Irish Independent: Payment holidays for mortgage holders impacted by coronavirus and maximum spend on contactless to rise to €50
Kevin Johnson of the Credit Union Development Association (Cuda), which represents many of the larger credit unions, said the movement was aware many members are already bearing the financial brunt of the Covid-19 national emergency.
Irish Independent: Irish banks dragging their feet as digital revolution sweeps through accountancy world
Irish banks and regulators have been “very slow to move with the times” regarding new rules for so-called open banking, according to the chief executive of online accounting company Big Red Cloud.
Marc O’Dwyer, whose company provides online accountancy software to thousands of small and medium Irish businesses, told the Sunday Independent the pillar banks and Central Bank have been slow to fully implement the new European payment services directive. It is aimed at boosting innovation and helping banking services adapt to new technologies and could provide efficiencies for small companies, he said.
Irish Independent: Irish banks dragging their feet as digital revolution sweeps through accountancy world
Online accounting platforms such as Big Red Cloud are likely to have to go through a regulatory process to become authorised account information service providers (AISPs).
“That is potentially a 12- to 18-month process in order for us to become regulated and to allow us to link the Big Red Cloud with the pillar bank account that the business owner uses,” he said.
Irish Independent: Your Questions: What determines how big a mortgage we can secure to buy a home?
According to chairman of the Association of Irish Mortgage Advisors, Trevor Grant. Your repayment capacity is a combination of your monthly rent, savings and any loans which will be cleared prior to you obtaining a mortgage.
You should look at your monthly expenditure and see which items you can reasonably cut out, which will then increase your monthly savings and ultimately the size of your deposit.
The Irish Times Business awards 2020 will be held on Wednesday, May 13th, in the Mansion House, Dublin. This year will mark the third year of the Business Awards in association with KPMG, with Joanna Murphy of Taxback.com being named among this year’s candidates.
https://www.irishtimes.com/business/the-irish-times-launches-third-annual-business-awards-1.4194320
One thing you may not have considered is Revenue’s Help-to-Buy (HTB) scheme. Because you want to buy a new-build, you may well be eligible, according to Joey Sheahan, head of credit with MyMortgages.ie and author of the newly released ‘The Mortgage Coach’.
The agreement was facilitated by the Credit Union Development Association, a body that enables credit unions to collaborate on activities and projects, which may not be possible as stand-alone entities.
Irish Indepdent: Your Questions: We are getting divorced so how do we go about splitting our life policy?
Barry McCutcheon, propositions lead at Royal London advises that it would be prudent to take legal advice on this. But from an insurance standpoint, in general terms, when people are getting a divorce, one of the parties could, as part of the divorce proceedings, apply for a financial compensation order.
Irish Independent: Irish households 80% wealthier than at recession low point, figures show
According to Trevor Grant of the Association of Irish Mortgage Advisers (AIMA), “While it’s great to see that the vast majority of people are out of negative equity, tens of thousands of standard variable-rate mortgage holders are significantly overpaying on their mortgage but are still reluctant to switch to lower rates, which in many cases is keeping rates high for a large number of existing mortgage-holders.”
Trevor Grant of theAssociation of Irish Mortgage Advisors suggests that this research demonstrates the importance of getting expert advice before making any financial decision
“In some circumstances, cashback offers make sense for consumers. However, some people can be unduly swayed by the immediate promise of free money, even if it means they may have to pay more initially for their mortgage. Often these monies are earmarked for white goods or furniture and while this is perfectly fine, it is vital that the borrower understands any longer-term implications of their choice of mortgage provider.”
