Irish Property Market chat II - *read mod note post #1 before posting*

   Leading mortgage lender hikes variable and fixed rates by up to 2 percentage points   

Appears others banks will hike soon..

Some of the rates are huge but likely triggered by the euro swap rates ballooning the past month.

80-90% LTV five year fixed is now 5.95% so that is them pricing themselves out of the new FTB market for a while. Lowest rate Finance Ireland have now (part owned by the ISIF by the way) is just under 4.5% for 15 year fixed for less than 50% LTV.

Anyone know if banks allow you keep a fixed rate if you look to trade up? Instincts say "no" so this could result in anyone with more than 5 year fixed mortgages not moving for some time so that might have some market dynamics down the line

I presume you're referring to interest rate risk but that doesn't make sense either. The 10 year yield is lower which means the interest rate curve is inverted - this is because the markets are pricing a recession and a drop in interest rates in the future.

of course there is, its either a mistake, tax planning between funds, or something else,

as you say there is no way anyone would pay more than double for something if there is no need to, but you'll get the usual places and people referring to it and claiming the country has gone mad,

its shocking joe.

There does seem to be an over focus on labour and material costs on this thread, however as with many things the real savings would come from eliminating the white collar grab that adds no value yet reaps so much of the price

The solutions are simple when you sit down and breakdown the process

We have an apartment and had a great tenant this time. The previous 2 were nightmares. The current tenant is leaving to go home to Poland in next month and over the last couple of months we were on the fence about whether to sell or not.

We thought there might be easing up of legislation or even tax breaks to help us with the very real risks of letting a property nowadays.

I think our decision has been made though. We are going tp put it on the market and just get rid. Out of our peers who numbered in the double digits who had property rented out, we are the 2nd last to sell up and get out. I think the writing has been on the wall for a long time now.

My 2c

Zero or negative rates are finished. Higher then normalised around the same rate of inflation plus lender markup

apparently 125000 electric ireland customers are in arrears .. and winter hasn't even properly started yet ..

if other energy companies have similar arrears it is a sign of where the economy is potentially heading

Rental market is anti tennant and anti private landlord. Reverse evolution

This comment made me laugh out load.

Market rises a little after being relentlessly down. Oh, rates are cutting and its all up from here.

Its called a sucker rally, there will be plenty and a much bigger ones. Markets have a much bigger drop to do.

Some consolation for hard pressed landlords during this trying time of record rents is that at least having been cruelly driven from the market, sale prices are near or have surpassed record levels depending on the area of the country.

I have been thinking about investing in a small house to rent out. What kind of tenants are the least hassle in terms of they will not suddenly decide to not pay rent and squat in the place for two years?

How much of a cut do agents take if they manage it all?

I think between credit suisse and the disaster that nearly happened in England has them worried. Whats the bets they'll keep lifting until something serious breaks then they'll bail it all out, lower rates to 0% and start QE again.

They are a one trick pony they say how they can avail of all these 'Tools', they have only one tool that's QE and lower rates.

Never in recent history would we have had QE and lowering of rates whilst high inflation rates - this would be my major fear if they do pivot.