Ireland is (according to Europe and our own government) is to get our spiralling deficit under control. One aspect of the stimulus is that €5 Billion will be going towards building greener cars (maybe this is the big break the AirCar has needed!).

The EU are taking these measures to avoid further downturn and to do so with coordinated policy responses. In the USA they announced an $800 billion Dollar stimulus plan. Both LIBOR and Euribor rates fell which will …

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