Examination: Defected flats purchased by cash buyers, largely international investors, out of reach for first-time buyers
First-time home buyers are being sidelined by cash buyers, primarily offshore investors, when it comes to apartments with faults, from negligible issues to perilous flaws. This is because banks are reluctant to offer loans for these properties.
A recent probe has discovered that buyers approved for mortgage loans struggle to acquire pre-owned apartments in need of renovation, with some needing just updated fire alarms, as banks hesitate to lend due to inconsistencies around a scheme by the Government for rectification.
Deep-Dive: ‘An injustice’: The exclusion of first-time home buyers
Latest Updates from Ireland
– Transgender and non-binary individuals to hold onto special protections under streamlined hate crime Bill: The Department of Justice has confirmed that the abridged hate crime Bill will continue upholding dedicated protections for transgender and non-binary individuals.
– Reduction in Dublin’s public transport travel time by 20% post traffic amendments, says Lord Mayor: Public transport commute durations have been decreased by over 20% along Dublin city’s piers, declared the Lord Mayor on Tuesday.
– Irish woman suffers severe injuries as dress ignites at a wedding ceremony in Spain: Consular assistance is being offered to an Irish woman, who sustained severe injuries when her dress accidentally set ablaze at a friend’s wedding in Spain, stated the Department of Foreign Affairs.
– More accurate and timely weather predictions due to Met Éireann’s cutting-edge supercomputer: Met Éireann’s weather predictions’ precision and promptness have improved, courtesy of a newly acquired supercomputer.
– Weather update: Rain showers in Munster and south Leinster are likely to spread across Leinster during the morning and afternoon, extending into east Ulster by evening, where the downpour could be intense. Connacht and the majority of Ulster should expect dry weather with sunny intervals. Maximum temperatures will range between 11 to 14 degrees. Tonight, Leinster and Ulster may witness heavy rainfall, particularly close to the coastline, while Connacht and Munster will mostly experience clear periods in the west and southwest with minimum temperatures expected to be between 4 to 9 degrees.
Initial Home Buyers
Securing a mortgage, gathering the deposit, and combatting rivals in a bid: securing your initial residence is somewhat comparable to the Hunger Games. These activities, which include hunting for a property and contending with others to secure the desired outcome, consume a great deal of mental energy.
Culture
Niamh O’Sullivan confesses her absolute devotion to singing and couldn’t envisage doing anything else. Niamh, a mezzo-soprano from Cork, finds satisfaction in being part of the choir that lends richer voices than a soprano.
Opinion
Business
The complexities of Irish health insurance have escalated too far, causing confusion among consumers, says the industry watchdog. The increasing intricacy does not favour consumers’ best interests and results in individuals paying more than necessary for their insurance, the sector’s overseer has cautioned.
Sports
Conor Mckenna sets his sights on becoming the second person to secure victory in the Sam Maguire and AFL Premiership. The image of Conor Mckenna casually arriving at Eglish St Patrick’s home turf during match days still lingers in Brian Murtagh’s mind.
World
In a conflict intensification with Israel, Hizbullah in Lebanon fired a rocket targeting the Mossad headquarters near Tel Aviv. According to the group, the Mossad was responsible for the assassination of their leaders and the destruction of their communication tools, such as pagers and walkie-talkies.