http://www.homebrokers.ie/blog/wp-content/uploads/2010/02/Weekly-Invest-News-220210.pdf
Archive for February, 2010
Weekly Investment News from Zurich
Tuesday, February 23rd, 2010Knight Frank releases latest London Market Research
Wednesday, February 17th, 2010KBC Launches new Money Saver Mortgage
Wednesday, February 17th, 2010KBC (formerly IIB Homeloans) has launched a new switcher product, here’s their blub on the product…
CUSTOMER BENEFITS
- You can save €000s in interest payments over the term of the mortgage
- Pay lower monthly mortgage repayments
KEY FEATURES
- Competitive range of rates including fixed and variable
- €1,000 contribution towards your legal fees
- Up to 80% Loan to Value (LTV)
- Term debt consolidation up to €40K
- Simple and straight forward application process
- Range of flexible repayment options
- Minimum Loan Amount €75,000
http://www.homebrokers.ie/blog/wp-content/uploads/2010/02/Money-Saver-Brochure.pdf
| WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.
WARNING: THIS LOAN MAY TAKE LONGER TO PAY OFF THAN YOUR PREVIOUS LOANS. THIS MEANS YOU MAY PAY MORE THAN IF YOU PAID OVER A SHORTER TERM. |
Monthly Investments Review from Zurich Life
Wednesday, February 17th, 2010KBC to follow PTSB and increase mortgage interest rates
Monday, February 15th, 2010POSSIBLE KBC INTEREST RATE HIKE – KBC Bank is not ruling out an interest rate increase for some of its 58,000 mortgage customers in Ireland this year, says the Irish Examiner. It said any decision on interest rates depends on the performance of the economy but KBC Ireland, chief executive John Reynolds said if there was to be a hike it would likely be in the latter half of the year. KBC Ireland reported profits, after tax and impairment costs of €92 million for 2009, down more than 10% from the 2008. The bank said the results were “acceptable” given the tough trading environment but Mr Reynolds said mortgage lending was down by a “massive amount”. “We did not do enough business on the mortgage side as we would have liked,” he said. Mr Reynolds expects 2010 to be “somewhat more buoyant” than last year adding that activity should increase significantly by 2012. He also does not think there’ll be any reduction to their 420 strong Irish workforce.
Weekly Investment News from Zurich
Monday, February 8th, 2010KBC to pump €1bn into mortgage market
Wednesday, February 3rd, 2010KBC Homeloans, the mortgage subsidiary of KBC Bank, is prepared to lend up to €1bn this year through two new mortgage products it is launching after imposing a virtual freeze on new business in 2009, according to mortgage brokers the bank met last week.
The lender indicated that it has an estimated €800m-€1bn to lend for 2010 and will be introducing a switcher mortgage and offset mortgage to its product mix to attract new customers and increase its 10% homeloans market share.
The move signals a return to the market after the Belgian-owned bank effectively shut down to new business last year amid rising arrears in Ireland, credit downgrades and a €2bn capital bail-out of its parent company by the Flemish government.
Sources said KBC had now reversed course and was “beating the bushes” for the “right type” of borrower.
New mortgage lending from all banks in 2009 was about €8bn, according to the Irish Banking Federation. Assuming KBC at least holds its portion of the market, the bank should issue about 4,000 new homeloans this year.
Brokers said KBC’s new switcher mortgage will allow borrowers to consolidate up to €40,000 of other debts and will pay €1,000 towards legal fees.
The offset mortgage, called Saver Plus, will have a 2.45% variable rate but a loan-to-value limit of 80%. It also allows for withdrawal of overpayments.
Last year the Irish unit of KBC had the highest share of non-performing loans across the whole group.
Property Developers come down hard on on off plan investors
Wednesday, February 3rd, 2010Hard Times Ahead For Off-Plan Property Investors writes Graham Norwood