A new tax on rents over €2,500

This year a new tax bill in Dublin was introduced that has not been welcome amongst the public. As we see rents rapidly increasing in Dublin, a 1 percent stamp duty on rents over €2,500 becomes ever more pertinent than before.

 

This 1 percent duty was initially set at around €1,500 month. It was then raised to €2,500 after the financial crisis to help relieve some of the pressure on tenants.

 

However, it has now came to that level where a more massive amount of people are hitting this €2,500 a month target.

 

With housing rates increasing rapidly, an analysis by Goodbody Stockbrokers claimed around 55 percent of three-bedroom Dublin homes are above this €2,500 level on the Daft.ie. A third of all these properties are in the same area.

 

What does this mean for many families?

On …

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WLR FM – discuss a new mortgage lender with Karl Deeter

We were pleased to talk to WLR FM about the potential entry of Investec into the mortgage market in Ireland. A little secret also got out towards the end of the interview!

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Stepstone Mortgages, Another Irish Sub Prime lender bites the bullet.

When IIB launched their sub-prime lender ‘Stepstone’ the plan was for them to be the inverse of what The Monkeys sang about, they would be your ‘stepping stone’ towards financial stability, they looked specifically at clients who were recently self employed and therefore wouldn’t have 3 years of accounts, people who wanted to refinance who may have had arrears, and other standard specialist lending clients.

Now Stepstonehave joined the slowly (but disturbing) list of Irish Banks to close their doors for business. This means that the Irish financial industry will have to face up to the reality of unsteady world money markets in an ever more local perspective, it’s no longer happening ‘over there in the US’ or ‘across the water’ anywhere else, its up close and personal, especially for the people who were made redundant this week. I feel bad for them, they all did a great job and they were certainly not behind the decision to close up shop, it will also decrease competition in the industry as the number of …

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