Hundreds of cases regarding repossession are pending after a court decision following an appeal by Tanager Designated Activity Company for being refused a repossession order for a home. In fact, a High Court judge has requested the Court of Appeal to decide certain legal issues that are “of considerable public importance”, following this case involving a claim for repossession of Rolf Kane’s family home in Clonsilla in Dublin.
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According to the Central Bank of Ireland, the majority of Irish homeowners could save between 1, 200 and 3, 600 euros a year by making mortgage switch. This was confirmed by MyMortgages.ie, one of the leading Mortgage Brokerages in Ireland.
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Banks are failing to abide by the personal insolvency legislation introduced in 2012 by the Irish government in a bid to help keep financially distressed families in their homes. The director of the Insolvency Service of Ireland (ISI) Lorcan O’Connor stated to the Oireachtas Justice Committee that most of the proposals presented by insolvency practitioners to lenders on behalf of distressed customers are being rejected.
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Haven, a subsidiary of AIB that gives out home loans through brokers has cut its mortgage rates, both fixed and variable. This news broke after AIB had made similar reductions, which has now resulted in a mortgage war. Several other banks are now expected to respond to this rate cut with cuts of their own.
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According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.
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According to the Economic and Social Research Institute (ESRI), Irish householders are likely to be affected by the increase in interest rate initiated by the European Central Bank (ECB). A leading government think tank believes that Ireland could be more at risk than any other member of the European Union. Fed chair Janet Yellen warns that this will have major repercussions for Irish homeowners, firms and Exchequer.
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