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  1. P

    €220k cap on 90% LTV gone completely; 5% of FTBs to be allowed borrow >90% !

    Sorry I didn't mean interest only repayments. I meant most of the repayments were interest so principal went down very very slowly at the beginning. My apartment doesn't have pyrite or in a ghost estate! But now I'm worried why prices are so low if others seem to be out of negative equity!!
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    €220k cap on 90% LTV gone completely; 5% of FTBs to be allowed borrow >90% !

    I made all payments. Never in any financial trouble of any kind, didn't borrow beyond my budget. Most of my repayments were interest for many years so only really bringing down principle amount in last few years. apartments were €330,000 and dropped to €90,000. Only very slowly regaining value...
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    €220k cap on 90% LTV gone completely; 5% of FTBs to be allowed borrow >90% !

    My mortgage is 13 years old and I'm €100,000 in negative equity. I can't see my being at zero in 5 years unless there is a major increase in house prices. And yes it is an apartment. In hindsight I would have borrowed much more money and bought a house. Being " prudent" in amount borrowed had...
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    €220k cap on 90% LTV gone completely; 5% of FTBs to be allowed borrow >90% !

    But most who bought 6 to 18 years ago will be in negative equity. Those who bought before then may not be in nagative equity but less likely now to have a growing family and a huge need to move.
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    €220k cap on 90% LTV gone completely; 5% of FTBs to be allowed borrow >90% !

    I wish we could ban the phrase "property ladder". It's not very reassuring that some first time buyers don't know what negative equity is.
  6. P

    Will the Help to Buy dramatically increase prices of new houses?

    Worse than that. It won't benefit anybody. But at least first time buyers can get in there first. 5% deposit versus 20% has suddenly totally distorted the playing field.
  7. P

    Will the Help to Buy dramatically increase prices of new houses?

    But it won't matter if the biggest obstacle ( the deposit) has disappeared. I wager people will be happy to pay increased cost.
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    What is the squeezed middle?

    I'm absolutely agree. We can't keep shovelling money into poorly managed disjointed services!
  9. P

    What is the squeezed middle?

    I see your point bigshort and I think you are probably right. But going to college, working hard and putting in the extra hours was somewhat automatic for me and my group of friends. And was encouraged by our parents. But with hindsight, I wouldn't be pushing the next generation in that...
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    What is the squeezed middle?

    That is an important point, especially with talk of college fees being re-introduced. Add in a student loan of €20-30,000 and the pay off gets smaller and smaller. For my parents generation everyone was in the same boat, but for my generation I genuinely cannot see a big difference between many...
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    Fiancée with a negative equity mortgage

    Wow. Ok you say you are lucky to have equity in your home and your fiancée was naive/ got poor advice / was in someway duped by her parents so she doesn't have equity and is now a burden on you! It's good of you to still marry her without a dowry or financial awareness. I assume it's her house...
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    Will the Help to Buy dramatically increase prices of new houses?

    Builders maintain they cannot currently build houses for profit at current market prices. Is this a valid position? If second time buyers are now priced out of the " new home" market will that increase prices of 2nd hand homes? That could lift some out of negative equity, thus freeing up their...
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    "Budget discriminates against parents who do not want children in day care"

    Thanks for that info. In my mind encouraging part time work through policy and legislation would be a good balance between parenting and getting tax into the system. But it appears to be a deeply unpalatable concept.
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    "Budget discriminates against parents who do not want children in day care"

    Those earning a combined income of €47,500 or more will not benefit in tax relief for childcare from 3 to 15 years old. Beginning to believe in the sqeezed middle yet?
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    "Budget discriminates against parents who do not want children in day care"

    People who stay at home with children get 1100 home carers allowance. Those on relatively normal wages who both work and have children older than 3 get nothing ( ie those most likely to be in negative equity). I'm not totally sure of means testing criteria but will assume it is for low paid (...
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    What is the squeezed middle?

    Ok, I'm leaving it here. But let's assume there are people living in this utopia who have to travel an hour to work ( blame rental prices, lack of local jobs, high crèche fees in urban centres-whichever you choose), so assume this means taking a 3 year old from bed at 6.20, wash, dress, wiggle...
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    Is there a plan for those who retire without owning a home?

    Any work I do at weekends for example is taxed at 58% ( public sector tax rates)
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    Is there a plan for those who retire without owning a home?

    A lot of my tax is on first home. The rental income is taxed. It just doesn't get in my pocket ( I'm gambling that it will pay off long term)
  19. P

    What is the squeezed middle?

    Do a quick job search for jobs compatible with family life and see how many jobs you find. It must depend on what area of public service you are in then but it is not universal. My job is perfectly suitable for part time work. I am in fact part time ( technically ) but my colleagues are not and...
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    Is there a plan for those who retire without owning a home?

    I don't believe the state should provide homes but the fact will remain that for a certain generation, they will neither afford to buy a home or afford to rent upon retirement. I do not count myself in this cohort. Hopefully I will be able to sell apartment one day and own a suitable home where...
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