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New Mortgage Rules

  • 28-01-2015 8:36am
    #1
    veryangryman
    Registered Users, Registered Users 2 Posts: 5,660 ✭✭✭


    This 220K ceiling on 10% will IMO get the following happening...

    1) Dublin housebuyers to move outside Pale (or to border of it anyway e.g Naas, Drogheda)
    2) Prices in these areas to rise close to 220K e.g A 150K house goes up to 170-180K reletively short-term as they know that the afforementioned Dubs who want a place now and had the 10% ready will now have to settle for somewhere further out.

    Thoughts?


Comments

  • #2
    TrishSimon
    Closed Accounts Posts: 206 ✭✭TrishSimon


    veryangryman wrote: »
    This 220K ceiling on 10% will IMO get the following happening...

    1) Dublin housebuyers to move outside Pale (or to border of it anyway e.g Naas, Drogheda)
    2) Prices in these areas to rise close to 220K e.g A 150K house goes up to 170-180K reletively short-term as they know that the afforementioned Dubs who want a place now and had the 10% ready will now have to settle for somewhere further out.

    Thoughts?

    Totally agree I am fuming, I have the 10% ready to go and am renting for € 1100.00 with my calculations it will be April 2017 before I can buy if I was to purchase a house for 220K to 230K.
    I bought a small apt in 2009 and I have a small mortgage the plan is to sell it as soon as the tenant doesn't want to live there anymore, we have been renting since July 2012 and trying to save too and just about had the 10% plus legal fees etc...now dont get me wrong I am not playing the poor mouth as someone told me I was my apt is worth about 110K at most and I dont make a profit from it we had our reasons for moving out of it and renting mostly due to the bar / restaurant at the time across from it and a crap quality of life because of the noise but we had hoped to purchase this year and were very hopeful but not now. I think the average Joe Soap is paying for the sins of the government and all the greedy bankers and sure look at Sean Quinn having to pay a mesly 20K !!
    This country is a kip I should have left years ago.


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