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Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:54 pm
by Duff Paddy
Flametop wrote:
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
The 3 bed semi d is €435k
Take away HTB grant of 20k then it's €415k.
65k deposit means mortgage of €350k so a couple on a combined salary of 100k would be laughing. BoI will even give you 3% of your mortgage cash back to furnish it.
So stop f**king moaning!!!
3 bed semi 435k. Lets assume first timers so 10% deposit @ 43k. Help to buy will give you 20k so you need to self fund the 23k. Grand.

So conclusion is the mortgage is 392k NOT your claimed 350k.

To get a mortgage of 392k you need a salary of 112k. What jobs bring in 112k? or even two full-time 55k jobs? At what age do you get to 55k in your career? Lets hope menopause hasn't kicked in.
The bank probably won't mortgage you that much if you're on lowish salaries and haven't saved a better deposit, they'd want minimum 50k on those wages
Exactly. You have just proven that housing is over valued in relation to the only value that matters... the ability of buyers to pay for it.
Yet clearly there are plenty of buyers out there who can

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:54 pm
by nardol
Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:55 pm
by Flametop
Duff Paddy wrote:
Flametop wrote:
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
The 3 bed semi d is €435k
Take away HTB grant of 20k then it's €415k.
65k deposit means mortgage of €350k so a couple on a combined salary of 100k would be laughing. BoI will even give you 3% of your mortgage cash back to furnish it.
So stop f**king moaning!!!
3 bed semi 435k. Lets assume first timers so 10% deposit @ 43k. Help to buy will give you 20k so you need to self fund the 23k. Grand.

So conclusion is the mortgage is 392k NOT your claimed 350k.

To get a mortgage of 392k you need a salary of 112k. What jobs bring in 112k? or even two full-time 55k jobs? At what age do you get to 55k in your career? Lets hope menopause hasn't kicked in.
The bank probably won't mortgage you that much if you're on lowish salaries and haven't saved a better deposit, they'd want minimum 50k on those wages
Exactly. You have just proven that housing is over valued in relation to the only value that matters... the ability of buyers to pay for it.
Yet clearly there are plenty of buyers out there who can
There were plenty who paid lots of cash in 2006/07 also.
How did that go?

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:55 pm
by Duff Paddy
Nolanator wrote:
Duff Paddy wrote:
Nolanator wrote:
Duff Paddy wrote: both would need to be earning over 40-50k to get something in a good part of Dublin but you'd expect to be on that by your mid thirties.
:uhoh:
You will be when you realise that academia is a dead in and move into industry
That explains my situation, but there are plenty of working couples who wouldn't be on 40-50k each by their mid 30s.
Yep and they probably aren't expecting to live in one of more expensive suburbs

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:55 pm
by HighKingLeinster
Nolanator wrote:
Duff Paddy wrote:
Nolanator wrote:
Duff Paddy wrote: both would need to be earning over 40-50k to get something in a good part of Dublin but you'd expect to be on that by your mid thirties.
:uhoh:
You will be when you realise that academia is a dead in and move into industry
That explains my situation, but there are plenty of working couples who wouldn't be on 40-50k each by their mid 30s.
yeah but they are the wrong sort and end up having to buy out in the bog somewhere. thus proving that the system works

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:56 pm
by Duff Paddy
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:57 pm
by ticketlessinseattle
Conor wrote:
HighKingLeinster wrote:So glad i bought back in 2011. My gaff is now worth almost €200k more than i paid for it :smug: :smug:
This is is back as a thing now?
Get yourself to a dinner party. You will wow them.
:lol: :lol:

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:57 pm
by nardol
HighKingLeinster wrote:the 3.5x salary to mortgage seems to be bullshit at the moment. My brother and his missus are looking to move at the moment and I reckon their combined salary to be about 65-70k yet they are approved up to 350k
Not first time buyers then I take it?

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:58 pm
by Duff Paddy

There were plenty who paid lots of cash in 2006/07 also.
How did that go?
See nardol's post above, different circumstances this time round

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:58 pm
by Duff Paddy
nardol wrote:
HighKingLeinster wrote:the 3.5x salary to mortgage seems to be bullshit at the moment. My brother and his missus are looking to move at the moment and I reckon their combined salary to be about 65-70k yet they are approved up to 350k
Not first time buyers then I take it?
The could be - the banks can give a certain number of exemptions to the CB rules each year

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:59 pm
by HighKingLeinster
nardol wrote:
HighKingLeinster wrote:the 3.5x salary to mortgage seems to be bullshit at the moment. My brother and his missus are looking to move at the moment and I reckon their combined salary to be about 65-70k yet they are approved up to 350k
Not first time buyers then I take it?
nope but barely in postive equity on their current house so not like they are parlaying that into a new mortgage approval. To be honest I have no idea how they got approved for anything with 2 toddlers, no deposit and a barely positive existing property. But they did.....

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 2:59 pm
by nardol
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:00 pm
by nardol
HighKingLeinster wrote:
nardol wrote:
HighKingLeinster wrote:the 3.5x salary to mortgage seems to be bullshit at the moment. My brother and his missus are looking to move at the moment and I reckon their combined salary to be about 65-70k yet they are approved up to 350k
Not first time buyers then I take it?
nope but barely in postive equity on their current house so not like they are parlaying that into a new mortgage approval. To be honest I have no idea how they got approved for anything with 2 toddlers, no deposit and a barely positive existing property. But they did.....

Because of the 20% deposit and thus increased equity in any purchase then can loosen their strings on the 3.5 LTI a bit.

CBI doesnt punish the banks as hard for this as they do for FTB

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:00 pm
by Duff Paddy
nardol wrote:
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x
Which of those countries had a banking crisis in the past decade that nearly bankrupted the country

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:03 pm
by nardol
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x
Which of those countries had a banking crisis in the past decade that nearly bankrupted the country
None. Several had bailouts (NL BE UK). Some had no bailouts (Norway Sweden).

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:29 pm
by Blackrock Bullet
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x
Which of those countries had a banking crisis in the past decade that nearly bankrupted the country
That's hardly evidence of normality though.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:48 pm
by Liathroidigloine
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.

LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x
Which of those countries had a banking crisis in the past decade that nearly bankrupted the country
And this my friends is the reason why we have a building crisis in Ireland. Everyone is looking back at an abnormal situation that occurred for a period of about 7 years and uses that as a reason not to do anything. I was at a meeting with one of our two pillar banks recently where very senior management said that they will not lend to developers outside of the main urban areas (Dublin & Cork mentioned) due to past experience.

This despite the fact that most towns in Ireland now have a housing shortage.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 3:48 pm
by camroc1
nardol wrote:
Duff Paddy wrote:
nardol wrote:
Duff Paddy wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Wrong, they are protecting the borrower just as much as the lender.



LTI in sweden 4.5x
LTI in NL 5x
Norway 5.5x
UK varies wildly but 4.5x
Belgium 4x
Which of those countries had a banking crisis in the past decade that nearly bankrupted the country
None. Several had bailouts (NL BE UK). Some had no bailouts (Norway Sweden).
Swedens banks went bang in the 90s, and, believe it or not, it took a decade before things got back to some semblance of normality.

Our first house, which we bought thirty years ago, was a 2 bed in Booterstown that we paid the princely sum of ir£ 36,500 for. I remember a Finnish colleague of my wifes, who was visiting Dublin at the time, expressing surprise that a couple in their mid - late 20s could afford to live that close to the city centre. Folks like us in Finland were buying 30 or 40 kms out of Helsinki at the time. A few years later their property market also went bang.

We are not unique in our problems.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:01 pm
by nardol
The Swedish bailout in the 90s was about 2% of GDP if my recollection is correct. A spec in the ocean comparatively.

Duffs half mill properties he mentioned were outside the m50 just beside Tallaght.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:28 pm
by Duff Paddy
nardol wrote:The Swedish bailout in the 90s was about 2% of GDP if my recollection is correct. A spec in the ocean comparatively.

Duffs half mill properties he mentioned were outside the m50 just beside Tallaght.
Half mill :lol: trying too hard now kid

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:30 pm
by nardol
Duff Paddy wrote:
nardol wrote:The Swedish bailout in the 90s was about 2% of GDP if my recollection is correct. A spec in the ocean comparatively.

Duffs half mill properties he mentioned were outside the m50 just beside Tallaght.
Half mill :lol: trying too hard now kid
Stamp duty, solicitors fee, moving cost (reaching).

Half a mill down the drain be the time you are in methinks.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:32 pm
by anonymous_joe
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Failure rate of mortgages goes up a lot north of 3.5.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:34 pm
by Duff Paddy
nardol wrote:
Duff Paddy wrote:
nardol wrote:The Swedish bailout in the 90s was about 2% of GDP if my recollection is correct. A spec in the ocean comparatively.

Duffs half mill properties he mentioned were outside the m50 just beside Tallaght.
Half mill :lol: trying too hard now kid
Stamp duty, solicitors fee, moving cost (reaching).

Half a mill down the drain be the time you are in methinks.
Stamp duty is 1%, that's 4K odd
Conveyancing is 2k odd
Moving fees get a van from a mate

All covered by HTB rebate

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:36 pm
by nardol
You cant use the rebate twice. You have already used it for the deposit.

Actually.... you cant get the mortgage either way - the income isnt there in the first place.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:36 pm
by camroc1
anonymous_joe wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Failure rate of mortgages goes up a lot north of 3.5.
When buying our first house LTI was 2.5 + 1; had changed to 2.5 Joint with a 20 +% deposit by the time we bought our second in 1991.

We borrowed ir £60K for an ir £ 85k dump in bedsits in Ranelagh. The difference was funded on profit made from sale of first house and savings. It took us about 8 years before we had, at least, decorated every room in the house. We funded the kitchen by selling one of our cars.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:37 pm
by Duff Paddy
I can see it now, Nardol lord of Terenure, ordering another round of mimosas to go with his smashed avocado brunch, holding court in the lovely food company telling all that the government are conspiring against him owning a massive gaff in D4 or D6

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:38 pm
by Duff Paddy
nardol wrote:You cant use the rebate twice. You have already used it for the deposit.

Actually.... you cant get the mortgage either way - the income isnt there in the first place.
BoI 3% mortgage cash back so 8)

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:39 pm
by Duff Paddy
camroc1 wrote:
anonymous_joe wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Failure rate of mortgages goes up a lot north of 3.5.
When buying our first house LTI was 2.5 + 1; had changed to 2.5 Joint with a 20% deposit by the time we bought our second in 1991.
Pipe down boomer it was your generation that f**ked it for the rest of us. Did you hang on to those gaffs in Bulgaria?

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:40 pm
by nardol
Duff Paddy wrote:I can see it now, Nardol lord of Terenure, ordering another round of mimosas to go with his smashed avocado brunch, holding court in the lovely food company telling all that the government are conspiring against him owning a massive gaff in D4 or D6
I dont proclaim to be able to own a 'massive gaff' in either of those locations.

Im talking about a 3 bed semi outside the M50 next to Tallaght that requires an income of well over 100k.

Im talking about it and saying - thats too god damn much.


@ Joe: NPLs on mortgages in the countries I mentioned above are well below that of ireland an all have and have had for some time LTI's well above Irelands.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:43 pm
by nardol
Duff Paddy wrote:
camroc1 wrote:
anonymous_joe wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Failure rate of mortgages goes up a lot north of 3.5.
When buying our first house LTI was 2.5 + 1; had changed to 2.5 Joint with a 20% deposit by the time we bought our second in 1991.
Pipe down boomer it was your generation that f**ked it for the rest of us. Did you hang on to those gaffs in Bulgaria?
Cammy - do you have kids and iff so did you help them out to get on the market?

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:43 pm
by nardol
Duff Paddy wrote:
nardol wrote:You cant use the rebate twice. You have already used it for the deposit.

Actually.... you cant get the mortgage either way - the income isnt there in the first place.
BoI 3% mortgage cash back so 8)
Id rather save a few months more and not pay a shit interest rate for 30 years. These cash back offers should be illegal. 3 grand now for an extra 1% for life.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:43 pm
by Duff Paddy
@ Joe: NPLs on mortgages in the countries I mentioned above are well below that of ireland an all have and have had for some time LTI's well above Irelands.
Presumably all of these counties have functional foreclosure systems

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:44 pm
by Duff Paddy
nardol wrote:
Duff Paddy wrote:
nardol wrote:You cant use the rebate twice. You have already used it for the deposit.

Actually.... you cant get the mortgage either way - the income isnt there in the first place.
BoI 3% mortgage cash back so 8)
Id rather save a few months more and not pay a shit interest rate for 30 years.
Keep a closer eye on the mortgage rates and switch when appropriate

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 4:55 pm
by nardol
Duff Paddy wrote:
@ Joe: NPLs on mortgages in the countries I mentioned above are well below that of ireland an all have and have had for some time LTI's well above Irelands.
Presumably all of these counties have functional foreclosure systems
The Dutch sure do.
A lot of problems in Ireland could be solved with proper regulation.

Point taken on the switching though.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:00 pm
by camroc1
nardol wrote:
Duff Paddy wrote:
camroc1 wrote:
anonymous_joe wrote:
nardol wrote:Lets not kid ourselves here - the CBI has sacrificed us the consumer in its bit to prop up the banks because thats exactly what this 3.5 x LTI requirement and deposit requirement is. It improves the asset quality of the banks and sacrifices the consumer who under this significant income and cash burden is forced to rent. They ignore the cost to the consumer who is forced to pay more in rent than they would a mortgage all for the benefit of the banks asset quality.

How the fudge does a non elected flunky get to control so much power over the functioning of the state. This has a larger inpact on the people of ireland than the last 6 budgets from the govt.
Failure rate of mortgages goes up a lot north of 3.5.
When buying our first house LTI was 2.5 + 1; had changed to 2.5 Joint with a 20% deposit by the time we bought our second in 1991.
Pipe down boomer it was your generation that f**ked it for the rest of us. Did you hang on to those gaffs in Bulgaria?
Cammy - do you have kids and iff so did you help them out to get on the market?
We have one who is finishing a masters in TCD. I think he has already worked out that one kid and one parental house in Ranelagh is a good thing for him. If he needs help for a deposit otherwise, we'll work something out.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:01 pm
by Liathroidigloine
nardol wrote:
Duff Paddy wrote:
@ Joe: NPLs on mortgages in the countries I mentioned above are well below that of ireland an all have and have had for some time LTI's well above Irelands.
Presumably all of these counties have functional foreclosure systems
The Dutch sure do.
A lot of problems in Ireland could be solved with proper regulation.

Point taken on the switching though.
The Dutch are brilliant at everything

except defending themselves

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:02 pm
by nardol
camroc1 wrote: We have one who is finishing a masters in TCD. I think he has already worked out that one kid and one parental house in Ranelagh is a good thing for him. If he needs help for a deposit otherwise, we'll work something out.
Fuckin hell
Want to adopt me?
Don't want your kid actually paying inheritance tax - that would be appalling.

My parents stuff gets split 7 ways x(

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:03 pm
by camroc1
A big problem for the banks is that a lot of their non performing loans are mortgage related (NAMA took the commercial shite from them). Until they can dump them, they will not be allowed to take a more risk friendly view on mortgage lending.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:06 pm
by nardol
camroc1 wrote:A big problem for the banks is that a lot of their non performing loans are mortgage related (NAMA took the commercial shite from them). Until they can dump them, they will not be allowed to take a more risk friendly view on mortgage lending.
A non performing primary residence mortgage is an absolute disaster to end for an Irish bank.
Gorse Hill in terms if time only being slightly longer than usual.

Ending a non performing loan for an irish bank has been legislated against by irish politicians like you are trying to evict a tenant potato farmer in the 1840's.

Re: Rugby NAMA thread Revisited Rugby

Posted: Wed Jul 05, 2017 5:08 pm
by anonymous_joe
Duff Paddy wrote:
@ Joe: NPLs on mortgages in the countries I mentioned above are well below that of ireland an all have and have had for some time LTI's well above Irelands.
Presumably all of these counties have functional foreclosure systems
Bingo. Repossessing a gaff here is a nightmare. Non-recourse loans and easier repos would solve a lot of problems.