Search Results for 'Mortgage loan'

This week saw the issuing of two major house price surveys with both the Daft.ie 2014 Year in Review House Price Report and the MyHome.ie Quarter Four Report on 2014. According to the Daft.ie report the average house price nationwide is €193,000 while the average house price in Mayo is €121,000. The four per cent increase recorded in Mayo in 2014 contrasts with a fall of 8 per cent a year ago. Average house prices in Mayo are still 54 per cent below their peak in 2007.

The comments by the Governor of the Central Bank, Patrick Honohan, that he may consider a relaxation of the imposition of a 20 per cent deposit rule on new mortgage applicants have been welcomed by Sen Hildegarde Naughton.

The local property market has “bottomed out” and there appears to be some light at the end of the tunnel.

One hundred and thirty local authority mortgages are in arrears in Galway city, but a new €20 million fund could provide a way of allowing stretched families to stay in their homes.

This year has proven to be a turning point for the Galway housing market. After six years of falling prices, price inflation has re-emerged most notably in Galway city. The first nine months of 2013 saw the first period of positive annual price growth in the Galway housing market since 2006. Early indications suggest that the Galway city market has grown by more than 10 per cent during 2013. The strength of price growth in Galway city is fuelled by a shortage of supply.

Variable rate customers across Galway are being “hammered” due to the Government’s failure to stop banks from increasing the interest rates.

Approximately 95,500 homeowners are now in arrears for their principal home for over 90 days and the majority of these may be potentially under insured on their mortgage protection. This is according to analysis of the latest Central Bank figures by Caledonian Life, who have said that of the 95,500 homeowners who are in arrears for three months, many could be unaware of the need to reflect any changes to their mortgage repayment structure in their protection policies.

New rules on mortgage arrears will make it easier for banks to repossess family homes, according to Mayo Fianna Fáil Deputy Dara Calleary.

According to the report Regional Quality of Life in Ireland, 2013 published by the CSO on Wednesday, Mayo had the fewest drivers with penalty points (13.1 per cent) in Ireland.

Mayo Deputy Dara Calleary has said new proposals on tackling the mortgage crisis published by Fianna Fáil this week will put homeowners back in the driving seat instead of giving all the power to the banks.