RTE Drivetime: Talking Money with Karl Deeter & Jill Kerby

We started off our ‘Talking Money’ series with RTE’s Drivetime (tune in Monday’s at 18:15!) with a talk about the effects of overpaying debt, in particular mortgages.

Paying off debt can often be better than savings because of the difference between the effect debt has on your wealth versus the effect of earned interest on savings. We covered all the bases and tried to explain it in plain English.

We hope you enjoy the weekly pieces which will run through the summer, and don’t forget to write down the hot tip we have each week!

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Loan refusal statistics: what do they mean?

There are two sets of statistics floating around; on one hand you have the banks who claim that they are lending and also that the demand for credit simply isn’t there – a belief further expounded by John Trethowan. Then on the other hand you have the likes of PIBA who counter claim that 80% of applications are being refused.

So it is important to break down the vital components. First of all, the debate often centres around Small Medium Enterprise (SME) lending; even if demand for that type of credit isn’t there it doesn’t automatically translate into a reduced demand for mortgages. The point being that we can’t compare SME loans/business loan demand to that for mortgage credit.

Secondly is ‘what constitutes a refusal’, and this is where common sense diverges. Even the bank accept that if you seek €200,000 and are only offered €100,000 that it is a loan not fit for purpose, this even goes …

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