Dow Jones Industrial Average, S&P 500, NASDAQ: stock markets
Also filed in Accountancy, Banking, Economics, 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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We were mentioned in the Irish Independent (via our sister company): THE fact that private investors are prepared to put money into Bank of Ireland does not mean the bank will suddenly start lending to house buyers and small businesses, experts said yesterday. Although the investment move was welcomed, fears were expressed that personal and business customers would be hit with higher charges. This was because the bank was still short of funds, director of Irish Mortgage Brokers Karl Deeter warned. And there are fears that variable rate customers will now be hit with hefty rises in rates. Mr Deeter said there would be no immediate flow of credit for house buyers and small firms.
Also filed in Accountancy, Advisors.ie In the Press, Banking, Economics, Mortgages
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Tagged accountancy, banks, dublin financial advice, financial advisors, financial planning, mortgage credit, sme accountants, sme credit
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Karl Deeter of Irish Mortgage Brokers said: “This will make it more difficult for those who can borrow to get access to funds. It raises questions about whether the money used to rescue the bank was worth it.”
In answer, let me quote Irish economist Karl Deeter, who recently said: “I think debt forgiveness is generally a terrible idea, and have only become an advocate as I watched a system evolve whereby investors have been insulated from taking loss at the expense of largely innocent bystanders [taxpayers]. In chasing the crisis down this rabbit hole we have perhaps avoided creating zombie banks, but we are creating zombie households in their wake.”
He continued: “The idea that this is a ‘punishment to the prudent’ [debt forgiveness] is a mistake. If so, then where is the ‘prudent rage’ against people receiving taxpayer-funded Mortgage Interest Supplement, which is paid to more than 18,000 households, while on the same street another person slaves to make their payments?
“Or the ‘prudent backlash’ by people who stayed out of the market entirely, against taxpayer money spent on rent supplement, which allows a person around the corner to enjoy a similar property for free?”
Also filed in Accountancy, Advisors.ie In the Press, Banking, Debt, Economics, Mortgages
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Tagged advice, banking guarantee, carol hunt, debt forgiveness, financial news, karl deeter, sunday independent
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We were invited onto The Morning Show to talk about ratings agencies, what Ireland’s ‘junk’ rating means and the bond market. Afterwards we held a live personal finance ‘twitter clinic’ where people could ask questions about personal finance.
Once a month we get to talk to Sybil Mulcahy & Marting King on their ‘Propertywatch’ piece. This month we were looking at auctions and ECB rate increases as well as general finance.
Also filed in Accountancy, Advisors.ie In the Press, Mortgages
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Tagged auctions, base rate, carol talon, ecb rate hikes, finance, karl deeter, martin king, mortgages, sybil mulcahy, the morning show, tv3
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The problems in Greece are weighing heavy on Europe; the worry is that Greece will be Dracula and suck the lifeblood out of the Euro, or they will go Drachma – returning to their own money. For now, they remain the focal point of almost every financial worry at present worldwide. At Advisors.ie we are getting calls from clients on a daily basis who are worried about their savings, wondering if their money is safe, and they ask us what they should do in order to protect themselves.
Also filed in ACCA, Accountancy, Advisors.ie In the Press, Banking, Deposit accounts, News of the World, Savings
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Tagged deposit guarantee scheme, deposit guaratnees, elg, eligible liability scheme, fdic, greek crisis, irish bank deposit protection
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Life doesn’t come with a set timetable, but the cycle of life can be reflected in the reasons for people buying and selling homes. They change jobs and move away, they have families and want bigger homes, they might grow older and downsize, or they die and it’s a probate sale.
Many Irish investors are guilty of failing to understand fully the risks involved in investment choices, according to Karl Deeter, head of client advice at Advisors.ie. ‘‘Sometimes the concept of a timeline is lost,” Deeter said. ‘‘People might invest in a medium-term product and are upset when it is down after year one, so they cash out at a loss.” According to Deeter, investors need to strike a balance between giving investments the recommended amount of time to perform and getting out at the right time. ‘‘People tend to hold on to bad investments too long or fail to book their gains when things go well,” he said.
BENEFITS to first-time buyers from drastic falls in property prices are wiped out by sharp increases in mortgage costs, new research shows. House prices have dived by 40pc since 2007, which means potential buyers would need a much smaller mortgage. But a series of mortgage-rate hikes by all lenders mean that the cost of servicing even a small mortgage has shot up. Mortgage expert Karl Deeter accused banks of capturing most of the gains for potential buyers of lower prices by pushing up mortgage costs.
