“Limerick homeowners need to “get tough” with the banks as house prices in the county fall by 9%”
A REVIEW of the mortgage market conducted by the Select Finance Group, has highlighted that lenders are currently making things increasingly difficult for existing mortgage customers and while it’s not always easy to transfer mortgages from one institution to another, there are several factors of which customers need to be aware.
According to Trevor Grant, MD of Select Finance Group, “It’s time for Limerick’s mortgage holders to take a more savvy approach when dealing with lenders. The average house price in Limerick currently stands at approximately 237,000 euro down over 9% on this time last year. For those with mortgages on properties which are decreasing in value now is a very worrying time. It is imperative that people keep their repayments as low as possible in an effort to manage their personal finances effectively. There are a variety of ways in which people can ensure they are getting the best deal on their mortgage one of which includes comparing the rates offered by their current lender and switching to another provider if these are not the most competitive.”
Government urged to still invest in science and technology markets
IRELAND’s chief scientific adviser Professor Patrick Cunningham has said the Government and business should “hold their nerve” and continue to invest in science and technology despite the economic pressure to cut budgets.
Speaking at the Presidents’ Research Awards in DCU this week, the Chief Scientific Adviser Prof Patrick Cunningham said such investment in the past decade had served us well. Ireland has come from behind and is now up to the average position among the 15 States who have been EU members for the longest period.
“A strong science base protects economies during a downturn, and allows them recover quickly when global conditions change”, he said. “Our vision is to lift Ireland into a position among the leading countries such as Sweden, Switzerland, Denmark and Finland. These countries have broad-based, resilient modern economies. Their steadiness in these difficult times reflects the level of education – including advanced science education – that they have as well as the wide range of sophisticated services and products on which their prosperity is based.” (Bizworld)
Unions react angrily to pensions levy imposed by Government
The country’s largest public sector union has demanded action against business and the wealthy as the price for its co-operation on the implementation of the new pension levy. The general secretary of IMPACT Peter McLoone said last night that the introduction of the levy was “extremely difficult” for his members to accept.
Mr Cowen, who announced the levy in the Dail on Tuesday as part of a 2bn euro package of cutbacks, said later that the government would discuss its implementation with the social partners. He also said he would “listen attentively” if there was a “tweaking” of the plan that could bring unions “onside”.
However, Mr McLoone responded last night by saying that his union would not discuss pain for its members without a contribution from business and the wealthy. “Any discussions will only happen in the context of the framework document agreed by government and IBEC last week,” he said. (Bizworld)
