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.”
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.
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.
Thursday, February 3, 2011
Financial adviser Karl Deeter of Irish Mortgage Brokers said other lenders would follow Permanent TSB. He advised affected borrowers to sign up for a two-year fixed deal of 5.19pc.
Thursday, January 13, 2011
“Banks and building societies are planning to abolish fixed-rate mortgages because they are too expensive for lenders to provide, according to a leading mortgage expert. Banks would prefer to have borrowers on products with variable rates, which can be increased whenever lenders want, according to Karl Deeter of Irish Mortgage Brokers — who correctly predicted last year’s rises in variable rates.
Filed in Accountancy, Advisors.ie In the Press, Banking, Economics, Financial Advice, Mortgages
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Also tagged advisors in dublin 2, charlie weston independent, dublin accountants, financial advice, fixed rates, mortgage market trend outlook, mortgage rates, mortgages
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Tracker mortgages may not see any increase in price until 2012 according to Charlie Weston of the Irish Independent
