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Tag Archives: mortgages

8% of Clare mortgages in arrears

THE Central Bank has today (Monday) confirmed that 8% of mortgages in Clare are currently in arrears. The Central Bank has also noted almost 66% of people are unaware that there are free support services available to home-owners who are in mortgage arrears, as outlined in a new study conducted by the Citizens Information Board (CIB). The finding comes on foot of the recent launch of the communications campaign for Abhaile by the Tánaiste and Minister for Justice and Equality, Frances Fitzgerald and Minister for Social Protection, Leo Varadkar. Angela Black, chief executive of CIB welcomed the report, which forms part of the communications campaign, aimed at increasing awareness of Abhaile, the Free Mortgage Arrears Support service dministered by MABS. Since its introduction last October, Abhaile has helped in excess of 4,800 people in mortgage distress. “We very much welcome the launch of the communications campaign, which has been developed specifically with the distressed borrower in mind. While this service has already brought much …

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House prices up, supply down

House prices in Ennis have begun to rise again after losing more than half their value over the past seven years and may be up by 20% this year. But the number of properties for sale are falling, as the supply of houses coming to the market contracts. “We’ve seen a significant change since the beginning of August. There was a change from March or April on but from August on – particularly in Ennis – quite a lot of housing supply was snapped up and the available stock has contracted significantly. Houses are selling but the supply is just not being replaced,” said Diarmuid McMahon of Sherry FitzGerald McMahon. “There are more people buying than selling and there’s no new supply. There has been nothing built in five or six years, and that’s starting to bite,” he said. Much of the impetus for rising prices comes from the rise in confidence in the economy this year; and also from …

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