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Noonan to discuss rate cuts with banks

Finance Minister Michael Noonan has said he will discuss cutting variable mortgage rates with Ireland's top lenders in the coming weeks. Minister Noonan said that following his meeting with Central Bank Governor Patrick Honohan earlier this month, "analytical work" is being carried out on what…

General

Government considering plans to tax banks if they refuse to cut variable mortgage rates

Blog, General, Home, Mortgages & Money, Property News

The Government are considering plans to impose higher levies and taxes on banks if they refuse to cut variable mortgage rates, Tánaiste Joan Burton has warned. Health Minister Leo Varadkar also strongly hinted the Government will have to act if the banks do not move…

AIB rate cut could lead to other lenders following suit

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

Mortgage holders finally got some long overdue reprieve from lenders yesterday when AIB, EBS and Haven announced they were reducing their fixed and variable mortgage rates for new and existing customers. The announcement was something of a landmark as it was the first time that…

56 homes valued at over €5m for property tax

General, Home, Mortgages & Money, Property News

Fifty-six people valued their homes above €5 million for the purposes of the property tax last year, making them liable for an annual tax bill of at least €11,800 each. New figures provided to the Dáil Public Accounts Committee outline the most expensive homes in…

Dublin office rents to rise by 40%

Commercial Blog, Property News, The Investor, The Overseas Investor

Dublin office rents look set to climb to as high as €50 per sq ft, thats according to the latest report by Davy Stockbrokers on the commercial property sector, thats a potential increase of 40% on current rates. “There has effectively been no new commercial build since 2010,…

ECB leave interest rates unchanged

General, Home, Mortgages & Money, Property News

The European Central Bank left rates unchanged at their first meeting of the year yesterday with president Mario Draghi saying he expects interest rates to stay low for an extended period. The ECB’s governing council, convening in Frankfurt for the first policy-setting meeting of 2014,…

Permanent TSB to introduce new pricing model for mortgages

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

Permanent TSB is set to introduce a new pricing model for mortgages this week, which would mean lower rates for some new customers. However, those with deposits of 10% or less will pay more under the new system. The bank is understood to have briefed…

McGrath warns against raising mortgage rates to 5% or 6%

General, Home, Mortgages & Money, Property News

The prospect of standard variable mortgage rates for AIB customers rising to between 5% and 6% will send shivers down the spine of thousands of people, according to Fianna Fáil’s finance spokesperson Deputy Michael McGrath. The Cork-based TD was responding to comments made by AIB…

No information to be revealed about property tax before the Budget

General, Home, Mortgages & Money, Property News

No information will be revealed about the forthcoming property tax before December’s Budget, Minister for the Environment Phil Hogan has said. The tax on households is set to be implemented in the Budget but despite speculation over how it would be introduced, Minister Hogan is…

Local authorities will set their own property tax rates in future

General, Home, Mortgages & Money, Property News

Local authorities will in time be given powers to set their own property tax rates in order to generate funds to support provision of services in their areas, Minister for the Environment Phil Hogan has said. According to The Irish Times, the development, announced by…