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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Fri Feb 16, 2018 2:25 pm 
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Too Big to Fail

Joined: Aug 8, 2008
Posts: 3561
Location: Cathair na dTreabh
Coles2 wrote:
Worth noting that Mick Wallace was the only landlord to vote against his own self interest.

He did have stuff in 2016: 2 rented houses in receivership
but none in 2017


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Fri Feb 16, 2018 2:47 pm 
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Property Magnate

Joined: Mar 30, 2016
Posts: 674
slasher wrote:
cyrusir wrote:
Coles2 wrote:
Worth noting that Mick Wallace was the only landlord to vote against his own self interest.


Is wallace still a landlord, surely his bankruptcy ended that?


:D

Maybe he still owns property in Italy. Oh, wait he sold that to his brother. All above board I'm sure.

The thieving knacker still has the cash to go to the World Cup while oweing a fortune to Revenue and his Creditors

http://www.dailymail.co.uk/news/article ... y-tax.html

Quote:

Irish deputy gave €500k winery to brother at same time he refused to pay €1.4m tax
By Michael O'farrell
02:17 GMT 17 Jun 2012,

Tax-dodging Mick Wallace is facing fresh questions over the way he transferred a €500,000 Italian villa and vineyard to his brother

Mr Wallace has acknowledged that he lied and deliberately committed tax fraud during 2008 and 2009

Mick Wallace faces fresh questions over the way he transferred a villa and vineyard to his brother
Mick Wallace faces fresh questions over the way he transferred a villa and vineyard to his brother
Tax-dodging Deputy Mick Wallace is facing fresh questions over the way he transferred a €500,000 Italian villa and vineyard to his brother – at the same time he was refusing to pay €1.4m to the Revenue.

The 2009 transfer was done in such a way that Mr Wallace is still able to use the property as his own, visiting whenever he wants, despite claiming to be effectively broke.

Mr Wallace says he gave the vineyard to his brother to settle a €550,000 debt for building supplies.

But the fact that he did so at the very time he admits defrauding the Revenue will raise questions as to whether the transfer was an attempt to ensure the taxman (or other creditors) could not get their hands on it and sell it to pay off some of his company’s huge debts.

This weekend, Mr Wallace’s brother, Joseph, who is now the owner of the Italian winery, declined to answer questions about the deal.

Among the questions facing the Wallace family are:

Why would Mick Wallace use a personal asset to pay a business debt? (Mr Wallace has insisted that he and his building firm are separate entities)

If money was owed to Joseph Wallace’s company, why did he take personal ownership of the vineyard? Should the vineyard have been handed over to the firm rather than Joseph?

What documents are there showing how the €550,000 debt was accrued?

Has the Revenue ever been in contact over the deal?

Deputy Wallace could not be contacted this weekend to answer questions about the deal


a case of unfair preference surely?


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Fri Feb 16, 2018 6:19 pm 
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Under CAB Investigation

Joined: Apr 9, 2014
Posts: 2108
Coles2 wrote:
Luan wrote:
Yes let’s stick to the facts - The whip system prevents TDs from voting with their conscience. Speculation of what way they would have voted without the whip is not a fact.
Well it's certainly an interesting point. I hadn't considered the possibility that FF/FG Tds wanted to vote against their parties to support the Right to Housing Bill 2017.

From your own experience as a landlord would you say many of the FF/FG landlords would have supported the Bill? Almost every landlord turned up to vote against the Bill.... :)

And I'm not sure what your obsession with SF is? They're just the second largest party in the opposition but it's like every single criticism of FG triggers you to attack them. I actually read about that cognitive behaviour issue recently but we'll save it for another thread. It's interesting stuff.

I thought you were going to stick to the facts rather than your agenda driven script :)


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Tue Apr 10, 2018 11:17 am 
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Of Systemic Importance
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Joined: Aug 20, 2009
Posts: 5182
Some 263 first-time buyers in Dublin apply for State mortgage scheme

https://www.irishtimes.com/business/fin ... -1.3455535

Quote:
Some 263 home buyers in Dublin have applied for the Government’s new home-loan scheme, looking to avoid Central Bank loan restrictions and lock in to low-cost interest rates.

The high rate of initial interest in the scheme, which is run on a countrywide basis, means that the €200 million budget, expected to cover about 1,000 loans, may run out before the year end.

Launched on February 1st, the Rebuilding Ireland Home Loan scheme allows first-time buyers to borrow up to 90 per cent of a property’s value from their local authority at interest rates of as low as 2-2.25 per cent, fixed for the term of the mortgage.


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Wed Oct 17, 2018 10:10 am 
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Of Systemic Importance
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Joined: Aug 20, 2009
Posts: 5182
Why the Government’s affordable loan scheme was flawed from the start

https://www.irishtimes.com/business/why ... -1.3665752


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Tue Nov 06, 2018 11:06 am 
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Joined: Aug 20, 2009
Posts: 5182
More than one in two applicants fail to secure affordable home loan in Dublin

https://www.irishtimes.com/business/per ... -1.3687127

Quote:
Just 60 affordable home loans have been drawn down right across Dublin city and county, new figures show, despite more than 1,000 applicants for the scheme which launched last February.


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 Post subject: Re: Govt's New Affordable Mortgage Scheme
PostPosted: Wed Nov 07, 2018 10:48 am 
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Single Home Owner

Joined: Oct 29, 2014
Posts: 109
TheJackal wrote:
More than one in two applicants fail to secure affordable home loan in Dublin

https://www.irishtimes.com/business/per ... -1.3687127

Quote:
Just 60 affordable home loans have been drawn down right across Dublin city and county, new figures show, despite more than 1,000 applicants for the scheme which launched last February.


Isnt this the sub prime lender scheme, you have had to be turned down by several banks to even qualify. That's going to end well.


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