AIB yesterday turned up the heat in a mortgage price war for first-time buyers by offering the lowest interest rate in the market.
Moving.ie launched the 2009 Edition of their Home Buyers Guide Today
The UK pound rose the most against the euro since the debut of the common currency a decade ago on bets the ECB may be spurred to cut interest rates to limit the fallout from the recession.
A new study has shown that the majority of people who take out mortgages with expensive subprime lenders move to conventional lenders within three to four years.
EBS and Permanent TSB have confirmed they will pass on in full the full three-quarters of a percentage cut in interest rates introduced by the European Central Bank yesterday.
The European Central Bank (ECB) has cut borrowing costs by a record level in a bid to stimulate economic activity, as the euro zone sinks deeper into recession.
The European Central Bank is expected to cut interest rates to at least a two-year low today armed with a new set of in-house forecasts likely to confirm that the euro zone economy is in serious trouble.
Figures show national house price reduction of 1.1% in September & a reduction of 7.0% in the first nine months of 2008.
Bank of Ireland is understood to be reviewing its continued lending in the UK mortgage market -- where it has a £27.5bn (33.8bn) loan book -- that could result in job cuts there.
A NUMBER of lenders have decided not to pass on interest rate cuts to their buy-to-let customers in a move that has been described as unfair to property investors.
The slump in the Northern Ireland housing market is bottoming out and the first shoots of recovery are starting to emerge, surveyors claimed today.
The European Central Bank lowered interest rates for the second time in less than a month to counter the euro region's worst economic slump in 15 years.
The Bank of England slashed borrowing costs today by 150 basis points to soften the blow of a sharp economic downturn. The cut took interest rates to 3 per cent.
AT LEAST 140,000 homeowners have fallen into negative equity, with this figure expected to rise to 200,000 by the end of next year, it was warned last night.
The Construction Industry Federation (CIF) has written to the Financial Regulator, the Governor of the Central Bank and the Minister for Finance outlining complaints from its members about three banks that have raised interest rates and other charges on existing loans despite lower European Central Bank and interbank-lending rates.
Jean-Claude Trichet is extending the European Central Bank's (ECB) powers just as it gears up for what may be the fastest round of interest-rate cuts in its 10-year history.
Figures from the Central Bank show that the annual rate of growth in mortgage lending in September recovered from its 21 year low in August.
Annual mortgage lending growth to 8.5 per cent in September, the lowest level since September 1986, according to new statistics released today.
Euribor, the euro rate that banks charge each other for three-month loans, fell more than 3 basis points to 4.79pc, the lowest level since last April, according to the European Banking Fereration.
The number of houses being built across the State has hit a new low with construction starting on two-thirds fewer houses in the first nine months of this year than in the same period last year, according to the Department of the Environment.
The ability of Irish banks to see out the credit crunch with merely a government guarantee is becoming unrealistic, writes David Clerkin, Markets Correspondent.
Royal Bank of Scotland is thought to be reviewing the future of its 2bn Ulster Bank and First Active.
The global banking system is past the danger of systemic meltdown following government intervention, but there will still be economic consequences, the chairman of Britain's Financial Services Authority said today.
Two leading property developers have slashed prices on new homes and apartments by up to 140,000 in a desperate bid to tempt buyers.
There are growing hopes of a pre-Christmas present of lower interest rates -- a move that would lift a little of the economic gloom.
Yesterday, The Minister of Finance, Brian Lenihan, announced the toughest budget in 20 years.
Here are some of the main points:
200 annual property charge on rental properties and holiday homes.
Stamp Duty on commercial properties will be reduced from 9% to 6%
Mortgage Interest Relief has been increased
Local Authority mortgage scheme to be extended
Affordable housing scheme to be rationalised
Income levy of 1% & 2% introduced
Budget News from 3.45pm
The Government will today unleash the harshest Budget in decades with a 1pc 'super tax' on income among a string of swingeing measures.
Finance Minister Brian Lenihan has described today as an important day for Ireland in tackling the challenges of the economic downturn.
AIB today announced that it will no longer offer Tracker Mortgages for new mortgage applicants, effective from close of business today, Friday 10th October 2008.
The ECB, US Federal Reserve & Bank of England have all announced a 0.5% interest rate drop.
The ECB may be slow to relax monetary policy, but when it gets going, it can move with speed
Euro Zone interest rates could soon be cut for the first time in five years, the European Central Bank (ECB) signalled yesterday, after acknowledging that global financial turmoil had changed substantially the economic outlook for the 15-country region.
A leading developer is attempting to kick-start the faltering housing market by offering house buyers an interest-free loan on part of the property.
THE Government will announce a range of new measures to help first-time homebuyers in a Budget being dramatically brought forward by nearly two months.
ICS Building Society is to stop providing tracker mortgages for people buying investment properties from Tuesday.
The ongoing economic downturn has meant that securing a mortgage is a lot more difficult than it was in the recent past, writes Emma Kennedy.
Up to 40 per cent of Irish Life and Permanents 27 billion Irish home loan book is tied up in unprofitable tracker mortgages linked to the European Central Bank (ECB) rate, according to figures provided by the company.
Property developer and philanthropist Niall Mellon will this week sign a$25 million deal with Merrill Lynch to broaden the activities of his housing trust in South Africa.
European Central Bank (ECB) president Jean-Claude Trichet has defended the institution's responses to the financial turmoil that has shaken global markets for the past year and warned the turbulence is not over.
The managing director of subprime lender Nua Homeloans is resigning and the company is shutting its doors to new business just 16 months after launching.
The chief executive of a specialist lending firm is taking the unusual step of going part-time due to the lack of growth opportunities in the business in yet another sign of the difficulties facing the funding-starved finance sector.
A new report has shown a sharp fall in the value of commercial property deals in the first half of this year.
