Markitron wrote: » How the **** can they call it newly built when it's 5 years old?
MacronvFrugals wrote: » March 5 construction deadline could be missed by a monthhttps://www.irishexaminer.com/news/politics/arid-40228661.html
Smouse156 wrote: » Should they just dissolve FFG now given they’ll likely be completely wiped out next election for their complete and utter failure yet again on housing?
thefridge2006 wrote: » It's a complete disgrace. I've voted FF all my life and I'm done with them. They are a shower of cowards who live in a fantasy world. They are unable to adapt away from boom time party developer politics and relate with the great unwashed. Good riddance
awec wrote: » Someone will correct me if I am wrong I am sure, and I may be thinking of another bank or something else entirely, but hasn't this Ulster Bank move been mooted for years now?
PropQueries wrote: » It’s most likely real this time. We’ll know Friday, but it looks like the Irish Times believes it’s now going ahead.
schmittel wrote: » You're spot on.
PropQueries wrote: » It’s most likely real this time. We’ll know Thursday, but it looks like the Irish Times believes it’s now going ahead.
awec wrote: » Yes I suspect that the past year has pushed them into making a decision, but I do think they had been struggling for a long time. It is bad news for mortgage holders / potential new mortage holders as it's even less competition for the big 2 of BOI and AIB.
PropQueries wrote: » Ok. A couple of days of good debate coming here I reckon According to to the Irish Times: “Ulster Bank set to exit Irish market after more than 160 years” “The board of NatWest is set to decide on Thursday evening on a proposal to wind down Ulster Bank in the Republic after more than 160 years in the market, setting the stage for a likely break-up of the lender’s €20.5 billion loan book, according to sources.” Link to Irish Times article here: https://www.irishtimes.com/business/financial-services/ulster-bank-set-to-exit-irish-market-after-more-than-160-years-1.4487912 Edit: Apologies. Another poster got ahead of me on the story
Timing belt wrote: » There is no surprise here. NatWest used 15bn to bail them out in ‘08 and have had a near zero return for the past 10 years.
cnocbui wrote: » Which the article hints is the fault of the Government.
PropQueries wrote: » If the so-called vulture funds do buy all the ulster bank loans (makes sense IMO), Ireland will most likely then just be a wholly owned subsidiary of these funds. A country in name only IMO
awec wrote: » I think Ulster Bank are only like 10-15% of the mortgage market. I think they're one of the smallest holdings of all the high-street banks.
PropQueries wrote: » Well, according to that RTÉ documentary back in 2017, they purchased c. €200 billion in Irish bank loans between 2012 and 2016. Throw in what they’ve additionally bought between 2016 and 2020 and now throw in Ulster Bank and they will now own us IMO
Cyrus wrote: » 850k for this ??https://www.myhome.ie/residential/brochure/12b-wayside-cottages-kilternan-dublin-18/4484282
PommieBast wrote: » Why is that car within a tent within the garage.. Price is a bit high but I don't think it is outrageous..
Timing belt wrote: » Don’t forget the billions of securitization. The truth is you don’t have a clue who owns all the Irish debt and in reality it doesn’t make much of a difference.
PropQueries wrote: » They will 100% control Ireland IMO
Timing belt wrote: » It has nothing to do with the government it’s a commercial decision where NatWest can sell ulster and use cash to develop online offering in the UK. The only way the government could be involved is if they bought ulster bank.
While Ulster Bank has convinced the Central Bank of Ireland to allow it return €3.5 billion of surplus capital to NatWest in recent years, it is still being made to hold equity capital reserves equivalent to about 28 per cent of risk-weighted assets. That’s double what most banks, including NatWest, are targeting over the long term. This has served to further suppress NatWest’s profit returns on the capital it has tied up in the Republic at a time when earnings are being squeezed amid low interest rates internationally and muted loan demand.
cnocbui wrote: » Ok,, but not the way I interpreted it:
PropQueries wrote: “Ulster Bank set to exit Irish market after more than 160 yearsâ€
PropQueries wrote: Ok. A couple of days of good debate coming here I reckon
Villa05 wrote: » Will this start a trend Banks are getting hammered by low interest rates plus revolut plus risky mortgage market
Link Group, which manages thousands of distressed mortgages for Cerberus Capital Management and other so-called vulture funds, has described Ireland as “the gift that keeps giving” and predicts that banks here could be forced to offload as many as eight more loan books over the next 18 months.
