Search Results for 'Mortgage loan'

Q. I purchased two residential investment properties in the middle of 2007. I took out loans on an interest only basis. The interest-only period on those loans is coming to an end in December of this year. The capital repayments on the loan will probably be impossible for me to finance. I don’t think that I can sell the houses in the current climate and even if I could, I would have to sell them at a loss. Is there anything that I can do to reduce the financing cost?

Sinn Féin EU East and local election candidate for Kilkenny city, Kathleen Funchion, has said that a recent revelation made by head of statistics at the Central Bank John Kelly is very worrying.

O’Donnellan & Joyce Financial Services is experiencing an increase in enquiries from customers who wish to either refinance existing lending or organise an equity release on their current property.

As thousands of families run into mortgage problems and the latest High Court data shows that as many as 100 repossession applications are being heard each week, Fine Gael senator John Paul Phelan has called for Fine Gael’s home owner support scheme to be implemented now.

A public information session on the new Home Choice Loan - announced for first time buyers in Budget 2009 - will be held in the Marriott Hotel on Monday October 20 at 8pm.

There is good news for under pressure mortgage holders in Budget 2010 according to Deputy John McGuinness.

A new Government backed mortgage has been launched for first time buyers called Home Choice. This is a mortgage provided through local authorities to first time buyers who are unable to secure sufficient finance from a bank or building society. Home choice loan will provide up to 92 per cent of the market value of a property purchased and the maximum loan amount will be €285,000 which will be repaid on a monthly basis.

The last 18 months has been a turbulent affair in the property and banking business. Auctioneers’ window displays showing the same properties, the only changes on the brochures in the windows are the prices falling, yet the properties still are not selling.

A new local authority mortgage scheme has ‘Paddy the plasterer’ written all over it and further marginalises low income earners, according to some local representatives.

The recent announcement of a 75 basis point cut in the main refinancing bid rate by the European Central Bank is warmly welcomed by Colm Farrell, director of Sherry FitzGerald Farrell property advisors in Gort.