Department of Finance

[REVIP]

Won't that be the tail end of them? I would have thought the majority of people got in at the start, which mature in April of this year?

adam

I heard one fund manager on the radio suggesting that something like 60% of the SSIAs with his firm would mature in the final month of the scheme.

Maybe the best strategy at the end would be to take your cash and buy up equities at artificially depressed prices.

[Macy]

Maybe the best strategy at the end would be to take your cash and buy up equities at artificially depressed prices.

No go on holiday, buy a car and vote FF. That's the reasoning behind the scheme isn't it?

[A face]

No go on holiday, buy a car and vote FF. That's the reasoning behind the scheme isn't it?

Pretty much ..... everything is rosey in the garden, carefree Ireland of today !!

[higgins]

Yes I think read that 50% of the SSIA were dont in the last few months but you can get a month by month breakdown somewhere on the web, I forget where.

I guess it wont stop until the bank begin to refuse people the credit they need to make that puchase ??? How far will the banks go?... They are lending people more and more year on year and as its silly money at this stage for a house (ie 10 times your salary etc) then people just take what they can get.

I dont think many people buy a house now with a view to paying it all off. Its more of a money making exercise with a one step on the ladder attitude and so on. When you think the average person on the average wage buying an average house in dublin needs to work 6 or 7 years (is it about that?) without spending a cent on anything else just to buy a house you would wonder who actually stops to think now?

If the banks give the credit then buyers will keep going in my opinion until its no longer financially possible.

[A face]

If the banks give the credit then buyers will keep going in my opinion until its no longer financially possible.

Banks have no problem reanting your property back to you when you cant keep up, its happening more and more now !!

FF are doing nothing about it.

[pete]

If the banks give the credit then buyers will keep going in my opinion until its no longer financially possible.

If definitely seems have chenged in last 3 years. Some banks were still sticking to the multiples of salary qualifier but thats gone out the window now in favour of percentage of income. Banks don't care too much about people renegating on payments as can take back the property which again isn't a problem unless big drop in property values.

[Bald Student]

I was a poor student at the time they opened and like all my friends I opened mine at the end to get one less year of poor student donations and one extra year of donations at the top ammount.

[higgins]

I dont think its in the best interest of the banks to lend crazy amounts just because they can take the house back?

As mentioned a drop in house values then the houses they have are not worth as much but I suppose they have then insured against the value they gave the buyer at the time? They make the money off the interest on the loan, they want you to have this loan as long as possible which is why they try make it realistic for you to pay back.

They are also already up at the 35 year long mortgages now so cant really push that further either.