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The Help to Buy Incentive

The Help to Buy (HTB) Incentive

The Help to Buy (HTB) incentive is a scheme introduced in 2014 aimed at assisting first time buyers in getting a foothold on the property ladder and helping them to navigate the newer and stricter mortgage rules for prospective homeowners. The scheme is intended to help first time buyers with the deposit needed to build or purchase a new home. The scheme will give you a refund of the Income Tax and DIRT paid over the previous four years which is then used as the partial or full deposit.

 

The scheme has undoubtedly already helped many first-time buyers purchase their homes, but it has also come under fire in recent months as it has been suggested that the scheme has driven up house prices, thereby excluding more prospective buyers from the market. It has also been suggested that the scheme has aided many who were not in fact relying on it, and who already have the means to purchase their home.

 

This scheme was not only extended to the end of 2021 but enhanced in the July Stimulus plan and now allows for first time buyers to claim back the lower of either 10% of a property’s value or €30,000. For homes purchased after January 1st, 2017, the refund will be paid directly to the contractor.

 

Applications for the scheme must be made online via the myAccount or Revenue Online services.

 

We advise checking the Revenue website for information on contractors and developers taking part in the scheme as a first port of call. Should you have any queries please don’t hesitate to contact us.

Banking supports

Micro Finance Ireland

If your business is impacted or may be impacted by COVID-19 resulting in a reduction of 15% or more in actual or projected turnover or profit, AND you are having difficulty in accessing  finance from commercial lending providers, the MFI COVID-19 Business Loan may be able to help your business.

In addition, Local Enterprise Offices in every county provide a range of business supports for micro- enterprises including business continuity and preparedness advisory supports connected to the  COVID-19 outbreak. Contact your Local Enterprise Office for more information.

Eligibility

  • Any business (Sole Trader, Partnership or Limited Company) with less than 10 employees and annual turnover of up to €2m
  • Not in a position to avail of finance from Banks and other commercial lending providers
  • 15% of actual or projected turnover or profit is negatively impacted by COVID-19

Product Features

  • Loans from €5,000 – €50,000
  • Supports businesses who have been impacted negatively by coronavirus in Ireland
  • Loan terms typically up to 3 years
  • Up to 6 months Interest only payments
  • No fees/no hidden costs/charges
  • Fixed repayments/no penalty for early repayment

Application process

Application documentation can be found at this web addresshttps://microfinanceireland.ie/loan-packages/covid19/

  • Complete application form
  • Prepare monthly cash flow forecast for 12 months
  • Complete Micro Finance Ireland Business Plan
  • Submit six months bank statements and in the case of a Limited company six months bank statements for Directors and Shareholders holding 25% or more of the issued share capital of the company.
  • For Limited company applicants only – A central Credit Register report for each Director and for any Shareholders holding 25% or more of the issued share capital of the company.

Strategic Banking Corporation of Ireland

The Department of Business, Enterprise and Innovation announced a number of supports for businesses facing challenges being presented by the current Covid-19 situation. The Credit Guarantee Scheme is in place and available now to SMEs subject to the relevant terms and conditions. Separately the SBCI is currently working to finalise the terms and conditions of the SBCI COVID19 Working Capital Scheme and the eligibility application process for this. The SBCI website will be updated as soon as these are finalised. In the interim if you wish to be kept informed on developments please email the SBCI at info@sbci.gov.ie

SME Credit Guarantee Scheme (CGS) 

The Scheme aims to assist viable SMEs, which under normal lending criteria are unable to borrow from their bank, in accessing credit. The scheme operates by providing an 80% guarantee to participating finance providers (currently AIB, Bank of Ireland and Ulster Bank) on qualifying loans to SMEs.

The Scheme is operated on behalf of the Department of Business, Enterprise and Innovation (D/BEI) by the Strategic Banking Corporation of Ireland (SBCI) and is available from the participating banks (AIB, Bank of Ireland and Ulster Bank). If you are an SME,  you can approach any one of the participating banks and apply for a loan facility under CGS.

Key Features of the Scheme:

  • Facilities of €10,000 up to €1m
  • Terms of up to 7 years
  • Term Loans, Demand Loans and Performance Bonds

 

Who is eligible for the Scheme? 

SMEs may be eligible if they:

  • Are involved in a commercial activity
  • Are a sole trader, partnership, franchise, co-operative or limited company
  • In the lender’s opinion have a viable business proposal
  • Are able to repay the facility

 

How to apply do for the scheme

The scheme is available through participating lenders AIB, Bank of Ireland and Ulster Bank at the web addresses below:

AIB : https://business.aib.ie/products/finance-and-loans/credit-guarantee-scheme

BOI : https://businessbanking.bankofireland.com/credit/credit-guarantee-scheme/

Ulster Bank : https://digital.ulsterbank.ie/business/loans-and-finance/alternative-financing.html

 

Allied Irish Bank (AIB)

AIB’s Covid 19 supports are available at this web address – https://aib.ie/covid19

The financial supports include the following

Cashflow products available to customers and web address for applications

Business Credit Linehttps://business.aib.ie/products/finance-and-loans/business-credit-line?_ga=2.155766331.160936585.1584353997-1581556376.1584353997

Farmer Credit Linehttps://business.aib.ie/products/finance-and-loans/business-credit-line?_ga=2.155766331.160936585.1584353997-1581556376.1584353997

Promptpay – https://business.aib.ie/products/finance-and-loans/promptpay-and-insurance-premium-finance?_ga=2.146517556.160936585.1584353997-1581556376.1584353997

Business loans of between €2,000 and €60,000 can be applied for on line at this web address : https://business.aib.ie/products/finance-and-loans/business-loans?_ga=2.185208617.160936585.1584353997-1581556376.1584353997

Customer in Difficulty (Forbearance Requests)

AIB have a number of possible solutions available depending on your circumstances

  • Capital Moratorium
  • Capital and Interest Moratorium
  • Covenant Waivers

AIB Advisors are available in branch or on the phone 1890 478 833

 

Bank of Ireland

The supports offered by Bank of Ireland are as follows:

  • Emergency working capital, prioritising loan decisions for impacted customers, payment flexibility on loan facilities, and the provision of trade finance and foreign currency products to support sourcing products from new suppliers internationally.
  • Customers who are concerned about the impact of COVID-19 on their business are encouraged to make contact with their Business Relationship Manager or ring 0818 200 348.
  • Bank of Ireland sectoral experts – in agriculture, manufacturing, hospitality, health, food and beverage, and retail convenience – are also available to support customers.

A full listing of supports from BOI are at this web address: https://businessbanking.bankofireland.com/covid-19/supports-for-businesses/

 

Ulster Bank

Ulster Bank have introduced a financial assessment that is designed to evaluate your financial situation and to offer support where you need it most.

Specially trained staff will carry out a financial review. They will review your current financial situation and take you through the repayment options available. These options include:

  • Extending loan terms
  • Temporarily moving to interest only payments
  • Reduced payments on a temporary basis
  • Postponement of monthly repayments for a defined period of time

A full listing of supports from Ulster Bank are at this web address: https://digital.ulsterbank.ie/personal/help-and-support/struggling-financially.html

 

Revenue Irish Tax Firm

Revenue Announce Measures during Covid 19 Outbreak

In recent days, the news around the spread of Covid-19 has become inescapable and naturally worrying for individuals, families and business owners. Here at EcovisDCA we have and will always be committed to providing SME and larger business owners with practical and useful advice to help their businesses survive and thrive, and we intend to continue that trend during this period of adversity and whatever aftermath lies ahead.

In the brief few minutes of the recent announcement by Taoiseach Leo Varadkar regarding the Covid 19 pandemic, it seems that Irish life and business life would be instantly changed. As all schools, childcare facilities and tourism sites would be closed for a period of at least 2 weeks, workers worried about their capacity to continue working. Following on from that, new social distancing recommendations suggesting that workers should work from home where possible and limit direct social contact in the form of group lunches and face-to-face meetings instantly changed how businesses would function in Ireland. Obviously, this is uncharted territory and something that wasn’t planned for in anyone’s business plan for 2020 so it is natural that the business landscape and our economy will suffer to some extent as a result. We here at EcovisDCA will be updating on any and all information pertaining to business life and any news that may light up the uncertain darkness we find ourselves in.

  • Due to the new recommendations and the concerns that workers had for their working capacity going forward, the Government and Revenue have announced updated advice to support workers and SMEs who may experience cashflow issues.
  • All debt enforcement activity is suspending until further notice.
  • The Relevant Contract Tax review due to take place this month is suspended until further notice.
  • A customs ‘green routing’ status will be given to critical pharmaceutical products and medicines.
  • Tax returns should continue to be sent on time.
  • Extended availability of Government subsidised or Government guaranteed loan finance will be offered to businesses affected by Covid 19.
  • Extended grant availability through Enterprise Ireland, Udaras na Gaeltachta and local Enterprise Offices specifically allocated for businesses affected by Covid 19.

Meanwhile, Bank of Ireland and Ulster Bank have also become the first banks to assure their customers that practices like deferrals will be put in place for mortgage holders who may find themselves unable to keep on top of their payments during this time.

For social welfare support for self-employed please click on the links to get the latest information from Revenue:

https://www.revenue.ie/en/corporate/press-office/press-releases/2020/pr-130320-revenue-announce-measures-to-assist-smes-experiencing-cashflow-difficulties-arising-from-covid-19.aspx

https://www.revenue.ie/en/corporate/press-office/press-releases/2020/pr-100320-engage-early-with-revenue-key-advice-to-businesses-experiencing-tax-payment-problems.aspx

Should you find that your business is beginning to struggle during this time, it is advisable that you contact Revenue directly to discuss your own specific case.

The Help To Buy Scheme for First Time Home Buyers

A Helping Hand onto an Elusive Ladder

We have spoken at length in the past about the multitudinous issues facing prospective first time home buyers in our current climate in Ireland. From saving deposits amidst paying skyrocketing rents, to being effectively written out of the narrative due to stricter borrowing rules and increasing home prices across the country. As a result it was recently reported that owning their own home has become more of a distant dream for many, rather than a feasible option for the future, with many saying that it would take them many years to save a deposit and even then they may not be able to afford the costs on current salaries. Rather than sticking with the unpopular opinions of recent months, of giving up avocado toast and living on your parents couch while asking for a loan of €30,000 we decided that today we would take a look at the more positive side of being a first time or prospective first time buyer. Believe it or not there are some options available to you out there, and we hope that access to these may make your dream more of a reality.

We all know about the all-important 10% deposit required to get your foot onto the first rung of the property ladder, as well as the additional funds required on top of these for legal costs etc. As mortgage relief is no longer an option, this all adds up quickly and when paired with every increasing house prices which don’t seem inclined to start falling any time soon, can lead to a number of hopeful buyers who simply cannot afford the costs. Whilst seeking a loan from a local authority may be an option for some, there is still the matter of a deposit to be raised and countless costs to be taken into account. The recent installation of the Help to Buy (HTB) Initiative may be a saving grace for some buyers, and has already helped many families find their new homes.

Essentially, the Help to Buy (HTB) scheme is an income tax rebate scheme now in place in order to help first time buyers buy new or self builds, and does not apply to second hand dwellings. This scheme allows buyers a rebate of their income tax paid over the previous 4 years as well as a refund of DIRT and will run until the end of 2019.

Naturally there are a number of stipulations on this as follows:

  • You must take out a mortgage of at least 70% of the cost of the property.
  • Applies only to properties costing €500,000 or less.
  • Applies only to new builds.
  • You must occupy the property for 5 years or more from the date it is habitable.
  • You must be fully tax compliant for the 4 years prior to your claim, complete a tax return form (Form 12) and pay any outstanding taxes that may be owed.
  • PAYE employees can apply using Revenue’s My Account system whilst self-assessed employees will apply through Revenue’s online system (ROS).

Should you have any queries or require further information on this or any other business or financial matter please don’t hesitate to contact us here at EcovisDCA’s new head office, where as always we will be delighted to help.

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

Should You Fix Your Mortgage Rate?

Keeping that Roof above Water

We have spoken recently about the struggles facing prospective homeowners and their long term range of effects on the market at large. Something we haven’t touched upon thus far is the struggles facing those who already have a foothold on the property ladder, existing homeowners currently holding a mortgage. Whilst this may seem like the ideal status for those struggling to buy their first home, there are of course issues which apply here that may not be considered.

It has been reported recently that homeowners could see a marked increase on their mortgage bills in years to come. This is due to the fact that European interest rates are set to begin to rise from 2019 to 2020 as the European Central Bank is expected to increase its main refinancing rate. Depending on the rate of mortgage and the loan size, this could see mortgage payments possibly increase by a couple of hundred euro.

These European interest rates have been at a stable low for many years, with many homeowners likely to not have experienced excessive rises in their time. In the atmosphere of uncertainty as we wait for the confirmation of these changing rates, what action can be taken either on new or old mortgages to limit the amount of damage to your pocket?

Fix it Up:       

A fixed rate mortgage can often seem like the most expensive option on the surface when choosing your mortgage, but can be quite the saving grace at times like these when rates are in flux as this option fixes your mortgage rate at one price for a certain period of time.

Whether choosing your mortgage or switching, a fixed rate might be the perfect option during these uncertain times and may offer you a slight buffer.

Pay, Pay, Pay:

Although it can be tempting when funds are low to take out further loans to replenish emptying pockets, this is likely to be damaging in the long run as your repayments begin to stack up. Instead of this, it is advisable to keep your mortgage payments up to date, and even overpay whenever possible in order to reduce your overall term.

In addition to this, clearing off any other debts you may have from loans or credit cards is advisable as the goal is to reduce your monthly repayments to as few as possible, with your mortgage being the ultimate priority. This will avoid you paying higher interest rates on other loans as well as your mortgage.

Should you be in a position of struggle when these rises come into play, be sure to discuss with your provider and solicitor options for restructuring your mortgage in order to avoid any long term issues.

Should you have any queries or require further information on this or any other business or financial matter please don’t hesitate to contact us here at EcovisDCA’s new head office, where as always we will be delighted to help.

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

The Affordable Mortgage Scheme

The First Time Ever you saw your Own Home

We have spoken many times in the past about the ongoing increase in house prices and the ways that these rises combined with stricter mortgage rules have begun to effectively squeeze many first time buyers out of the market. Similarly, the rapid increase of rental costs has dampened many prospective buyers hopes as these costs make it increasingly difficult to get a deposit together. In recent years it has become very difficult to be a hopeful first time buyer, but it seems that there might be a blink of hope on the horizon for prospective buyers on lower incomes.

It was announced this week that the Government has set aside €200m to fund a new scheme entitled the Affordable Mortgage Scheme to offer relief to first time buyers on lower incomes. The scheme will see local councils offer mortgages at lower interest rates than the majority of lending banks and crucially, will be fixed for the duration of the loan. This is said to save buyers up to €10,000 over the duration of their mortgage. The scheme is set for a relatively immediate start, with a start date of February 1st and is sure to offer some hope for lower income buyers.

Interestingly, the scheme’s loan can be used for second –hand as well as new properties, and to build your own home. This is a departure from all other recent schemes which were available only to new homes, and did not apply to building your own home. Previously, there was a local authority mortgage scheme in place for those who had been previously turned down, but this was offered at a variable interest rate and did not offer the long term savings that the Affordable Mortgage Scheme promises.

Under this scheme first time buyers will have access to loans of up to €288,000 at a fixed interest rate of 2.25% for 30 years. This offers first time buyers the security of knowing their repayments for the duration of their mortgage. Minister for Housing Eoghan Murphy has said of the scheme:

“What this means essentially is that a person or couple can purchase a home, while ensuring that they can still keep their monthly repayments to one-third of their net disposable income – with no risk of their mortgage rate rising and so no threat to their ability to afford repayments, giving them certainty and security.”

The loan will be subject to the same lending rules as the banks, in that buyers will require a 10% deposit on the property. Buyers will need to have evidence of being turned down by two lenders and there is also an income cap of €50,000 per year for single buyers and €75,000 per year for joint buyers. There will also be a limit on the overall price of the home as in the Greater Dublin, Cork and Galway areas the maximum market value of the property cannot exceed €320,000 whilst elsewhere in the country this limit will be €250,000.

Should you require any guidance on any financial or business matters, please do not hesitate to contact us here at EcovisDCA, where we will be happy to assist.

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

Granting your Switch Wish

It is obvious that the changing mortgage rules have made it more difficult for first time buyers to enter the property market in recent years. Despite recent changes allowing for a decrease in the necessary deposit required (abolishing the 225,000 cap on a 10% deposit) the continuing rise in house prices has all but ruled many first time buyers out of the market for the foreseeable future. An issue which affects many but has seen much less column inches is the issue of switching your mortgage to another bank. This is something which has been increasingly difficult to accomplish in recent years with the ever changing financial market, but there may be a distant light at the end of the tunnel for those wishing to switch their mortgage in the future to reduce their repayments.

The Central Bank has recently stated that it will be considering imposing new rules which will make it easier for people to switch their mortgage to another lender. This exciting development follows recent research by Behaviour and Attitudes which found that only 4% of mortgage holders had switched to a new lender. Switching your mortgage to another lender can often result in a reduction in your repayments and other benefits as your needs grow and change in your home.

The proposal by the Central Bank would ensure that banks must offer greater clarity to their borrowers to ensure that they have all the information available regarding switching, something which is sorely lacking in the current market. There is also a suggestion that the banks will be required to ensure that borrowers have all the information regarding switching mortgage product and the associated costs of this.

The fact that so many of those surveyed had never even considered changing their mortgage is surprising given that Ireland’s variable mortgage rates have been found to be among the highest in the Eurozone. Lenders do not currently offer enough accessible information about these issues and as such it is not something at the forefront of buyer minds. Acting Deputy Governor Bernard Sheridan has been quoted as saying:

“It is clear that lenders could be doing more to facilitate consumers who are thinking about switching.”

The Central Bank suggests these new changes will be beneficial as over 109,000 people could save money by switching mortgages and will reportedly publish a paper later in the year in which these proposals will be set out.

Should you require any help, guidance or advice on these or any other business and financial matters please don’t hesitate to contact us here at Ecovis DCA where our dedicated advisors will be delighted to be of assistance.

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

Taking the Fear out of Arrears

Following on from the economic crisis and the subsequent increase in the cost of living and decrease in available work, many thousands of Irish people have been left in mortgage arrears which is a very stressful and uncertain position to be in. As the country begins to regain its financial footing there are of course increases in finance options, but up until this point many Irish householders may have found it quite difficult to avail of advice on these matters during what is of course a difficult financial time.

Recently, Tánaiste Frances Fitzgerald and Minister for Social Protection Leo Varadkar announced an awareness campaign to promote Abhaile, a free mortgage arrears support service which many of those struggling were unaware of.

This news follows a survey which found that many struggling with mortgage arrears are too embarrassed to tell their family and friends about their ongoing issues. This in itself is incredibly problematic as the weight of these issues alone can cause isolation, depression and other mental health difficulties. As such, it is essential that all homeowners who find themselves in arrears should have someone to speak to. That is the service that Abhaile hope to provide. Tánaiste Fitzgerald has stated that despite falling numbers, there are still approximately 34,500 people in this country in long-term arrears. These are the people they hope to reach with this new campaign as it also emerged that over two thirds of people did not know that there were any services available to them to discuss these issues. Minister Varadkar was quoted as saying:

“It’s our firm hope we’ll bring forward thousands more people who are now in need of similar help. The key message is to come forward and seek the help that you need. Don’t be afraid, help is available at no cost and we’re on your side.”

Whilst the fact that the number of repossession cases has halved in recent years is indeed positive news, it is also essential that those still struggling be aware of all of the assistance at their disposal to ensure that these rates continue to fall in the coming years so that we can see a significant reduction in people feeling alone in these issues. It was also revealed that those in long-term arrears are those least likely to seek advice or assistance as they may feel that their situation is hopeless.

Angela Black of the Citizens Information Board has said:

“What we’re doing is asking members of the public to go out there and take a look around at their family and friends and people who might look ok on the surface but who are struggling behind closed doors with mortgage arrears. They might not realise they have access to this free expert financial and legal advice. Family and friends can play a vital role in encouraging people to look for help”

The Abhaile service has assisted 4,500 people since it became fully operational last October.

The Abhaile scheme is administered by the Money Advice and Budgeting Service (MABS).

Its helpline, which is open Monday to Friday 9am to 8pm is 0761072000.

 

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

ICS YOU CAN

Something which we consistently come back to as a topic of interest for our customers are mortgage lending rules and the tiresome process of trying to get a foothold on the property ladder, which let’s face it, these days can often feel like playing a very difficult video game. You’re pressing all the right buttons, but somehow still find yourself placed back at the previous checkpoint. Recently, with minor changes made to the rules for first time buyers it seems that the clouds are clearing somewhat to allow an easier path to your first home. Further good news continues to come in for prospective new home owners in the form of the return of schemes and products which assist in the purchasing process and provide buyers with more options than were previously available. Following on from the economic downturn, all available products and schemes aimed towards making it easier to begin the climb up the property ladder seemed to effectively disappear overnight. Recently we have seen a slow resurgence in these schemes and products which is welcome news. Today we will be discussing the new buy-to-let product from Dilosk and ICS mortgages which is aimed towards both individuals and companies.

 

The idea of buy-to-let is to turn a property purchase into an investment in order to utilise it as a cash flow solution. Upon purchasing the property, it is then placed for rent in the hopes of covering mortgage costs as well as any outgoings and perhaps generating some amount of income for the landlord. Buy to let involves dealing with the expectation of capital growth and thinking in the long-term which can be tricky as these matters are always in flux but it is ultimately a worthwhile endeavour which can generate cash flow which would not ordinarily exist which is never a negative thing these days.

 

ICS’s buy-to-let mortgage package is available to both individual and company investors. The loan structure for both options is fairly similar in that both offer a 10 year interest only option and a 20 year capital and repayment option as well as a minimum term of 5 years and a maximum of 20. The differences arise in relation to the borrowers themselves as there are additional criteria which applies to the individual and not the company investor.

 

The individual must be:

 

  • Min age at application: 21 Years.
  • Max age at maturity: 75 Years.
  • Minimum annual income: €40,000.
  • Max of four applicants.

 

 

The property must also be in the Republic of Ireland. Lending will be made available to those who meet these criteria, have a clean and who wish to buy in any major cities in the Republic of Ireland with more than 10,000 citizens. Further information can be found on their website or by contacting ICS directly. Finally we are seeing some positive movement in the mortgage market

 

Should you require any help, assistance or guidance on these or any other tax or business matters, please don’t hesitate to contact us.

 

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY

THAT WHICH SHALL NOT BE NAMED – MORTGAGE RULES

Over the past year, we have discussed mortgage issues at length with the various new changes to mortgage rules and the difficulties this has posed for both business and home buyers, in particular, for the first time buyer. It has become clear since the introduction of these new guidelines that the number of first time buyers was in decline. Recent reports however have shown that not only is this the case, but also the number of mortgages being approved has fallen in recent months.

 

Data from Banking and Payments Federation Ireland (BPFI) shows that from December to February, 1,951 mortgages were approved, which is a drop of 15.1% when compared with the same period in 2014-2015. First time buyers accounted for half of these approvals, whilst re-mortgages accounted for just over 13%. With the number of first time buyers apply for mortgages dropping by 27% in recent years, it is clear that the introduction of the new mortgage rules will continue to have a far reaching consequences on the property market.

 

Rachel Doyle of the Professional Insurance Broker’s Association (PIBA) lamented the situation and its long lasting effects recently, saying that

“The question now is, how much deeper is this crisis going to get before it turns around. If this situation becomes prolonged it will not only continue to prevent first-time buyers, primarily in their 20s and 30s and living in urban areas, particularly the greater Dublin area, from buying their first homes but it will impact the wider economy.”

 

Another change we are seeing is that the actual value of the mortgages approved was down by 5.8% from January to February, undoubtedly a result of new mortgage rules and the slight increase in spending over the Christmas period. The mortgages approved during this three month period are estimated to be worth around €374 million total, which remains in line with the 14% drop in value each year that we have seen in recent years.

 

We are all aware that there is to be a review of these mortgage rules to be published in November, and whilst prospective buyers will be hoping for some changes or leniency, recent comments suggest that this may not be the case. Chief economist Gabriel Fagan spoke at the recent presentation of the Central Bank’s quarterly accounts and stated that whilst a review will be published, it will certainly not result in the abolishment of these rules, and that there is the possibility that the rules may in fact be tightened.

 

Don’t say goodbye to that silver lining of home ownership just yet though as there is still a chance of change. Until that point, if you require any assistance or advice on your own financial matters, please don’t hesitate to contact us here at DCA Accountants.

“We shouldn’t think of a change taking place,” he said, adding that the rules may not be changed at all, or may in fact be tightened.

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DCA PARTNERSDECLAN DOLAN & EAMONN GARVEY