This article originally appeared in the Sunday Business Post on the 7th of July 2015 It seems to be a fait accompli that the banks will drop mortgage rates because the Minister of Finance told them to do so. Thus far talk of any pitfalls are being avoided in the belief that subsidising a certain […]
Filed in Accountancy, Advisors.ie In the Press, Banking, Economics, Fixed Rates, Mortgages, Property, Wealth
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Also tagged fixed mortgages, irish loan rates, irish mortgages, michael noonan, standard variable rates
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Something occurred to me recently, it’s that state controlled AIB have too many distribution channels. There is AIB branches, AIB direct and online, AIB for brokers, then EBS both broker owned and direct and finally a soon to be revamped sub-group called ‘Haven Homeloans’. No matter who you make an application to the actual underwriting of the loan (the criteria of whether you get it or not) will be identical.
Tuesday, January 10, 2012
We were pleased to feature on this story by Paul Colgan of RTE about banking and rates charged by different lenders. He also considered whether or not future ECB rate cuts would be passed on to borrowers.
Filed in Accountancy, Advisors.ie In the Press, Banking, Debt, Financial Advice, Mortgages, Wealth
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Also tagged aib, bank rates, financial news, karl deeter, michael dowling, mortgages, paul colgan, ptsb, rte news, variable rates
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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, financial advice, mortgage advice, mortgage help, mortgage hike, rate hike, ulster bank, ulsterbank, variable rates
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Can I release equity in my home under age 55? Question: Can you tell me if it’s possible to release equity in my home prior to reaching the age of 55? I own my home outright and have no family to pass it on to when I die. I bought my house last October but it needs a great deal of upgrading which I have very little prospect of being able to afford any time soon.
Filed in Accountancy, Advisors.ie In the Press, Debt, Financial Advice, Mortgages
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Also tagged age mortgage, how old can you mortgage, irish times, karl deeter, ltv, mortgage advice, mortgage questions, remortgage
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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.
Tuesday, February 8, 2011
“Fixed rates will be pulled from the market or priced so high that they will not be a realistic option. This will leave people at the mercy of their banks,” financial adviser Karl Deeter of Irish Mortgage Brokers told the Irish Independent.
Mr Deeter also predicted other lenders would now withdraw fixed rates as banks continue to lose money on mortgages because they signed up thousands of people on trackers which they are now losing money on.
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.
This is likely to lead to other institutions following suit, according to Karl Deeter, operations manager with Irish Mortgage Brokers. “In the past it has tended that one institutional move, and then all of the others follow within a short amount of time,” he said.
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, charlie weston independent, dublin accountants, financial advice, fixed rates, mortgage market trend outlook, mortgages
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