Thursday, October 27, 2011
We were mentioned recently in the Irish Times by Frances O’Rourke in a piece about first time buyers. Mortgage broker Karl Deeter is just as certain of the trend towards houses: “The overwhelming majority of our clients, over 90 per cent, are not looking to buy apartments.” He doesn’t think people are – or should – make a decision to buy on the basis that their mortgage repayments would be similar to their rents. Many people will stretch a little to pay the mortgage on a house they plan to live in forever “or at least the foreseeable future”. (He also reminds would-be buyers that mortgages taken out next year will get a reduced rate of mortgage interest tax relief before it disappears after 2012.
Filed in Accountancy, Advisors.ie In the Press, Financial Advice, Mortgages, Property, tax relief at source, Taxation
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Also tagged finance, frances o'rourke, irish times, karl deeter, mortgages, trs
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Tuesday, October 25, 2011
We were happy to comment on this piece by Martina Fitzgerald of RTE
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, financial advice, ifg, karl deeter, lisa o'carroll, mortgages, negatiive equity insurance, negative equity
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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.
Filed in Accountancy, Accountant, Advisors.ie In the Press, Banking, Debt, Mortgages
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Also tagged bank lending, banking figures 2011, brokers, credit growth, first time buyers, irish banks, loan origination, mortgage statistics
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Fred Harrison talks about the way in which infrastructure spending can result in a wealth transfer which largely goes uncollected, compelling viewing.
Midweek on TV3 had a segment on debt forgiveness and it featured some commentary from Karl Deeter of our company. The piece is above, the topic is provocative!
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.
Monday, February 14, 2011
We were covering mortgages in this weeks Irish edition of News of the World, looking at the affects of changes in taxation and other aspects that could make the cost of a house rise even though the price may fall.
Filed in Accountancy, Advisors.ie In the Press, Economics, Financial Advice, Mortgages, tax relief at source, Taxation
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Also tagged accountants, financial costs, money saving, mortgage costs, mortgage price, news of the world, price v cost, price versus cost, tax relief at source, trs
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Thursday, January 13, 2011
We were delighted to be part of TV3’s ‘The Morning Show, with Sybil & Martin‘. We are fans of the show and enjoy the relaxed nature of the conversational commentary style they are so adept at. In this clip we spoke about the costs of finance and the potential removal of fixed rates, while Marian Finnegan (of SherryFitzgerald) covers housing, her background is in urban economics and she lectured at both NUIG and UL before moving to SherryFitzgerald. We hope you enjoy the clip.
