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.
Filed in Accountancy, Advisors.ie In the Press, Banking, Debt, Financial Advice, Mortgages, Property, Savings
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Also tagged bonus, john finnerty, loans, mortgage news, mortgages, ptsb, rates, rte news at 1, tracker mortgage
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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”.
Filed in Accountancy, Advisors.ie In the Press, Banking, Insurance, Property
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Also tagged accountants, advisors.ie, ifg, karl deeter, lisa o'carroll, mortgages, negatiive equity insurance, negative equity, property
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Thursday, September 8, 2011
Our regular piece on The Morning Show with Sybil & Martin was about debt forgiveness this week, great conversation in an easy to interpret manner.
Thursday, August 25, 2011
We were delighted to help out again on The Morning Show on TV3 with Martin King & Aisling O’Loughlin who was sitting in for Sybil Mulcahy. We spoke about credit cards and then ran a live twitter personal finance clinic
Filed in Accountancy, Advisors.ie In the Press, Credit Cards, Debt, Financial Advice, Taxation
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Also tagged aisling o'loughlin, credit, dublin financial adviser, karl deeter, martin king, money help, personal finance, the morning show, tv3, twitter clinic
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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.”
Irrespective of what you may read or hear, there are property transactions occurring. According to the CSO the price drops are about 40% from peak. The amount of mortgage lending may is down 90%, if you are a Rothschild at heart then the adage ‘when there is blood on the streets, buy land’ is ringing in your ears.
Sometimes financial decisions are not about saving money, but about spending money to avoid loss. This is what much of insurance is, it is acknowledging a risk and taking a step to mitigate that risk at an appropriate price. In finance fund managers do it all the time and call it a ‘hedge’, which is where the term ‘hedge fund’ came from. Today we are going to take this down to the more simple scenario of protecting your home and looking at the cost of doing this.
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.
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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Also tagged change in rates, mortgage advice, mortgage help, mortgage hike, mortgage rates, rate hike, ulster bank, ulsterbank, variable rates
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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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Also tagged building a financial portfolio, personal finance, portfolio
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