Paul Reilly
Registered User
- Messages
- 78
By "untargeted" I mean that MIR does not discriminate between borrowers on the basis of need.What do you mean an untargeted Relief?
Nope.I thought MIR was for your first house only
All the indications are that the Minister is going to honour the Supply and Confidence Agreement with FF and will extend MIR tomorrow for three additional years on a tapered basis.Well if they abolish the MIR Variable Rates should be capped OR charge the bank levy based on Highest Variable Rate charged by the individual bank.
I thought MIR was for your first house only.
Although I suspect if Sarencos mate bought his second house during that period he had to pay a big chunk in stamp duty.
What this effectively means is that people on Variable Rates and other rateswho bought from 2004 to 2012 their repayment will increase by 50euro a month in 2018, 100euro a month in 2019 and 150 euro a month from 2020.
That should have been the case but FTBs that purchased between 1 January 2004 and 31 December 2008 got MIR at an enhanced rate of 30% for 2012 to 2017 with no step down.it was always due to taper after 7 years for FTBs, so only people who bought in 2012 would have still been on the higher rates in 2018.
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