Monday 27 February 2017

Home thoughts

•If anyone goes for the proposal by Finance Minister Michael Noonan regarding their mortgage, they would want to be astray in the head.

Imagine giving up ownership, after possibly paying a mortgage for five, 10 or 15 years, to become a tenant in your home. What happens if you ever want to move? You have no asset to sell. The banks would never give you another mortgage. You are doomed.

When I got married 40 years ago, we obtained a corporation loan and it was fantastic. The criteria to obtain this loan was that my husband's wages had to be a certain amount. If he was above this amount we wouldn't have been eligible and we would have applied for a normal bank loan.

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