We were mentioned in an article by Charlie Weston in the Irish Independent about Ulsterbank. They have decided to jack up their variable interest rate by 0.6%, our response is below: Karl Deeter, director of operations at Irish Mortgage Brokers, said the move by Ulster Bank meant it now had one of the highest variable rates in the market. “This increase means there is no safe haven for borrowers if you do not have an existing fixed rate or a tracker,” he said. This accurately reflects our sentiments on the matter, there are effectively no ways for consumers to protect themselves.
Filed in Accountancy, Advisors.ie In the Press, Debt, Mortgages
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Tagged change in rates, financial advice, mortgage advice, mortgage help, mortgage hike, mortgage rates, rate hike, ulster bank, ulsterbank, variable rates
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We were pleased to feature in studio with Sharon Ni Bheolain of Six One news on the topic of the CSO Property Price index.
The headline this week is from the famous quote that ‘the only sure things in life are death and taxes’. We have looked at death in the past from the perspective of Life Assurance, this week it’s about taxes – and more importantly, what to do if you can’t pay them or if you are not sure about your taxes. The good news is that the Revenue Commissioners in Ireland are a fairly effective bunch and the people there are well briefed and effective (this is no surprise as their duty is to make sure everybody pays up!). Revenue are well aware of the state of the economy, and that business
Filed in Accountancy, Advisors.ie In the Press, Deposit Interest Retention Tax, Financial Advice, Income Tax, News of the World, Taxation
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Tagged 2003 taxes consolidation act, deposit interest retention tax, DIRT, paye tax returns, revenue commissioners, tax deadline, tax questions, tax returns, taxation, taxation issues
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Fred Harrison talks about the way in which infrastructure spending can result in a wealth transfer which largely goes uncollected, compelling viewing.
We are told that there will be a €500m package announcement today which is described as a ‘jobs initiative’. Formerly it was to be known as a ‘jobs budget’ or an ‘alternative budget’ (note that in the link there is also talk of ‘renegotiating the bailout’ – so U-Turns are becoming commonplace), this is the first Irish ‘downgrade’ in a while that hasn’t involved S&P.
Ask anybody ‘what would you do with some extra money?’ and you’ll get a lot of different answers, but this week it is your turn to decide. Because over the last three weeks we have shown you how to take a snapshot of your financial situation then how to use that as a blueprint in finding ways to save money. Without too much effort an average savings of €2,000 is possible simply by re-jigging some of your spending patterns, so where to from there? In finance there is a hierarchy that advisors tend to adhere to and in rank and order it is as follows: Protection, Investment, Savings, Retirement planning and Mortgages.
Filed in Accountancy, Accountant, Advisors.ie In the Press, Financial Advice, Gold and Silver, Investment, life assurance, Mortgages, News of the World, Pensions, Precious Metals, Savings
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Tagged building a financial portfolio, financial advice, personal finance, portfolio
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“Getting rid of debt is a good idea, and the new Permanent TSB bonus scheme puts a sweetener on it,” said Karl Deeter, head of customer advice with the financial advisers, advisors.ie. “If you don’t have a rainy-day fund, this is not for you. If you have debt elsewhere that is at a higher interest rate, it is a bad idea.”
You’ve a 25-year tracker mortgage of €250,000. If switching from your tracker rate of 2.25 per cent to the standard variable mortgage of 4.19 per cent, you would need a €47,000 payoff to break even, according to Karl Deeter, head of customer advice with advisors.ie. You would have to use this €47,000 to reduce the amount you are borrowing — so instead of borrowing €250,000, you borrow €203,000.
Filed in Accountancy, Advisors.ie In the Press, Economics, Financial Advice, Mortgages, Savings
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Tagged accountants, advisors, financial advice, financial advisors dublin, karl deeter, louise mcbride, trackers
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THE Government is to delay the implementation of an election promise to give up to €166 extra a month to those who bought houses during the boom. The move to help the “negative equity generation” will not now be in place until the end of the year at the earliest, the Irish Independent has learned.
In last weeks instalment we started by asking you to set up two things, firstly was to fill in a ‘standard financial statement’, this is now the foundation of your budget, the second was to start a ‘spending diary’. These two items will form the twin pillars of changing your wealth.
Filed in Accountancy, Advisors.ie In the Press, Financial Advice, Investment, News of the World, Precious Metals, Savings
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Tagged best savings choices in ireland, financial planning, how to make a financial plan, how to start savings, investing, standard financial statement
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