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News

In these times of uncertainty and bad news it may be appropriate for you to review your overall financial situation.
Ask yourself the following questions:

• What rate am I paying on my mortgage?
• How much have I got borrowed on my credit cards?
• Is my house adequately insured?
• How will I pay my mortgage and other bills if I am out of work?

If after asking these questions, you feel you could do with some advice - call Niall or David on 01 490 8190.

Home Choice Loan
Home Choice Loan is a mortgage provided through a number of local authorities for First Time Buyers.

The Mortgage Bureau are delighted to advise that we have been appointed as authorised brokers for Home Choice Loans.

Home Choice Loan will provide up to 92% of the market value of a property purchased. 

Maximum loan amount will be €285,000. 

Capital and interest bearing mortgage.

Maximum term 30 years.

Budget 2009

Budget 2009 does include some measures directly targeted at the mortgage market although they are unlikely to have any real effect in the current environment.  These measures include:

• First Time Buyers
  An increase in mortgage interest relief for first time buyers from 20% to 25% in years 1 and 2 of the mortgage, and to 22.5% in years 3,4 and 5.
  
  The net effect of this is an increase of some €42 per month per single person and €84 for a couple

• Non First Time Buyers
  The relief for non-first time buyers will be reduced from 20% to 15%;
  
  The net effect of this is a reduction in TRS relief from €50 pm to €37.50 per month for a single person and from €100 to €75 for a married couple.
  

• Levy Holiday Homes/Investment Properties
  The introduction of a local authority levy of €200 on all non-principal private residences, but this will not apply to new houses

• Local Authority Mortgages
  The extension of the local authority mortgage scheme by increasing the maximum loan available.

• Reduction in Stamp Duty on Commercial Property
  In relation to commercial property, the maximum stamp duty rate has been reduced from 9% to 6%.