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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 10, 2013 7:17 pm 
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Planning Tribunal Attendee

Joined: Nov 8, 2006
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Location: D4 hob-nob..ex Dublin NW sub-district Gurraland
RTE wrote:
The new mortgages are expected to be equivalent to the existing ones, which were for properties costing an average of €260,000.


Now the market in D13 has up to 90 new buyers with 200k(perhaps?) mortgages who can afford houses(as opposed to yrs ago) at present market prices. Fair?


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 10, 2013 10:10 pm 
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Joined: Sep 20, 2013
Posts: 10
gurramok wrote:
RTE wrote:
The new mortgages are expected to be equivalent to the existing ones, which were for properties costing an average of €260,000.


Now the market in D13 has up to 90 new buyers with 200k(perhaps?) mortgages who can afford houses(as opposed to yrs ago) at present market prices. Fair?

No.

Another possible discrepancy is between the treatment of owner occupiers and BTL owners there. Look at the hypothetical difference between the financial situation now of two different people who bought apartments there. Person A bought the apartment and lived in it. Person B decided to rent it for a few years first, while working elsewhere / living with parents / serving out a 5 year contract overseas or whatever. Now, am I reading reports in the media correctly that person A gets bailed out while person B does not?


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 10, 2013 10:36 pm 
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Under CAB Investigation

Joined: Jun 24, 2010
Posts: 2043
Location: Dublin 12
resaan wrote:
gurramok wrote:
RTE wrote:
The new mortgages are expected to be equivalent to the existing ones, which were for properties costing an average of €260,000.


Now the market in D13 has up to 90 new buyers with 200k(perhaps?) mortgages who can afford houses(as opposed to yrs ago) at present market prices. Fair?

No.

Another possible discrepancy is between the treatment of owner occupiers and BTL owners there. Look at the hypothetical difference between the financial situation now of two different people who bought apartments there. Person A bought the apartment and lived in it. Person B decided to rent it for a few years first, while working elsewhere / living with parents / serving out a 5 year contract overseas or whatever. Now, am I reading reports in the media correctly that person A gets bailed out while person B does not?

I doubt if many 'Borrow to Let' buyers ever intended.to live there now!
Speculation has its risks as well as its rewards!


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 10, 2013 10:57 pm 
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Joined: Sep 20, 2013
Posts: 10
Tis Meself wrote:
I doubt if many 'Borrow to Let' buyers ever intended.to live there now!

Nevertheless some people do buy and have bought property and for whatever reason may have decided to rent it out for a few years before possibly living there themselves. They may have thought they were saving more and being more financially prudent than someone who moved in straight away. I am being devils advocate and pointing out that such a person is now stuck with the apartment and debt there, while their neighbour in the same block is not. Fair?

Tis Meself wrote:
Speculation has its risks as well as its rewards!

Correct, putting money in to bricks and mortar in Ireland was / is extremely speculative, and people should not speculate. Look what happens when they did.


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Thu Oct 10, 2013 11:33 pm 
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Too Big to Fail
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Posts: 4772
Location: location location
I don't think it's fair that they are treating btl differently, also there were two cash buyers (yes, you heard right) do they get nothing?

And if you paid 20% deposit what's the story? A new 100% mortgage where you used to have 20%.....i know it's slightly moot with ne but I'm not sure it's entirely fair. The transport the mortgage proposal was much more sensible.

Basically the solution should result in the owners ending up in homes with the same financial situation they faced prior to the shitstorm......as if priory hall never existed. Remove the owners from the picture and then start the recriminations

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Nov 10, 2013 6:12 pm 
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Joined: Jan 4, 2013
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McFeely pays 24k to settle debt and avoid court. Origin of money a mystery.

http://www.independent.ie/irish-news/co ... 41085.html

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sun Nov 10, 2013 9:58 pm 
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Too Big to Fail
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Joined: Mar 7, 2012
Posts: 3366
Location: Lovely Leitrim
Mantissa wrote:
McFeely pays 24k to settle debt and avoid court. Origin of money a mystery.

http://www.independent.ie/irish-news/co ... 41085.html


He must have more than 1 bathtub.

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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Mon Nov 11, 2013 6:55 pm 
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Of Systemic Importance

Joined: Aug 4, 2007
Posts: 5294
Location: Ahernistan
NegativeEquity wrote:
Mantissa wrote:
McFeely pays 24k to settle debt and avoid court. Origin of money a mystery.

http://www.independent.ie/irish-news/co ... 41085.html


He must have more than 1 bathtub.


Dig out ?

Won it on the ponies ?

All well established & plausible sources of income :x :x :x

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"Mr Kelly said Ireland’s “reputational capital” had been damaged by “chancers” such as ex-Anglo Irish Bank chairman Seán FitzPatrick, who had been abetted by “buffoons” such as former financial regulator Patrick Neary, Minister for Finance Brian Lenihan and the Taoiseach." - Irish Times 13th Jan 2009

"If you can't be a good example, then you'll just have to be a horrible warning." (Catherine Aird)


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 Post subject: Tues 25 Feb 2235 BBC1
PostPosted: Mon Feb 24, 2014 1:14 pm 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3646
Location: Cathair na dTreabh


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 Post subject: Re: Receiver appointed to Priory Hall development in Dublin
PostPosted: Sat Mar 28, 2015 12:12 pm 
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Real Estate Developer

Joined: Feb 17, 2013
Posts: 874
Queue now to be top of the line in November, for your chance to own a piece of Dublin housing history:

http://businessetc.thejournal.ie/priory ... 8-Mar2015/


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