We are pleased to be writing for the Sun on Sunday, we think that taking high finance to people on the street in an easy to understand format in plain English is noble work, we hope you enjoy the column and are glad with the big number of questions we are now getting every week.
Also filed in Accountancy, Accountant, Advisors.ie In the Press, Bonds, Economics, Property, Sun on Sunday
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Tagged ela, emergency liquidity assistance, exceptional liquidity assistance, karl whelan, michael noonan, patrick honohan, promissory note, sun on sunday
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Wednesday, March 14, 2012
We were quoted in three separate articles in the Sunday papers this week.
The Sunday Times mentioned the report we did with MyHome.ie on property prices for investors (here), the full report is available over on MortgageBrokers.ie on the blog (here). Our view is that for investors there is still not a highly compelling reason to get into property.
Also filed in Accountancy, Accountant, Advisors.ie In the Press, Debt, Financial Advice, Insurance, Mortgages, Property, Sun on Sunday
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Tagged bank, dublin accountants, financial planning, financial review, insurance, personal financial advice, sunday business story mortgage, tax advice
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Tuesday, January 31, 2012
We are delighted at the announcement of the new Personal Insolvency Bill and while there are issues around it (as there would be with any new legislation); on the main we are satisfied that it is fit for purpose and is a big step in the right direction.
Also filed in ACCA, Accountancy, Accountant, Advisors.ie In the Press, Credit Cards, Debt, Financial Advice, Mortgages, Personal Insolvency
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Tagged dra, drc, fiduciary responsibility, personal insolvency practitioner, personal insolvency trustee, trustee training
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Tuesday, January 10, 2012
We were pleased to feature on this story by Paul Colgan of RTE about banking and rates charged by different lenders. He also considered whether or not future ECB rate cuts would be passed on to borrowers.
Also filed in Accountancy, Advisors.ie In the Press, Debt, Financial Advice, Mortgages, Wealth
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Tagged aib, bank rates, financial news, karl deeter, michael dowling, mortgage rates, mortgages, paul colgan, ptsb, rte news, variable rates
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Tuesday, November 15, 2011
We were interviewed by RTE News at One with John Finnerty. The topic was a potential bonus scheme that PTsb are likely to announce for tracker mortgage customers who pay down their loan early. They are doing this because they want to deleverage and if they include repricing in the option then it may give them the ability to make money on these loss making loans.
Also filed in Accountancy, Advisors.ie In the Press, Debt, Financial Advice, Mortgages, Property, Savings
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Tagged bonus, financial advice, john finnerty, loans, mortgage news, mortgages, ptsb, rates, rte news at 1, tracker mortgage
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Monday, September 26, 2011
We were delighted to be this weeks ‘Insider’ at the Sunday Business Post, we looked at the mortgage market statistics and the idea of recovery without austerity.
The truth is a hard thing to suppress. Last week, we had another stark revelation about the mortgage market after RTE reported that there are now e20 billion in home loans with some level of arrears. That represents about one in six loan accounts.
Also filed in ACCA, Accountancy, Accountant, Advisors.ie In the Press, Economics, Wealth
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Tagged economics, finance, marshall auerback, mmt, modern monetary theory, recovery without austerity
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Monday, September 19, 2011
Our sister company Irish Mortgage Brokers was mentioned in the Guardian online about ‘negative equity insurance’. Our comment on the piece is below:
“The vendor has to fund this out of their own cashflow,” says Karl Deeter of Irish Mortgage Brokers. So it will only suit those that have a very small mortgage – mainly older people and those that bought long before the peak – because those are the only ones who will make a profit on their property sale. Deeter is sceptical the insurance is the way to kick-start the moribund Irish market. “It’s part of the general medical box but it’s not the cure,” he says. Deeter is of the view that the government needs to bring in a personal insolvency laws urgently, like Chapter 13 in the US AKA, “wage earners bankruptcy”.
Also filed in Accountancy, Advisors.ie In the Press, Insurance, Property
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Tagged accountants, advisors.ie, financial advice, ifg, karl deeter, lisa o'carroll, mortgages, negatiive equity insurance, negative equity, property
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Monday, September 12, 2011
It is likely the case that deposit rates will start to go into a downward move as the ECB drops its odds of raising rates and as banks seek to find margin (which they can do via lower deposits). This contrasts with the massive funding issues the banks are having (and the country for that matter!), but it is still important to see that a guaranteed 4% plus return is possible and on that basis locking away some cash is a good idea. The excerpt is below:
‘‘There is an argument to go out one year at 4 per cent,” said Karl Deeter of advisors.ie. ‘‘Locking it away is the downside. Rates are coming down, but banks might be so deposit-hungry that they keep savings rates up.”
Also filed in Accountancy, Advisors.ie In the Press, Deposit accounts, Financial Advice, Investment
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Tagged bank deposits, deposit broker, deposit rates, deposit statistics, irish bank deposit rates, irish deposits, which deposit rate
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Dow Jones Industrial Average, S&P 500, NASDAQ: stock markets
Also filed in Accountancy, Economics, Financial Advice, Investment
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Tagged dow jones, dublin etf, financial analysis, ireland etf, karl deeter, nasdaq, s&p, short etf
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Operations manager with Irish Mortgage Brokers, Karl Deeter said banks will claim they are lending but on the ground it’s an “entirely different story”. “They don’t want to know except where you are a public sector worker or the type of person who banks would always lend to anyway,” he said. “With figures showing that 80% of mortgage applications are being rejected, it puts the banks in the enviable position of being able to cherry-pick only the best applications, declining even cases that fit criteria but are marginal. “This is contrary to giving the taxpayer back a return on our national investment because they need to lend to make profit, but equally, our pillar banks are charging artificially low rates versus the rest of the market, so not only are they cherry-picking but there is an implicit subsidy being paid to those who borrow via taxpayers who fund the banks. It’s a crazy set-up,” he added.
Also filed in Accountancy, Accountant, Advisors.ie In the Press, Debt, Mortgages
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Tagged bank lending, banking figures 2011, brokers, credit growth, first time buyers, irish banks, loan origination, mortgage statistics, property
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