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Saturday 2 December 2023 Dublin: 2°C

# Mortgages

Last week
19th November 2023 - 2nd December 2023
Early signs of repayment challenges for vulnerable mortgage holders, the Central Bank says
The Central Bank said the full impact of higher interest rates still lies ahead.
Last month
November 2023
The average age for first-time buyer mortgages reaches 35
Just a fifth of first-time buyers are under the age of 30.
Start Mortgages set to quit the Irish market and transfer loan servicing to Mars Capital
A source said it will be ‘business as usual at Start’ and that there is ‘no reason for customers of Start to be concerned’.
People who rent are now paying over €3,500 more per annum than mortgage holders
Renters in Dublin City Centre pay €8,359 more than mortgage holders.
Opinion: Budget 2024 mortgage tax relief - is it too little, too late?
The budgetary measure of support for mortgage holders is welcome, but inadequate, says Mark Coan.
This year
Minister calls on Pepper to be 'absolutely clear' with customers about new fixed mortgage interest rate
Mortgage holders with non-banks and vulture funds can now switch to one of the pillar banks, says Minister McGrath.
Michael McGrath expects move by Irish banks to boost deposit rates
The Finance Minister said he expects Irish savers will soon receive positive news.
AIB apologises for letters to mortgage holders raising repayments
Some mortgage holders were told they were under-charged on their mortgage when they were with Ulster Bank and that their payments would increase.
'I wonder have I failed my family': Readers describe their struggles with mortgage repayments
A report by
Jane Matthews
We asked readers how higher mortgage interest rates are impacting them.
Are you struggling because of increased mortgage interest rates?
Have your monthly outgoings shot up as a result of higher mortgage interest rates? We want to hear from you.
Sinn Féin say mortgage interest relief for homeowners ‘can’t wait until Budget’
Opponents of mortgage interest relief argue that it is unequitable and favours homeowners at a time when renters are signficantly more exposed to high housing costs.
Permanent TSB increases rates on some of its fixed rate mortgages
Permanent TSB customers are encouraged to contact the bank to enquire about the specific rates on their mortgages and loans.
Are UK mortgage affordability struggles a sign of things to come in Ireland?
Changes in mortgage interest rates could leave people paying hundreds of euros extra a month.
Irish households generally don't spend more income on housing compared to elsewhere in Europe
Research published today by the ESRI, funded by the Department of Housing, explores the housing affordability challenges faced in Ireland.
Irish mortgage rates rise above eurozone average with further increases likely
The average interest rate for a new mortgage in Ireland was 3.84% in May, up from 3.63% in April.
Now versus the 1980s: How interest rates impact household budgets
Paul O’Donoghue looks at the comparisons between the generations.
'My mortgage has gone up by €330 a month this year alone. Where will it end?'
The latest interest rate hike by the European Central Bank is set to leave Irish mortgage holders with higher bills.
Analysis: 'A number of variable mortgage holders are now looking vulnerable to rate hikes'
Mark Coan of moneysherpa has some advice for those on variable or short term fixed rates.
Analysis: Government and the Central Bank can take steps to free the 60,000 mortgage prisoners
Mark Coan of Money Sherpa says more needs to be gone at the regulatory level to help those in insecure mortgage positions.
McGrath welcomes ruling ordering Pepper Finance to lower mortgage rate for borrower in insolvency
The couple will now pay a rate of 2.5% over the next 25 years.
Financial advisor: Another ECB hike has been imposed - what should mortgage holders do?
Kieran McAuliffe of Provest looks at today’s ECB increase in interest rates – the seventh in a row – and has some advice for mortgage holders.
Start of 2023 ushers in mortgage slowdown as drawdowns slide by a third
10,908 new mortgages to the value of €2,868 million were drawn down by borrowers during the first quarter of 2023.
Bank of Ireland apologises over error in transferring over around 35,000 KBC mortgages
The mortgage “start date” for a number of mortgages transferring from KBC to BOI was “incorrectly inputted into our systems”.
Homeowners with €6,000 owed on mortgage given repossession orders, committee told
An Oireachtas committee was told non-banking entities own more than 56% of all domestic mortgages in arrears.
Financial expert: 'Never give up your tracker' may not be the best advice anymore
Mark Coan of moneysherpa has some advice for those on a tracker mortgage.
Ulster Bank increases fixed mortgage rates for second time in four months
The new rates are effective from today and will only apply to certain existing customers.
Government-backed mortgage offers are set to get bigger from March
Houses valued up to €360,000 in Dun Laoghaire Rathdown, South Dublin, Dublin City, Fingal, Wicklow and Kildare will soon be eligible for the loan.
Ireland had the highest number of mortgage drawdowns last year since 2008
That’s according to two reports published today by the Banking and Payments Federation Ireland.
Bank of Ireland increasing fixed mortgage rates again
The banks’s fixed interest rates will increase by 0.75% for all new mortgage loan drawdowns.
Value of mortgages increase by 16.8% in 12 months: banking lobby report
The value of first-time buyers’ mortgages rose 1.4% year-on-year, according to the report.
Last year
Tánaiste says there are no current plans to reintroduce mortgage interest relief
Varadkar said there are no plans currently but it’s not something the Government would rule out for the future.
Permanent TSB becomes latest bank to raise interest on fixed rate mortgages
The increases will range from 0.05% to 0.9% depending on a range of factors.
Bank of Ireland immediately raises interest rates by 0.25% for new fixed rate mortgages
Bank of Ireland says the move is ‘in light of recent interest rate increases by the European Central Bank’.
Mortgage change rules to 'boost purchasing power' of renters
The share of renters that can purchase a three-bed semi-detached home in Dublin has fallen since 2015, says the Central Bank.
Mortgage lending limits: What will the new Central Bank announcements mean for you?
An easing of lending restrictions announced today will make a mortgage more accessible for first-time buyers
Housing minister welcomes mortgage rule change but concerns raised about house price increases
Concerns have been raised about increasing borrowing limits when supply remains low.
Central Bank rule change: First-time buyers to be able to borrow four times gross income
A review into mortgage lending began last year.
Mortgage customers 'frustrated' over wait times to switch lenders amid interest rate hikes
There has been a significant increase in applications over the last 12 months, brokers have said.
One customer started his application in July and still has not received a loan offer from the lender he wants to switch his mortgage to, Michelle Hennessy reports.
Brokers have said the exit of Ulster Bank and KBC from the market has left other lenders struggling to keep up with rising demand.
Analysis: ECB rates are on the rise, what does this mean for mortgage holders?
Financial expert David Quinn looks at the latest rate hike and the options available to homeowners.
House hunters' spending power drops by 9% as average house price continues to rise
House hunters now have an average of €27,000 less to spend on a home compared to this time last year.