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Rockcourt Financial Services Ltd
Experts in Public & Private Sector Pensions, Mortgages, Investment & Savings, Overseas Pensions and Income Protection
The vacant home tax was introduced last year and applies to any properties that can be lived in but have been stayed in for fewer than 30 days in the previous 12 months. It aims to increase the number of houses available for buyers and renters and alleviate the current housing shortage. However, it seems the tax is costing more to administer than it is taking in, as only a very small proportion of eligible properties are actually being taxed. For the tax to achieve what it was set up to do, the vacant home register will have to be extensively reviewed and updated.![]()
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📱086 0445509 ☎0949638533 📧office@rockcourt.ie
Since 2006, there has been talk of introducing an auto-enrolment (AE) pension, but only this week has the Cabinet finally signed off on legislation. The government hopes to have the scheme up and running by January 1st 2025. ![]()
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Upon commencement, those aged between 23 and 60 years old, making more than €20,000 annually, and not contributing to a pension already will be enrolled. The system involves contributions from the employee, employer, and state. Contributions start at 1.5% for the employee and employer, and 0.5% from the state, but will rise to 6% for both the employee and employer, and 2% from the state. ![]()
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The scheme aims to ensure that all individuals are better prepared for life post-retirement; however, it will not be introduced without raising concerns and fears. Many employers feel it comes at a time when they are already struggling to meet costs such as the rising minimum wage and sick pay entitlements, while others fear it will affect the value of the state pension in the future.![]()
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Contact us at Rockcourt Financial Services with all your pension queries. ![]()
📱086 0445509 ☎0949638533 📧office@rockcourt.ie
This week witnessed the reinstatement of excise duty, resulting in a rise in petrol and diesel prices nationwide. Additionally, several broadband and streaming service providers, including Eir and Sky, announced significant increases in their charges. These added expenses exacerbate the already burdensome everyday costs for many individuals, contributing to a decline in consumer sentiment.![]()
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Consumer sentiment refers to the collective optimism or pessimism that consumers feel regarding their financial situations and the overall economy. In March, consumer sentiment plummeted to 69.5, and with the mentioned price hikes, it is anticipated to decline further in April.![]()
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Contact us at Rockcourt Financial Services ![]()
📱086 0445509 ☎0949638533 📧office@rockcourt.ie
Recent research conducted by Switcher.ie revealed that, on average, it takes approximately 4.6 years to save for a mortgage deposit, taking into account factors such as average annual earnings, house prices, and household savings rates. The study identified Leitrim, Longford, and Roscommon as the most affordable locations for first-time buyers, while Dun Laoghaire emerged as the least affordable, with a potential deposit-saving timeline of nearly 28 years.![]()
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The current cost of living presents significant financial challenges for aspiring homeowners. However, despite these obstacles, obtaining a mortgage remains a feasible goal with the right financial planning and strategy.![]()
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Contact us at Rockcourt Financial Services with all your mortgage questions and queries. 📱086 0445509 ☎0949638533 📧office@rockcourt.ie
The latest data from the Central Bank of Ireland reveals that the average mortgage rate in Ireland increased slightly in January, to 4.27%. Compared to other European Union countries, Ireland currently ranks seventh highest in terms of average mortgage interest rates, with the other twenty Eurozone countries averaging a rate of 3.96%.![]()
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Despite hopes among mortgage seekers for potential rate decreases in the near future, recent findings suggest that this may not be on the cards.![]()
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For information on mortgages contact us at Rockcourt Financial Services ![]()
📱086 0445509 ☎0949638533 📧office@rockcourt.ie