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Number of new mortgages increase by more than 50% in Q4

General, Home, Mortgages & Money, Property News, The First Time Buyer

The IBF/PwC Mortgage Market Profile published today shows that 6,043 new mortgages to the value of almost €1 billion were issued during the fourth quarter of 2012. This represents an increase of over 51% on the previous quarter and an increase of over 56% on…

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AIB easing terms for struggling mortgage customers

General, Home, Mortgages & Money, Property News

The head of AIB has said the State-owned bank is easing terms on 2,000 mortgages a month, in a bid to clean up its troubled loan book and encourage new investors by next year. David Duffy has told Bloomberg that AIB has stepped up mortgage…

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Household financial distress at "unprecedented levels", insist Honohan

General, Home, Mortgages & Money, Property News

Household financial distress is now at "unprecedented levels', according to the Central Bank's Patrick Honohan. Speaking at the bank's conference on distressed property, Professor Honohan said they are "ramping up" its engagement with banks in recognition of the fact that, until recently, they seemed to…

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Irish banks urged to set aside more money to cover bad loans

Mortgages & Money

Credit ratings agency Moody’s have warned that Irish banks will need to set aside much more money to cover potentially bad loans. The same warning was issued to lenders in Spain, Italy and Britain. In their global banking outlook for 2013, released today, Moody’s said:…

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Permanent TSB to re-enter mortgage market as part of increased lending initiative

Commercial Blog, General, Home, Industry News, Mortgages & Money, Property News, The First Time Buyer, The Investor, The Seller

Permanent TSB has announced plans to boost its consumer lending to €450 million this year – a five fold increase on 2012. In a statement, the bank said it had €350m available for new mortgages, €100m for car and other personal loans and €5m for…

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Certus favourites to awarded PTSB commercial loan book contract

Commercial Blog, Property News

Banking services firm Certus are the favourites to be awarded the contract to manage Permanent TSB’s €2 billion commercial loan book. The bank began inviting tenders for the contract last week. According to The Irish Times, the loan book comprises borrowings linked to office, retail…

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EBS and AIB launch new negative equity trade up mortgages

General, Home, Industry News, Mortgages & Money, Property News, The Seller

EBS and AIB have announced details of a negative equity trade-up mortgage for customers who want to move to a property of greater value but whose homes are worth less than they paid for them. Conor Pope reports in today’s Irish Times that the Negative…

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Permanent TSB chief warns about mortgage debt relief

Mortgages & Money, Property News

Permanent TSB chief executive Jeremy Masding said Irish banks would need more capital should they become overly lax on mortgage debt forgiveness and variable-loan interest rates fall below those assumed in stress tests. Exceptional or unusual rules in relation to debt forgiveness "would have a…

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Numbers renting increases by 47% in five year period

General, Home, Industry News, Mortgages & Money, Property News, The First Time Buyer, The Renter, The Seller

The number of households renting their accommodation increased by 47% between 2006 and April 2011, new figures from the CSO have revealed. The figures, based on the Census 2011 results, show that 474,788 people were renting as of April 2011, up significantly on the 2006…

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Two thirds of people now saving for holidays

General, Home, Mortgages & Money

Two thirds of people in a new survey from KBC Bank say they are now saving for holidays rather than borrowing for them or putting it on their credit cards. The latest KBC Savings Barometer revealed that out of 500 people surveyed, 50% of Irish…

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