Impact of Central Bank rules on the property market:

Impact of Central Bank rules on the property market:  Commentary by Dermot O’Leary, Chief Economist, Goodbody The Central Bank has called for “evidence-based” submissions to inform its review of macro-prudential rules first introduced at the beginning of 2015. In this spirit, a diverse group of property interests has set aside their competitive instincts to collaborate[…]

New arrears measures announced

Advocates for distressed mortgage holders have described the Government’s new measures to help those in difficulty as a step in the right direction. Extra measures to deal with the mortgage crisis were approved at a special Cabinet meeting this afternoon. Speaking afterwards, Minister for Finance Michael Noonan said they would be extending the range of[…]

Insolvency versus Debt Management

There is universal acceptance that the management of personal debt, be it mortgage (secured debt) or unsecured debt is still a problem. After 7 years, we have not addressed the issues in sufficient numbers. However, we have made more progress in the last 12 – 18 months than in the proceeding 5 years. This progress[…]

Ulster Bank offer mortgage write-offs

About 2,000 Ulster Bank mortgage arrears customers who have yet to engage with the bank about a possible restructuring of their loan are to receive a new communication urging them to talk to the lender. Ulster Bank has sent a one-page note to customers with six “commitments” on how the borrowers will be treated. This[…]

What is the cost of going bankrupt

THE COST OF going bankrupt in Ireland has fallen dramatically over the past two years. An individual can now expect to pay out less than 20% of what they would have had to in 2013 – with the cost of application coming down from €1,400 to €270. This is according to new information from the[…]