Tag Archives: news

A rise in mortgage interest rates could affect thousands

As if things weren’t bad enough homeowners are now facing even more pain as interest rates are increasing even more. AIB’s chief executive warns of the future plans to increase variable rates. This move from AIB is set to spark a rise in the variable rates from other lenders also. Therefore around 300,000 people with variable home loans will be affected. AIB alone have around 70,000 customers who have variable rates.

Breaking this charge down basically means that every 0.25pc rise in rates adds €30 a month to the cost of repayments on every €200,000 borrowed. The new rise in rates will send the number of residential customers in arrears soaring. 

According to Broker Michael Dowling of Abacus Finance in Dublin all the lenders are all set to raise their rates but they just don’t want to be the first one to make the move. But sure enough once one goes ahead, they will all follow.

The banks want to see the average variable rate rise from 4.3pc to 5pc which would add around €1,000 a year to the annual repayments on a €200,000 mortgage.

The Government have now wiped their hands clean  of the mortgage rates even though in the past they put pressure on lenders to reduce these variable rates. In 2012 AIB brought in two rises of 0.5pc each.

David Duffy, AIB’s boss said that the bank would contact all those in arrears and offer them a deal to reconstruct their mortgage payments by the summer.

AIB Boss David Duffy

David Hall, of the Irish Mortgage Holders Association claims that Mr. Duffy had offered very few, if any distressed borrower’s long-term restructuring and when they were asked how many mortgage holders had been offered deals the AIB spokeswoman said she had no figures at the moment.

So the bank that the state has given €21.5bn to claims that its variable rate is one of the lowest on the market.

On the contrary there was a large increase in the number of mortgages that were issued in the last three months of last year. This was mainly due to buyers who were struggling to avail of mortgage tax relief. This has since been removed.

In 2012 nearly 16,000 mortgages were drawn down which totalled €2.6bn. This is the first annual increase we have seen since 2006.

Experts in the area have made their predictions that around €4bn worth of new mortgages will be issued this year.

Bank of Ireland, AIB and Permanent TSB have stated that they will increase their home-loan lending. Dermot O’Leary of Goodbody Stockbrokers said AIB and Bank of Ireland alone are committed to issuing €2bn each in mortgages this year.

We would love to hear your thoughts on the issues raised in this blog, feel free to leave comments! Thanks again for reading and don’t forget to follow us on twitter for daily blogs!.

Americas next “DOG” Model

With the economy the way it is nowadays, we all like to treat ourselves to something special every now and again. I know I love nothing but a new set of clothes.

I’ve often wondered though if we show signs of animalistic behaviour once in a while, do animals show signs of human behaviour? I mean we’ve all seen the countless home videos of cats and dogs “talking” but what if they went one step further and actually started DRESSING like us too! Seems a tad bit crazy if you ask me!

Apparently not for some people! We’d like to introduce you to the biggest name in dog modelling today, Menswear Dog! Unfortunately he wasn’t available for an interview as he has numerous “pet conferences” and “toto shoots” on his agenda! However he did send us a couple of his own private collection along with a short note about himself!

Quote ” Hi lady’s and tramps, I’m a 3 year old Shiba Inu living in NYC with a panache for all things style. My interests include never washing my selvage denim, lurking around Soho for someone to notice my steez, and sniffing around the finest neighbourhoods known to dogkind!”

He also asked for us to promote his Instagram, where you can see all the latest styles and trends. You can see more of him by searching: mensweardog

I guess it’s true when people say, every dog has his day!

Remember to check out our blog every Friday for the latest in weird and wacky news from around the world. Thanks for reading!

Basecamp – What is it and how will it benefit me?

Basecamp allows for an entire project to be stored on one page so as nothing gets lost and your team always knows where things are.

Some basic features include:

  • Every project has a place for a name and description
  • Discussions, decisions and feedback are centralized
  • Tasks in need of completion are kept in one place
  • Every draft, idea and concept saved on Basecamp for easy referral
  • Daily Recap report straight to you inbox everyday
  • Missed a day? With Basecamp, you have the ability to see exactly what you missed on a day to day basis
  • You are in complete control of who can see which projects
  • Supremely easy to use calendar, it’s the one place for every date!
  • Assigned someone a task? You’ll be updated upon completion!
  • Keeps your projects safe from start to finish!

For more information, click here.

No matter how many projects you have, Basecamp simplifies everything and keeps everything organized. A useful tool for any business!

“Wee can all have a poo with a view”

No, you haven’t read the title wrong, you don’t have to refresh the page assuming its incorrect, this is the article that has definitely made us wet ourselves with laughter!

The UK’s tallest building the aptly named “Shard” (with a D not a T) has a toilet located on it’s 68th floor which gives panoramic views of the busy city below.

The 95 story building opens on February 1st, and tickets cost a stinking £24.95! However, you will be surprised to know that the first 2 days are completely sold out!. That’s a queue for the loo we definitely don’t want to have to wait for!

The building is not just built for toilet users though as it is designed to attract the sight seeing tourist with free “Tell: Scopes” in the viewing areas which when used give audible descriptions of whatever landmark you are looking at!

All we are wondering is if there’s curtains available in the toilets ;)