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    KBC - Deliberately Restricting Online Functionality of Deposit Accounts

    Fairly bizarre stuff. I have long held a Smart Access Demand account with KBC (no doubt when I opened it the rate was reasonable). It always annoyed me that you could not transfer money from it online, it was fairly stone age years ago, never mind now. When I logged back in recently I was...
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    Moving to the UK - Access to Credit

    I am about to move to the UK. One of the things concerning me is that it appears I'll be starting from scratch in terms of credit history, and presumably I may struggle to obtain a UK credit card because of it. Is there any way I can leverage my Irish credit history (which is impeccable) to...
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    Great article by Karl Deeter on housing bubbles, shortages etc

    But...but....but, what about all the people who have no money but deserve to buy a house?
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    Salary of 35k Gross has been approved for a 280k mortgage

    It is very unlikely that the simple facts as stated in the OP were actually true (I am sure Kerrigan was reporting it as he heard it in good faith). No one was offering 8 x gross salary in 2012.
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    "Which bank will give the biggest mortgage?"

    The tone of that article is a worry. Despite the obligatory "don't overstretch" the general thrust is to lead people into as much debt as possible. "But if your main priority is to get the mortgage, you need to win a bidding race. Which lender will give you the most money?" It's a shame they...
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    Key Post Q1 2014 Mortgage Arrears Stats issued

    Perhaps because: - Repossessions are still not occurring at any noticeable rate. If the banks maintain their current rate of repossessing BTL properties it will take them approximately 45 years to work through the > 720 day cases (assuming that category ceased growing today!) - The main...
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    AIB and KBC to write off all debts in cases of voluntary surrender

    Surely that would depend on whether the borrower can come close to making the repayments? Charlie's article is a bit bare bones. The examiner article has a bit more detail and explains that it could result in various outcomes for various people. Obviously some combinations are no doubt possible...
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    AIB and KBC to write off all debts in cases of voluntary surrender

    ...probably afraid of a wave of borrowers throwing the keys at them. There is a substantial body of people who can't service their mortgage and the loss needs to be crystallised, whether the banks want to cover their eyes and ears or not. I would think they should be welcoming the prospect of...
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    New Government scheme to help first time buyers - Advice to avoid

    Pretty much everyone thinks it's a bad idea except the CIF. Funny, that. Now, who has a very active and well ensconced lobbyist, FTBs or the CIF? That tells the story. Much as the solution to unaffordable house prices in the boom was to force more credit on people (and have the state take on...
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    ptsb increases their SVR on home loans by 0.16%

    I'm not sure what that has to do with the difficulties banks have in enforcing security where repayments are either not being made in full or are not being made at all. As things currently stand, a borrower who defaults could conceivably stay in a property for 4 years + without making any...
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    ptsb increases their SVR on home loans by 0.16%

    It still amazes me that mortgage rates are as low as they are, considering banks can't really enforce their security on properties in Ireland. Perhaps that will change over time.
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    repayments & illness

    Banks generally have a hardship committee or hardship policy, which he should fall under. All in all I wouldn't be worried about the bank too much. There are people in houses worth a lot more for a number of years and the banks are barely into the legal route. Really the most important thing...
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    Selling an investment property with tenant in occupation

    Is it not the case that at least some mortgage providers won't provide a non-investor mortgage where there is a tenant in place? So you could be restricting your pool of potential buyers to cash buyers or investors.
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    Are we FTBs?

    Only for those who go with BoI, if you're referring to their recent offer to pay stamp duty for FTBS.
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    Moral hazard of banks writing off debt

    It's interesting that you say that. Do you not wonder if its existence was in some way related to our housing bubble? I mean if people are aware that repossession is an unlikely outcome, surely they will change their behaviour accordingly. Maybe this is an under appreciated contributory factor...
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    Moral hazard of banks writing off debt

    You still don't seem to understand the point I'm trying to make. As I have said in this thread, I have been through the mortgage approval process. I know what the banks are willing to lend. For a single income family with a child, AIB will lend 4.3 times that single salary. The point isn't what...
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    Moral hazard of banks writing off debt

    I'm not sure if your misreading of my point is deliberate or not, but allow me to clarify for you: I am not suggesting anyone take out a mortgage "they can't afford". I am merely stating that there is little to incentive to a borrower restricting their borrowings themselves. It isn't rational...
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    Moral hazard of banks writing off debt

    It's not moot at all, Brendan. I am speaking here from experience. I have been mortgage approved for 275k in the past, but my salary would actually make it possible to borrow 310k or so (maybe a bit more since I was approved originally). The old me was prudent, I only wanted to borrow 275k...
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    Moral hazard of banks writing off debt

    They probably did it to an extreme degree. For instance, I haven't had any borrowings since college (I'm now 32). Never a car loan, never an unpaid Credit Card bill. I don't intend that to change. But as for a mortgage... Give me one reasonable reason why I should not borrow 310k instead of...
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    Moral hazard of banks writing off debt

    You seem to equate "moral hazard" with strategic default. Why? My example above is more "pure" as an example of moral hazard than a case of strategic default. Strategic default (not paying when you could reasonably pay) is more akin to fraud. I could pay my contractually obligated debts to you...
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