“While banks may be able to contain bad-loan losses on their mortgage books, “a big and ongoing problem is that a large part of their mortgage books are based on ECB tracker rates, which banks are funding at a loss,” said Karl Deeter, operations manager with Dublin-based Irish Mortgage Brokers.”
Also filed in Advisors.ie In the Press, Banking, Economics, Financial Advice, Mortgages
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Tagged accountancy dublin, banking, bloomberg housing, bloomberg karl deeter, deeter on bloomberg, dublin accountants, financial news, irish banks, tax advisor dublin 2
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Karl Deeter, operations director with Irish Mortgage Brokers in Dublin said he was in favour of a property tax if it was implemented correctly and if less income tax was paid by taxpayers. ‘‘People would be more willing to spend more if income tax was reduced. It would prove to be productive.”
‘‘The second homes tax is an example of revenue raising, the only justification is that it is a tax on owning an asset. Literally I could own a castle or a cottage and I’d have to pay a flat tax it’s stupidity. The introduction of a property tax would have to mean scrapping the second homes tax,” he said. ‘‘Otherwise it doesn’t make sense, and the property tax should be offset against investors’ tax bills. The property tax should be allowable as an expense for investors.”
Also filed in Advisors.ie In the Press, Financial Advice, property tax, Property tax, Taxation
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Tagged local taxes, lvt, municipal bonds, municipal taxes, property tax, site value tax, site value taxation, svt
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Karl Deeter, of Irish Mortgage Brokers, also expects banks to increase standard variable rates by more than the ECB hikes rates. He said it was likely that banks would raise rates ‘‘irrespective of what the ECB do’’, given the gap between the cost of funds that banks face and lending rates.
This week we looked at the issue of pensions and the fact that the real storm clouds on the horizon are not the NAMA, IMF/EU bailout or sovereign debt, but rather that of pension provision. The recent changes in the National Pensions Framework have gone some way towards addressing this but at some stage they will need to go farther or we will need a total re-think on pension provision, the final alternative being a total reduction in entitlements or massive contributions for qualification.
Also filed in Advisors.ie In the Press, ARF, News of the World, Pensions, Savings, Taxation
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Tagged amrf, arf, irish pension advisors, pension advice, pension advice dublin, pensions, pensions experts, retirement ireland, retirement planning
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We were delighted to feature again on TV’s ‘The Morning Show with Sybil and Martin’ (although Brian was sitting in for Martin) on their monthly property slot.
This week we spoke about the necessity of price drops to get a property sold, it is likely the single most important factor, it is also overlooked that there is often a carry cost or opportunity cost loss if sellers don’t drop prices.
Also filed in Advisors.ie In the Press, Economics, Financial Advice, Mortgages
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Tagged 100% mortgages, apply for a mortgage online, brokers in dublin, irish mortgage broker, irish mortgage brokers, irish mortgage brokers pearse street, karl deeter, mortgage broker, mortgage broker dublin, mortgage brokers, mortgage brokers dublin, mortgage brokers ireland, www.irishmortgagebrokers.ie
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Our weekly column in the Irish News of the World is here. This week we looked at the EU gender directive case that was to be heard today and news is just in that it passed. This is interesting as it means that in the future that insurance companies will not be able to price people according to their sex, they will have to use other methods. This is interesting, many people accept that young males are ‘more risky’, but while this is statistically true it isn’t down to biology alone and for that reason they are saying you can’t use biology to underwrite, rather you will have to seek to pinpoint that risk and identify it then price it.
Also filed in Advisors.ie In the Press, Insurance, News of the World
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Tagged accountants, brokers, dublin insurances, eu ruling on insurance, gender directive, gender equality in insurance, insurance pricing based on sex, insurances dublin, mens car insurance
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Monday, February 28, 2011
We were pleased to get a mention in Saturday’s Independent in an article by Charlie Weston about KBC Bank removing their switcher deal, our quote that appeared is below. Operations director of Irish Mortgage Brokers Karl Deeter said EBS and KBC would still accept switches but no longer offer an incentive. EBS dropped its switcher offer last year. “This is the final death knell of loan incentives in the mortgage market. Now, far from wanting your business, banks want to find ways to turn you away or charge increasingly higher rates,” Mr Deeter said. He said switching offers and fixed rates were going to be the victims of this year’s mortgage market. “The last switcher offer just died, and fixed rates are being whittled away.”
Tuesday, February 22, 2011
rish Mortgage Brokers director Karl Deeter said the bank was effectively now out of the fixed-rate market, as new customers could only get a fixed rate if they were borrowing less than half of the value of the home. He added that only a small number of existing borrowers would qualify for a fixed rate, but with the rates so high nobody would take them up.
Monday, February 21, 2011
Do you want a person who can merely do up your books and has the credentials to stand over the final figures? If so then Advisors.ie is perhaps a solution for you.
If you’d rather have a person who can look at your business, do you books, finalize figures and perform an audit where necessary then we are likely the solution for you.
But if you want an accountant in Dublin who can do all of that and also figure out ways to cut your costs, reduce your tax bills and use the best methods for ensuring that you stay in business and don’t pay more tax then necessary, while also being able to advise you personally on your finances and also shop around on your behalf for cheaper solutions for the financial products and services you use then we are definitely the people you are looking for!
Also filed in ACCA, Accountant, Financial Advice, Insurance, Savings, Taxation
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Tagged accountancy dublin, accountant for tax, accountants, city centre accountancy, city centre accountants, dublin accountants, financial advice, financial advisors, retirement advice, sme accountants, tax accountants, tax advice
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Monday, February 21, 2011
We were pleased to get a mention in the Sunday Times article by Kathy Foley called ‘buy to fret’. You can find her on Twitter too! We don’t often find such a candid quote as the last part of the mention we got! “The banks are all saying investors have to be first to give up the ghost,” said Karl Deeter, of Irish Mortgage Brokers. “They will lean heavily on them and get a judgment because they didn’t do what the bigger people do and isolate the loan, buying the property through a limited company. “Nobody feels any sympathy for them.
Also filed in Advisors.ie In the Press, Banking, Financial Advice, Income Tax, Investment, property tax, Property tax, Section 23, Taxation
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Tagged accountancy dublin, advisors.ie accountants, buy to let problems, can't pay mortgage, city centre accountants, mortgage problems, sunday times buy to fret
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