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22-01-2018, 16:27   #31
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Originally Posted by Colonel Claptrap View Post
Originally Posted by ted1 View Post
By other Euro zone countries It’s not a rock bottom rate , it’s the rate that all banks especially state owned ones should be offering
25-30 years fixed?
Yes. 1.9% for 20 years. In Spain
We are being screwed here.

1.85 for 20 years in France.
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22-01-2018, 16:37   #32
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Originally Posted by ted1 View Post
Yes. 1.9% for 20 years. In Spain
We are being screwed here.

1.85 for 20 years in France.
And I thought I got a good deal two weeks ago when I fixed my mortgage at 3% for five years.
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22-01-2018, 17:50   #33
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First-time buyers will be able to get government-backed mortgages

I presume most have heard of this news? Don't see a thread on it.

Looks like a good offer?

BUT: I see this part in the linked article:
"To qualify for the scheme, would-be buyers need to have had knock-backs or offers of insufficient funding from two different lenders."

So a person who has tried to borrow more than they were capable of repaying and got refused twice for a mortgage can avail of this but a person on the same salary who has been saving and not tried to buy a house they can't really afford cannot avail of this offer?

Am I reading this correctly?

Last edited by Jjjjjjjbarry; 22-01-2018 at 20:37.
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22-01-2018, 17:52   #34
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Jesus the more I think of this the more galling it is.

Only Labour left to vote for now lads.

This is going to get FG crucified imo it's an appallingly stupid and counterproductive move and a real kick in the teeth to anyone above these arbitrary limits who is paying current crazy rents without any assistance and trying to somehow scrape the money together to submit themselves through the cruel and unusual mortgage application process.

All for what, Tom Dick or Harry to cruise in and bang the bid up far beyond what we could hope to get backed by an inflationary scheme funded by the fúcking fat taxes we're still paying courtesy of the last fúcking shower to ride the arße out of an uncontrolled housing boom.

Might well be calling a govt TD over this, which is pathetic but Jesus I'm furious.
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22-01-2018, 17:53   #35
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I'm not sure how they are claiming it as new, co councils have been offering mortgages for years once you get two rejections form banks or building society's
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22-01-2018, 17:53   #36
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22-01-2018, 18:20   #37
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We need a taxpayers party. Those of us paying high rate tax are having our money taken from us, and given to other people so they can outbid us on housing. Why would you bother.
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22-01-2018, 18:21   #38
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Think we can now safely assume anything even remotely livable within 30 miles of Dublin will be at least 320 k.
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22-01-2018, 18:22   #39
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I actually can’t believe this bull****e
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22-01-2018, 18:36   #40
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Express your appreciation for this genius move , guys
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22-01-2018, 18:38   #41
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Originally Posted by Pelvis
I don't really understand this. If you're a couple and two banks has deemed you're not eligible to get a mortgage, then you can go to your local authority and get a potentially larger mortgage for a lower interest rate. While someone else in similar circumstances but who may have been more prudent financially, is rewarded with a lower mortgage by the bank at a higher interest.
There's nothing prudent about it. The scheme is for people on minimum wage that would never get a mortgage.

It's really only going to help people building their own home imo. Bringing more buyers into the market without increasing the housing stock isn't going to do anything but help push lower end prices higher.

Could be a great scheme if we had housing stock
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22-01-2018, 18:41   #42
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I'm confused a friend was in touch with DCC recently and they said the limit they will give is 200k to a single person.
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22-01-2018, 18:46   #43
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Originally Posted by TallGlass View Post
I'm confused a friend was in touch with DCC recently and they said the limit they will give is 200k to a single person.
This was only announced today
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22-01-2018, 19:03   #44
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Originally Posted by GingerLily View Post
This was only announced today
There always has been a co council mortgage scheme run along similar lines I think I’d only started looking at it all lately maybe confusion is being caused

I’m assuming these mortgages will also remain available
My local one can be found here
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22-01-2018, 19:09   #45
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Originally Posted by ted1 View Post
We are being screwed here.
On the contrary, we get excellent rates for unsecured lending

Paying your mortgage in Ireland is pretty much optional. Not only that if the bank tries to actually enforce security you'll have a queue of politicians showing up in court to support the people being turfed out of "da family home"
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