How to be an ethical investor

First, it is so hard now even before the pandemic to avoid the issues of human rights violation, climate change, corporate abuse, and much more. Sometimes even donating to organizations it is hard to feel those impacts. It causes us to feel crushed by all the problems happening around us and ignore them altogether. But have you taken a deeper look into your investment portfolio? You might ask yourself, is my money-making things better or worse? How can I only donate, but help myself and others in a sustainable way?

Of course, our intentions for investing are obviously to grow our money’s worth for the long or the short term, but on the flip side, the cost of the profits for the company might be quite damaging to not only us but to others. Although you are using your money for good intentions does the thing you are investing in believe in the same morals and principles as you are? Do you continue to take part in this system pretending nothing is happening or is there a better way to …

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How the Irish Government is handling its finances

During the secondary shutdown across Europe last December, the imposition of Level 5 restrictions has led to the fall of vax receipts seen this past January. Total tax revenue for the month of January 2021 was down nearly 9% compared to previous months, coming up to be around €520 million €5.4 billion.

Of the tax receipts, the VAT receipts have been hit the hardest. This largely is due to the impact of the decrease in consumed goods over the traditionally hectic Christmas period. In addition, there has been a continuous drop in excise duty, stamp duty, and corporation tax. The one exemption to all this would be the Stat’s income tax, which is their largest tax channel. This channel has performed better thane expected, which has become a common occurrence. The income taxes generated over €2.3 billion in January alone, which is up around 4% compared to the same month in 2020.

In forecasting how the economy will move in the future, the department states the suspension of its normal monthly tax profiles will soon be implemented. This is largely …

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Concern for Housing Supply in Ireland

COVID regulations have hit many markets hard, but possibly the worst be in the housing industry. Due to certain restrictions, the housing supply of homes built between 2020 and 2022 is predicted to be 23,000 fewer than normal. This, combined with the growing demand for housing as well as the built-up saving of household revenue during the pandemic could cause the demand for housing in Ireland to skyrocket, leading to higher pricing. Over the last year, it is predicted that over €13 billion have been saved up by families in Ireland, and with that many households are looking to improve their housing situation at the end of quarantine. The spending demand of these households far exceeds to the market supply of housing to be offered to said customers.

The Central Bank predicts that there will be 18,500 new housing completions in 2020, and in 2021 and 2022 that number will rise to around 22,000. This in total will be 23,000 fewer houses entering the market in these three years compared to the normal growth rate of housing supply prior to …

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Healthy Relationships with Money and your SO

Lots of people say money complicates things. Well, it may be true in some situations but being transparent about your significant other and money is important. Over the years you will attract what you are worth and what you put out there. How you act to others is a direct effect of how others will view you, this is not only for significant others but friends, family, etc. You worried you are with the wrong person or attracting the wrong people you might need to start reevaluating yourself.

Speak to your partners. Do you like saving money? Do you like investing? Do you like getting good deals? Communication is key. Being on the same page with each other is important to know each other’s values. By doing so, as partners you can start compromising to avoid unsaid annoyances. Letting each other know right from the beginning shows exactly who you are and who they are. It makes it easy to find someone like you or believes in the same things as you.

Money may be a taboo topic. Having conversations …

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The Growing Trend of Taking Longer Mortgages

According to a newly done study by the Nationwide Building Society; in the past year, nearly 70% of first-time buyers took out a mortgage beyond the traditional term of 25 years. This starkly compares to how less than a decade ago, that rate was less than 50%. There was a 45% rise in first-time buyers taking out an initial term of more than 25 years.

The longer the mortgage period, the higher the overall costs will be, even with a lower interest rate. The total significant costs for the mortgage can lead to the consumer paying for more than expected. It is calculated that taking a mortgage plan from 25 years to 35 years can have an increase in the total payment of the mortgage by nearly 40%.

While the market house prices continue to rise, the earnings of these first-time buyers have changed little. This creates a significant barrier for first-time buyers to make a deposit. A study shows that having a 20% home deposit nowadays is equal to 104% of the pre-tax income of an average full-time worker. …

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Social Media tips for Mortgage Brokers

Social media opens so many opportunities for mortgage brokers to expand and gain new clients. This is also an inexpensive way for brokers to reach advertise and target potential clients. It is a great idea for brokers to use all types of social media such as Facebook, Twitter, and LinkedIn. Each of these have unique ways of benefiting a mortgage broker and their business.

Facebook

Facebook is one of the most well-known types of social media that can be utilized. Over 2.4 billion people are using Facebook every month. When using Facebook for your business, you must make sure to advertise in the countries and cities that you are wanting to serve. Also picking your audience is another thing that brokers will want to pay attention to. Who are you trying to reach? What age, gender, or educational background. If you have any types of tips for clients on your company website, you can start sharing those one your Facebook page. Not only are these tips helpful for potential clients but they can also bring more traffic to your website …

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Mortgage Brokers and the Technology Revolution

Technology has been becoming a huge part of everyday life in today’s world. Almost everywhere you look, there is someone on their smartphone or working on their laptop. Even young children know the ins and outs of phones, tablets, and computers. You can control your home security from your phone when you are miles and miles away. There are smart TVs and smart cars that do things that were only thought possible in movies years ago. Speaking of movies, even those have moved online with apps such as Netflix, Amazon Prime, Now TV, or hayu.

With all this growth in technology, it is not surprising that banking would also go online. With banking and loans becoming more popular online, mortgages aren’t far behind. Many companies that haven’t been able to embrace the technology revolution tend to get left behind and go out of business. This is why it is important for mortgage brokers to embrace the technology revolution. Companies do not want to get left behind in today’s competitive market.

Many millennials who are the ones that grew up with …

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Getting a mortgage during the covid 19 pandemic.

There has been a lot of news about banks not lending to people who are receiving any wage supplements during the covid 19 pandemic. The initial headlines were about AIB who later rowed back on the decision not to assess any cases where people were on wage supports.

The other banks were more open to offering loans but they all have one basic trend in common which is that you can’t be on TWSS and draw down a loan. This may seem unfair but if you got a loan in July and were laid off in August in time a person would wonder ‘why did the bank give that loan?’ given that companies can only get wage supports if their turnover is seriously impacted due to the pandemic. So what can you do?

Delay: for many people they’ll be back to regular wages soon, talk to the people involved in your transaction and see if they are willing to wait. Withdraw: most contracts have ‘subject to mortgage approval’ in them. Ask your employer to take you off the support scheme: …

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How to get a mortgage in Germany

The rights to a real estate property that are held by the person who owns the property (house, land, apartment etc.) are given to a bank in order to receive other benefits in return. These benefits are usually cash benefits. The mortgage is used in banking as security for loans. The possible amount of the mortgage is determined by the value of the property. Mortgages can be given by banks. In case people need help regarding mortgages there are different branches that can help. Mortgage brokers help people to arrange the mortgage between the borrower and lender and a real estate agent helps buyers and sellers find or sell a property. Getting a mortgage has several advantages such as that the interest rates are generally lower than for other types of borrowing and that a mortgage is easy to repay due to it is repaid little by little on a monthly basis. But a mortgage can also be disadvantageous because the interest rates on mortgages are changing from time to time and can increase suddenly o the borrower has to pay …

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Brexit’s Largest Impact

Uncertainty is the overwhelming feeling that Brexit has brought onto the entirety of the EU. Here in Ireland, we are no exception. The fear of a large economic downturn is looming, and it seems everyone is fixated on what will happen when October 31st comes around.

The Irish economy as a whole was predicted to grow 4.1% in 2019 and forecasted an increase in the GDP of 3.7% in 2020 according to the European Commission. This however was predicted without considering the effect of a hard exit by the UK. A hard exit could bring an economic fall out consisting of lowered income levels, and higher unemployment rates. Experts from the Economic and Social Research Institute suggest that these conditions can lower the intense growth of property prices since the low in 2013. The Central Statistics Office says this growth has been just over 86% within those 6 years. Housing demand is likely to lower, affecting mortgage companies, brokers, and families trying to sell or relocate.

However, the housing industry will likely not be the hardest hit industry from the …

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