May 2019 mortgage approvals offer high hopes

The mortgage scene is finally beginning to see some positive growth, especially for first time buyers. Recent figures have just been released for May 2019, which have shown substantial upward traction in regards to the approval of loans. 

The statistics indicated that there has been a 10pc increase in approvals when comparing May 2018 to May 2019. During May 2019, 4926 applications for loans were approved by at least one of the banks. Additionally, there was a 19.9pc increase from April to May of this year. 

Most of the approvals from May seem to have been heavily dominated by first time buyers, who made up 51pc. This demographic  is heavily marked to via social media and other online platforms. Additionally, banks advertise to this untapped market by offering exemptions that make getting a loan more affordable. 

This seems to have been effective, give that approvals are high for this month. If approvals are high, this indicated that there were also a very large number of first time buyer applications that the bank saw during the previous months. Mover purchases also …

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TV3 Morning Show featureing Irish Mortgage Brokers and MyHome.ie

TV3 The Morning Show with Sybil and Martin from Irish Mortgage Brokers on Vimeo.

We were delighted to feature on TV3’s ‘Morning Show with Sybil and Martin’ on their monthly property slot alongside Angela Keegan from MyHome.ie

In the piece we discussed the property market as well as the financial side of it and how changes to both interest rates and taxation changes could affect buyers in the future.

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First Time Buyers – What you need to know

If you are considering your first home then you should do a lot of research because today’s market is a tricky one, there is value to be found in 2008 if you look for it and know how to negotiate, however, for the naive it can also be fast method to part ways with your hard earned money.

Some developers are currently knocking up to €100,000 off the price of properties they are selling, this has gotten a lot of media attention, however it also begs the question ‘why?’, are we to believe that they suddenly want to help out first time buyers? Or are they trying to shift stock that they think won’t sell otherwise? The real question is whether properties were vastly over-priced and the prices reflected pure greed or is the developer being forced to sell due to financial reasons or what the underlying cause for something so drastic is.

If somebody offered me an iPod for €50 I’m not sure I’d be interested, I guess I’m a natural born skeptic. I’m not implying that houses with …

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