Also this has nothing to do with them, the Central Bank is independent only intervening in the market when it’s absolutely necessary. It’s amazing how they try to spin this like a positive when it shows how bad they are failing.
No harm posting the details of this change – that’s fine
But to pretend it’s a gift from the Gods and not just going to encumber young people with larger mortgages is cuntish.
Finally I can get a new car and a two week holiday with the mortgage again..
FF: If you sell your kidney and rent your hole each weekend you can afford a new home
First time buyers being able to borrow at 4x is not going to cause a flat 15% increase lol
If there was an election tomorrow their policy would be 110% mortgages and back to borrowing restrictions only on a “case by case” basis, power hungry morons.
You can get 4x now. The banks love giving an exemption. They usually run out of their yearly exemptions by the end of January
Over inflated house prices, borrowing more than can be paid back. Does this not sound like 2008/2009 all over again. Wish they could get a fucking grip and see the same mistakes happening all over again
Meanwhile they still limit the absolute feck out of planning permission and continue to import immigrants to drive up demand. This is just a scam to ensure banks are able to get even more passive income from mortgage interest
This just prolongs when the inevitable crash hits and makes it so much worse than it would be.
“oh, well – OW! Did you see that!? Sinn Féin hit us!”
That Coles guy is a prick, but his point is correct.
We need green hats with M I G A on them
FF/FG aren’t doing this for the average Joe buying their first house, they’re doing it to prop up high prices for their developer/investor mates.
I thought the Central Bank is the one who made this move, and not the government?
This policy may tip the sector towards more flat rather than house construction
Wanting to borrow more wasn’t the problem
*Brilliant* Idea. Here in the states the sub prime mortgage crisis was the key player in the Great Recession.
So as a first time buyer you need to be earning 100k per year and have another 100k deposit? For a house across the road from north side shopping centre.
“Plunge yourself into crippling life-long debt with Fianna Fail!”
why stop at 4, why not make it 6 – let’s really show those developers some love!
Hmm this story seems familiar somehow….just can’t place it…
I was a 2006 first time buyer, nothing too extravagant a 350k apartment in dublin. After 2008 I ended up in neg equity and work situation meant I had to sell and do a deal with the banks. Ended up stuck in a rental situation ever since. I own no house and lost money, and now I’m no longer a first time buyer so every one of these measures they bring in fucks me further. I know I’m in the minority so won’t gain much traction but I wish the govt would recognise my situation and allow me to reapply as a FTB all over again, or I’ll never own my own place.
23 comments
Also this has nothing to do with them, the Central Bank is independent only intervening in the market when it’s absolutely necessary. It’s amazing how they try to spin this like a positive when it shows how bad they are failing.
No harm posting the details of this change – that’s fine
But to pretend it’s a gift from the Gods and not just going to encumber young people with larger mortgages is cuntish.
Finally I can get a new car and a two week holiday with the mortgage again..
FF: If you sell your kidney and rent your hole each weekend you can afford a new home
First time buyers being able to borrow at 4x is not going to cause a flat 15% increase lol
If there was an election tomorrow their policy would be 110% mortgages and back to borrowing restrictions only on a “case by case” basis, power hungry morons.
You can get 4x now. The banks love giving an exemption. They usually run out of their yearly exemptions by the end of January
Over inflated house prices, borrowing more than can be paid back. Does this not sound like 2008/2009 all over again. Wish they could get a fucking grip and see the same mistakes happening all over again
Meanwhile they still limit the absolute feck out of planning permission and continue to import immigrants to drive up demand. This is just a scam to ensure banks are able to get even more passive income from mortgage interest
This just prolongs when the inevitable crash hits and makes it so much worse than it would be.
“oh, well – OW! Did you see that!? Sinn Féin hit us!”
That Coles guy is a prick, but his point is correct.
We need green hats with M I G A on them
FF/FG aren’t doing this for the average Joe buying their first house, they’re doing it to prop up high prices for their developer/investor mates.
I thought the Central Bank is the one who made this move, and not the government?
This policy may tip the sector towards more flat rather than house construction
Wanting to borrow more wasn’t the problem
*Brilliant* Idea. Here in the states the sub prime mortgage crisis was the key player in the Great Recession.
So as a first time buyer you need to be earning 100k per year and have another 100k deposit? For a house across the road from north side shopping centre.
“Plunge yourself into crippling life-long debt with Fianna Fail!”
why stop at 4, why not make it 6 – let’s really show those developers some love!
Hmm this story seems familiar somehow….just can’t place it…
I was a 2006 first time buyer, nothing too extravagant a 350k apartment in dublin. After 2008 I ended up in neg equity and work situation meant I had to sell and do a deal with the banks. Ended up stuck in a rental situation ever since. I own no house and lost money, and now I’m no longer a first time buyer so every one of these measures they bring in fucks me further. I know I’m in the minority so won’t gain much traction but I wish the govt would recognise my situation and allow me to reapply as a FTB all over again, or I’ll never own my own place.