Now might be a good time to fix, 5 or 10 year fixed at around 2.5% will benefit most people who don’t plan on moving
Country has been sold down the Swanee. Ah well. We are where we are. We all partied. Going forward. Genuinely.
Because buying a house wasn’t hard enough 😭
That’s what happens when you have people who refuse to pay their mortgage, live for free for 5 or 6 years and then have anti eviction crews causing riots when the bank comes looking for the property back.
Irish people think that not paying your bills is “sticking it to the man”.
Try acting the bollix on the continent with a mortgage and you will see why their rates are lower. Less risk for the banks of an asset sitting there with nothing coming off the balance.
Pleeeeaaaase can someone just set up a bank called “Repossesso” or something that promises you turf you out if you don’t pay your mortgage for two months.
It’s bad enough having to pay your own mortgage, never mind having to subsidise other people’s loans.
This is why banks won’t lend to people whose rent is the same as a mortgage, but who can’t get a deposit together. Or to be more accurate, why the central bank enforces this rule.
If your rent covers a mortgage, then all you’re proving is that you can afford to pay a mortgage now when, as the article says, mortgage rates are likely the cheapest they’ll ever be.
If you can afford to pay your rent and save for a deposit, you’re effectively proving to the banks that you can pay a mortgage now and you have some extra money in case rates go up. Even if the bank of mommy and daddy are paying your deposit, it still proves that you have someone who’ll help you out financially if interest rates go up.
Good. We need higher interest rates to reduce the price of housing.
Mugs game. Opt out
Good. I like playing Life on the “Insane” difficulty
No suggestion about how much it will increase by?
My variable rate is lower than any Fixed Rate I can find, so even if it increase by 0.5% I’m almost better off on a Variable.
My wife is on maternity leave at the moment so it’s very difficult for us to switch. She works on 6/12 month contracts and doesn’t have one at the moment. Fixed at 2.5% for the next 2.5 years or so, so just have to hope we can get a decent deal at the end of it.
Don’t worry FG Brian Hayes is in Europe doing everything he can us !
Yeah me bollox !!
I’m not sure interest rates will rise all that much. Economies are too fragile to be raising interest rates. Maybe a few quick rises and then a fall back. But definitely if you can lock for 2.75% or less, then jump in.
Can I claim against the local council for this price rate increase considering they’ve held up our planning for so long we’ve missed the boat with things that would have been a world cheaper just 6 months ago?
(I’m being facetious, but holy fuck is this frustrating, them being impotent lazy fucks has literally cost us thousands of euro and counting)
Is there any downside to fixing for a long term atm? We are about to switch and looks like we can go from 2.6% to 2%. With the price of everything going up atm should be get the longest term possible? Somebody mentioned there could be a penalty if we sell during the term 🤷♂️
15 comments
Now might be a good time to fix, 5 or 10 year fixed at around 2.5% will benefit most people who don’t plan on moving
Country has been sold down the Swanee. Ah well. We are where we are. We all partied. Going forward. Genuinely.
Because buying a house wasn’t hard enough 😭
That’s what happens when you have people who refuse to pay their mortgage, live for free for 5 or 6 years and then have anti eviction crews causing riots when the bank comes looking for the property back.
Irish people think that not paying your bills is “sticking it to the man”.
Try acting the bollix on the continent with a mortgage and you will see why their rates are lower. Less risk for the banks of an asset sitting there with nothing coming off the balance.
Pleeeeaaaase can someone just set up a bank called “Repossesso” or something that promises you turf you out if you don’t pay your mortgage for two months.
It’s bad enough having to pay your own mortgage, never mind having to subsidise other people’s loans.
This is why banks won’t lend to people whose rent is the same as a mortgage, but who can’t get a deposit together. Or to be more accurate, why the central bank enforces this rule.
If your rent covers a mortgage, then all you’re proving is that you can afford to pay a mortgage now when, as the article says, mortgage rates are likely the cheapest they’ll ever be.
If you can afford to pay your rent and save for a deposit, you’re effectively proving to the banks that you can pay a mortgage now and you have some extra money in case rates go up. Even if the bank of mommy and daddy are paying your deposit, it still proves that you have someone who’ll help you out financially if interest rates go up.
Good. We need higher interest rates to reduce the price of housing.
Mugs game. Opt out
Good. I like playing Life on the “Insane” difficulty
No suggestion about how much it will increase by?
My variable rate is lower than any Fixed Rate I can find, so even if it increase by 0.5% I’m almost better off on a Variable.
My wife is on maternity leave at the moment so it’s very difficult for us to switch. She works on 6/12 month contracts and doesn’t have one at the moment. Fixed at 2.5% for the next 2.5 years or so, so just have to hope we can get a decent deal at the end of it.
Don’t worry FG Brian Hayes is in Europe doing everything he can us !
Yeah me bollox !!
I’m not sure interest rates will rise all that much. Economies are too fragile to be raising interest rates. Maybe a few quick rises and then a fall back. But definitely if you can lock for 2.75% or less, then jump in.
Can I claim against the local council for this price rate increase considering they’ve held up our planning for so long we’ve missed the boat with things that would have been a world cheaper just 6 months ago?
(I’m being facetious, but holy fuck is this frustrating, them being impotent lazy fucks has literally cost us thousands of euro and counting)
Is there any downside to fixing for a long term atm? We are about to switch and looks like we can go from 2.6% to 2%. With the price of everything going up atm should be get the longest term possible? Somebody mentioned there could be a penalty if we sell during the term 🤷♂️