To Fix Or Not To Fix? Irish Examiner Article July 09
While the issue of exorbitant ‘break out’ fees charged by banks grabbed the headlines recently, the burning question for most homeowners is whether to stay variable or opt for a fixed-rate mortgage, writes Frank Conway
Read more: To Fix Or Not To Fix? Irish Examiner Article July 09Personal budgeting is more important than ever
In the heady days of borrowing, equity release, debt consolidation and top up loans, few homeowners really had the need to concern themselves with budgeting for the household finances. Incomes were rising, borrowing costs were reasonably low and banks seemed as if they could not give away enough money. So who could blame borrowers for putting things like budgeting at the bottom of their list of priorities.
Read MoreDebt forgiveness for consumers has a role to play in national recovery.
Debt seems to have replaced property prices as a topic of conversation for many. How to handle debt has immediate and significant consequences as more and more people continue to be made redundant or companies reduce incomes (as overtime, bonus, commission or even basic wage reductions). All this coupled with increasing Government levies on incomes and pension contributions; household budgets are being squeezed to levels never seen before.
Read MoreMortgage holders use lower repayments for savings, paying off debt, charity and summer holidays!
This survey was undertaken during the months of April & May 2009 to existing mortgage holders. Its purpose was to examine how mortgage holders, who have benefited from reductions to their monthly mortgage repayments, have managed those savings.
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Irish Mortgage Corporation Ltd. trading as Irish Mortgage Corporation, Irish Pensions Corporation, moneyzone is regulated by the Financial Regulator. Registered in Ireland: Reg No: 155087. Registered Office: 118 Lower Baggot Street, Dublin 2, Ireland.
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