Wednesday, March 16, 2011
Yesterday, mortgage experts said BoI was set to hike its fixed rates in days. “Bank of Ireland will follow this with similar increases,” Karl Deeter, of Irish Mortgage Brokers, said. And Mr Deeter criticised the fact that homeowners did not receive any warning about AIB’s move to push up its rates.
“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.”
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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, 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.
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.
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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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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
According to Karl Deeter, of Irish Mortgage Brokers, trying to second-guess the market in the long term is “an impossible art” and the time to fix, for many, has already passed. He points out that this time last year Permanent TSB was offering a 10-year fixed rate from 4.6 per cent, compared with 9.1 per cent today. “The horse has already bolted,” Deeter says. “The smart money always goes first and the stupid money goes at the end.” He recalls clients with seven-figure mortgages who left low-cost trackers early last year to sign up for 10-year fixed-rate mortgages to give themselves a degree of security until 2020, but he would not advise people to do that now.
Also filed in Accountancy, Accountant, Advisors.ie In the Press, Financial Advice, Fixed Rates, Savings
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Tagged advisors.ie in the irish times, best fixed rates, conor pope, fix your mortgage, fixed rate mortgage ireland, irish fix mortgage, to fix or not to fix
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Sunday, February 20, 2011
We were delighted to get mentioned in the Sunday Independent, a paper that has over 1,000,000 readers. The piece was by Daniel McConnell and was titled ‘Personal debt crisis will be country’s next body blow’.
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Tagged accountancy, banking, ebs, fixed rates, mortgages, personal accountants, ptsb, sunday independent, taxation
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Thursday, February 17, 2011
FIRST-TIME house buyers risk losing up to €26,100 in mortgage interest tax relief if they put off purchasing until next year. Karl Deeter, of Irish Mortgage Brokers, said: “Couples would have to earn an extra €50,000 before tax to make up for the interest relief they’d lose by not buying in 2011. They’re better off buying now, even though houses prices are likely to be lower in 2012.”
Thursday, February 17, 2011
e were pleased to get a mention in the Sunday Times article by Niall Brady on the topic of rising costs: Irish Mortgage Brokers: Deeter has opted for Permanent TSB’s 10-year fix of 4.5% for the new home he hopes to move into in six weeks’ time. This is the best long-term fix available, although it will cost considerably more than the tracker loan on Deeter’s current home.
