Would probably be announced in the Budget if anything were to happen this year - so October.I remembered a 'downsizing incentive' some months ago:
The Fianna Fáil leader revealed his top civil servant Martin Fraser is chairing a new interdepartmental group set up within the last month “with everything on the table” to drive housing delivery. The Irish Independent understands that ministers are discussing possible tax incentives for people who want to rightsize, as well as discussions around a specific grant.
Has anyone got more info on the status of this idea? I live in a large house and am open to downsizing and building a small house in my large garden. Any ideas welcome.
It's ridiculous, would barely pay your moving expenses!-Save 2.5K - that's not exactly going to push people to downsize!
I spent the last two weeks looking at apartments near me. We would be moving from a 5 bed and thought that a 3 bed apartment might suit. I looked at new builds and second hand. South Dublin.How about exempting you from property tax for the duration of your life. That might work
This is probably the most critical point to be addressed if we want to encourage downsizing. The availability of bridging finance, or making 'property chains' normal as they are in the UK. Without it, talking about downsizing for most pensioners is just theoretical.however €900k would mean that I would need to sell my own home first as I could not get any br
Why don't Irish banks offer bridging finance any more to your knowledge?he availability of bridging finance, or making 'property chains' normal as they are in the UK.
I'm not sure if there's a specific reason to be honest. Amongst other things I'd say the market is just too small.Why don't Irish banks offer bridging finance any more to your knowledge?
I would have thought there's a niche for a product with a high upfront fee to cover the underwriting.In a perfect world, bridging should be repaid in 3 to 4 months, so barely long enough to cover your underwriting costs and capital.
I agree, but I have it the back of my head that doing so would be in breach of the Consumer Credit Act.high upfront fee to cover the underwriting.
Ah yes. I presume this was designed to stop lenders ripping people off with high effective rates via fees.I agree, but I have it the back of my head that doing so would be in breach of the Consumer Credit Act.
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