Govt's New Affordable Mortgage Scheme


#61

You have to do a credit check with the councils too so that wont work for me.

Maybe I can ask to pay my deposit in dogecoin. Joking aside, I will be speaking to some people who work in banks at the weekend.


#62

the focus on people currently renting as eligible clients is somewhat misguided. If that was the target cohort they should have added a proviso that applicants have to show their current joint rental lease to avail of a mortgage. As an example, my sister still has her 31 y/o daughter living with her - she has a two year old child and her fiance also still lives at home with his mammy- they split their time between both houses and get free childcare - as a couple they meet the eligibility criteria of the scheme as announced. Their respective parents will be delighted to get rid of them - but there will be no rental property released back to the market.


#63

Yes that’s a good point. He also suggested emigrating.


#64

he made the point that some people worked abroad for a few years in a low tax environment and shock horror saved their own money to buy their own house.

youd prefer if they just stayed here and the state provided it gratis?


#65

Do you not think it is odd for our dear leader to tell folk to leave the country to gather funds? What does that say about our cost of living, housing costs, raising kids to emigrate etc. His job is to solve the above not tell folk to leave


#66

:smiley: :smiley:


#67

He shows his true colours. On a very serious note there is a big increase in Elder abuse going on while capital is so tied up in Property, and it’s liable to get worse. Old people maybe into their 80s or 90s are sitting ducks for this really and there are desperate cash hungry 30/40 maybe even 50 year olds who eye up the big house or savings pile, dripping with greed. The Government HSE is useless to tackle this by the way, as are the Gardai so it is amazingly common down the country. Maybe we would be better served if Leo’s public service was spent looking into the effectiveness of his Elder Abuse legislation and law enforcement to protect the old, rather than dole out smug lectures on how dysfunctional the housing market has become since we ‘changed’ government.


#68

he didnt tell people to leave the country, he just said thats what some people do

god forbid anyone would take responsibility for themselves


#69

Leo: I got me a 100% mortgage. My parents did not help me
"As it happens, I didn’t get any help with my deposit when I bought my home. I didn’t need it as I got a 40-year 100% mortgage from the bank. Of course, I was delighted at the time.
But it was bad policy, all that did was drive up house prices more and more and saddle young people with debt and negative equity."

“I am somebody that has a tracker mortgage and in many ways it has been a God-send.”


#70

I’m late to the party here, a bit like the Irish Government, …but I hear there’s below market rate mortgages going for above market risk applicants?? Tell me more…
:-GC

Surely to reduce the government’s exposure to these poorly thought out offers, they should open the offer to everyone - even those of us on market rate mortgages, who meet the usual bank acceptance criteria?
We all get lower mortgage rates, and the Government gets risk diversification.
AND the banks get a kick in the nads?

The only, albeit enormous, issue would be that at 2% rates, it’d probably drive the market prices higher!


#71

Leo, meet Bertie:

“Sitting on the sidelines, cribbing and moaning is a lost opportunity. I don’t know how people who engage in that don’t commit suicide because frankly the only thing that motivates me is being able to actively change something,” Mr Ahern said

Leo’s comments are just as stupid though not as repulsive. Reeling in the years stuff.


#72

thejournal.ie/leo-varadkar-1 … 6-Jan2018/

Didn’t get help from his parents - 40 year,100% mortgage 8DD


#73

Who paid the stamp duty if it was a 2d hand house? Just sayin…


#74

Don’t forget to queue for your cheap FTB mortgage, tomorrow, 1 February
rebuildingirelandhomeloan.ie/upl … 202018.pdf


#75

Register shows extensive property and outside interests of TDs

irishtimes.com/news/politic … -1.3392449


#76

Our public representatives.
We chose them. Our own fault.


#77

There are approx 76k private landlords in Ireland, excluding holiday homes.

Working population is what, 2.2m?

So that’s 3%.

So another statement might be something like “TDs more than 8x more likely to be landlords than ordinary working people”.


#78

That’s spurious.

Landlords are more likely to be wealthier and older than average. This is true the world over.

The median age in Ireland is 37. There are maybe ten TDs younger than 37.

The median TD (informed guess) is somewhat wealthier than the median voter too, although not by a huge amount, compared to the US for example.

No one has ever proved that TDs are more likely to be landlords than their demographic would suggest.

Several TDs are likely tenants as well.


#79

There is nothing spurious about what I posted. The stats may be off, produce better ones if you have them.

It is unarguable that TDs are more likely to be landlords than the people they represent, even if you exclude the non working population.

It is debatable whether that motivates their decisions.


#80

Well, let’s have a look at how the landlords voted in the Right to Housing Bill 2017.

hmmm… I think I see a pattern.