AIB’s Profit Built On Sweat Of Taxpayers – Mattie McGrath

Independent TD Mattie McGrath has called on AIB and Bank of Ireland to offer greater assurances to distressed mortgage holders that they will not be abandoned to vulture funds as part of the bank’s efforts to address challenges within their loan book portfolios. Deputy McGrath was speaking as AIB reported profits of €1.6 billion while […]

CIF Comment On Central Bank Rule Changes

Following the review of mortgage measures announced by the Central Bank, CIF Director General, Tom Parlon, stated: “The CIF recognises that the Central Bank’s macro-prudential rules are part of a necessary regulatory framework within the Irish banking system. Today’s changes to the deposit rules may assist first-time buyers in securing mortgages. Providing mortgages to this […]

Average couple frozen out of the housing market – CIF

Research shows that average couple (nurse, garda, teacher or civil servants with 5 years’ experience) are unable to secure a mortgage for average priced house.) The Construction Industry Federation’s submission to the Central Bank’s review of its macro-prudential mortgage recommended changes to the rules that would allow the average couple with a strong track record […]

Better Protection For Home Buyers Under New EU Mortgage Rules

Speaking from Strasbourg yesterday, after the European Parliament gave its final backing to a law setting EU-wide standards on mortgages, Labour MEP for Ireland South, Phil Prendergast, said:   “This new legislation covering mortgages on residential property means that home buyers who take out a loan will be better protected under common, EU-wide standards.   […]

Healy Advocates Relief for Mortgage Holders in Negative Equity

In a speech in the Dáil on Wednesday evening, Seamus Healy TD supported a Private Members Bill to remove Veto from Banks in Personal Insolvency Procedures and to revalue owner occupied properties downwards to 110% of  the value to-day as has been done in other countries. The motion was defeated by the combined votes of Labour Party […]

Anti Eviction Taskforce Launches in Ireland

An independent group of home owners has decided to band together and unite in a concerted effort to protect all homes against repossession. The group, calling itself the Anti-Eviction Taskforce is growing in numbers at a tremendous pace. Starting with a handful of people under threat of eviction, its numbers swelled to over 200 people […]