Homebuyers who lost deposits of up to €20,000 on apartments after a development company collapsed have asked the High Court to increase their refunds under a survival plan.
The High Court has heard the report from the examiner appointed to Laragan Developments on a scheme of arrangement for the company which is part of the Hanley Group.
The court was told the company has a deficit of up to €45m.
Lawyers for the examiner appointed to Laragan developments disclosed how the company has liabi... read more »
Monthly statistics from the Central Bank show the first net fall in mortgage lending since 1990.The figures also show a sharp fall-off in credit card spending.
The figures for April from the Central Bank confirm the property market has slowed to a trickle.
It is the first time that repayments on existing mortgages has been greater that new mortgage lending since the Central Bank began this monthly statistics series in 1990.
The figures show that overall, mortgage lending fell by over â‚... read more »
Apartment owners will have a greater say in the management of their complexes under new legislation published today by Minister for Justice Dermot Ahern.The Multi-Unit Developments Bill 2009 outlines legal protections that will affect over 500,000 apartment owners in new and existing complexes.
The Bill will set new standards for the operation of management companies and new rules for developers who build apartments.
Fine Gael welcomed the Bill, but said it was long-overdue.
Measures in... read more »
The latest index from Permanent TSB and the ESRI has shown that house prices fell by almost 2% last month.This brings prices back to levels not seen since the summer months in 2004.
It means that prices nationally have fallen by almost 5% in the first four months of this year.
The average price paid for a house nationally in April 2009 was €248,640, compared with €261,573 in December and a peak of €311,078 in February 2007.
Houses in the first-time buyer category are falling at th... read more »
The Revenue Commissioners has begun writing to tens of thousands of homeowners whose mortgage interest relief has been stopped.
In the April Budget the tax relief was limited to homeowners in the first seven years of their loans.
Revenue is now asking 134,000 homeowners to clarify when their loans started to establish whether the relief still applies to them.
Before last month's budget around 560,000 people qualified for mortgage interest relief.
Half of those receiving it had the re... read more »
It has emerged that 57,000 people currently receiving mortgage interest relief will no longer be entitled to it from tomorrow.
Read the full Revenue statement
For more information from Revenue
According to the Revenue Commissioners, as of the end of last year, there were 562,000 people receiving mortgage interest relief.
However the entitlement is to be suspended from 1 May for everyone except first-time buyers.
The move follows the announcement by the Government in it is supplementar... read more »
House prices in the North have dropped by nearly 30% over the last year, according to a new quarterly survey.It confirmed 2008 was the worst year for the housing market since the start of the 1980s.
The figures were contained in the latest University of Ulster Quarterly house price index, produced in partnership with the Bank of Ireland and the Housing Executive.
The survey showed prices had fallen by just over 28% in 2008.
It also confirmed the continuing low volume of house sales, wit... read more »
 Bank of Ireland and AIB Group have agreed to delay issuing repossession orders on homes for 12 months as part of the Government recapitalisation plan.
The banks have told Government that delaying repossession proceedings for those in arrears on their mortgages for any longer would be viewed negatively by investors.
The issue of mortgage arrears has become more central in the €7bn recapitalisation talks because of rising unemployment levels.
Negotiations continue today and any final ... read more »
30
Jan
 Houses prices in Ireland fell by 9.1% last year.
The House Price Index, published by the ESRI and Permanent TSB, indicates that the biggest prices drops were in commuter counties surrounding Dublin.
House prices were down 16.8% in these regions in 2008.
 Permanent TSB says houses prices now are where they were in the middle of 2005 and it is thought houses prices in 2009 will fall by a further 10%.
It says the market will not recover until the economic situation in Ireland signif... read more »
The latest figures from the Central Bank show that weakness in residential mortgage lending persisted in November.The Central Bank says that mortgage lending rose by just €96m in November.
This compares with an average monthly increase of over €850m between January and September of this year.
It also compares with an average monthly increase of almost €2bn at the height of the housing boom in 2006.
The annual rate of increase in residential mortgages slowed to 6.7% last month from... read more »
