If you have a deposit rate and want to get the best deposit interest rate, look no further. We have access to capital guaranteed products which are more secure than deposit and also provide higher interest rates up to 12% in some cases.

If you want the best deposit from a regulated firm with capital secured we can provide this for you. Deposit interest rates are decreasing monthly and people are now looking for alternative capital guaranteed products.

You can move your money to this deposit account and access your money immediately with no fixed in period.

This is not a scam as we are regulated by the financial regulator,.

Please contact us at info @kfb.ie for further information.

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If you are a Bank of Scotland Customer, what do you do, where do you turn. Do you need advice from a former Bank of Scotland employee?
It is an uncertain time for Bank of Scotland customers right now with all of the recent news, but where do you turn and who do you talk to. If you have a loan with Bank of Scotland, if you have a current account with Bank of Scotland you may need advice as to what to do next.

Kevin Keane is a former employee of Bank of Scotland and was Lending Manager in BOSI. If you require a guide to what to do or what route to take next contact us on 091 39588 or info@kfb.ie

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€200 NPPR Tax for 2010

NPPR – Have you paid your €200 NPPR levy yet?

The deadline for payment was 31st May 2010. However there is a grace period of one month so it is still possible to pay the levy before the 30th June 2010 without incurring a penalty.

The late payment fee is €20 per month and the fee continues to roll up as long as the charge remains unpaid. Unpaid charges will remain as a charge against the property.

The local government (charges) act 2009 which introduced the charge allows for the exchange of information between the PRTB and the revenue commissioners.

The levy is payable to the local authority of the area in which the property is situated. To pay the charge, you will have to provide the address of the property, declare that you are the owner and provide your PPS number. The charge can be paid on-line at NPPR.ie

An important point to note is that even though the charge has been commonly referred to as the second home tax is applies to all Non Principle Private Residences (NPPR) with a small number of exceptions including:

Principal Private Residences

Where a person partly occupies a dwelling as his or her sole or main residence and avails of the Revenue Commissioners’ Rent-a-Room Scheme

Discretionary trusts or corporate bodies that are accorded charitable status

Where a person is moving house and, in the process, owns two houses for a relatively short period.

Joint ownership of a property after a divorce or separation agreement where the second residence becomes the primary residence of one party.

Where a person who owns a principal private residence vacates the dwelling in question because he or she is long-term incapacitated as a result of physical or mental illness

Where a residence is occupied rent-free by a relative of the owner and the owner resides on the same property or within two kilometres of .the residence in question.

Where a landlord and a Local Authority have a signed contract in place under the Rental Accommodation Scheme for a property, on the liability date i.e. 31st July 2009 and 31st March in 2010 and each subsequent year, the property is exempt from the NPPR charge.

Source Irish Landlord.com

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 As the Financial Regulator predicts a rise in mortgage rates, many homeowners are rushing to switch to a fixed rate. But this may not make the best economic sense, writes Charlie Weston

THOUSANDS of homeowners are desperately trying to lock in to fixed-rate mortgages as home-loan rates have started to surge in the past few months.

So far Permanent TSB, AIB, Bank of Ireland/ICS, EBS/Haven and KBC Homeloans have increased their standard variable for new and existing customers, with most of these lenders also hiking fixed rates.

Financial regulator Matthew Elderfield warned last week that more crippling mortgage rate rises are on the way for hard-pressed mortgage holders.

The regulator told an Oireachtas committee higher mortgage rates were an “unfortunate but inevitable consequence” of the banking crisis.

But is it always a good idea to fix? And some homeowners are finding that it is not even possible to fix.

A survey by the Irish Mortgage Corporation found that almost a third of adults are struggling to pay bills.

And the survey found that nearly a half of homeowners fear they will struggle to pay their mortgage this year if rates rise as expected.

Monthly repayments rising by more than €250 would pose a problem for mortgage holders, the survey found.

But some of those seeking to lock in to fixed rates are finding they are being blocked from fixing, being offered very uncompetitive rates, or kept in the dark by their lender on what fixed rates are available for existing customers.

Panicking

Mortgage adviser Frances O’Hanlon of FOH Mortgages & Investments in Clonmel, Co Tipperary, said homeowners were panicking about rate rises and were rushing to sign up for fixed rates.

But she warned that it did not always make sense to fix, especially if your lender only offering a very high fixed rate.

The virtual closure of the switcher market meant that homeowners were at the mercy of the mortgage lenders and are forced to accept whatever fixed rate their bank offers, especially if they are in negative equity.

“People should tread carefully, By panicking now people could end up entering in to something that will cost them dearly in the long run,” Ms O’Hanlon said.

This was especially the case with the fixed rates on offer from Permanent TSB and Bank of Scotland (Ireland) for existing customers, Ms O’Hanlon said.

“People need to ask themselves: what are you buying into and what will it cost you? You could end up paying an extra 3pc, so you need to clear about what it is costing you.”

She advised people to grab a fixed rate if it is in or around 4pc, but rates of more than 4.5pc or 5pc were hardly worth considering.

One lender that is making it difficult for those who want to fix is building society EBS. It has been accused of treating members unfairly after it emerged that it won’t publish a list of fixed rates for existing customers.

The society admitted that each application from existing customers who want to lock in to a fixed rate was assessed on a case-by-case basis.

Michael Dowling of the Independent Mortgage Advisers Federation said he dealt with an EBS customer recently who was offered a rate of 4.75pc to fix for three years, but when Mr Dowling rang the society on the client’s behalf he was offered 4.25pc.

National Irish Bank has defended its policy of refusing to allow its customers who are in negative equity to qualify for a fixed rate. This is because the bank only offers fixed rates for those whose loan represents 80pc or less than the value of the home.

A spokesman for the bank admitted that those customers on a standard variable rate, who are in negative equity, would not be able to fix their mortgage.

Homeowners who want to fix are also finding that they are being offered much higher rates than brand new customers of the lender, in an apparent snub to customer loyalty.

Among the lenders punishing existing customers with higher rates than new customers are Permanent TSB, EBS/Haven, KBC Homeloans and Bank of Ireland.

• For tips on whether or not you should fix see the National Consumer Agency‘s financial website, www.itsyourmoney.ie, and search for the word “fix”.

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Introduction

All of the country’s principal mortgage lenders, who are represented by the Irish Banking Federation (IBF), are fully committed to working with borrowers who face genuine difficulties in maintaining their mortgage repayments on their homes because of changed economic circumstances. The following information is offered as practical guidance to borrowers who find themselves in that situation.

What should you do

1. Contact your mortgage lender as soon as possible if you’re having trouble with your mortgage repayments or you are concerned that this might be likely to happen. Don’t ignore the problem -  that’s the worst thing you can do.
2. Look at your financial situation to make sure that you’re maximizing your income and draw up a budget based on your most important spending commitments. Assistance is available from MABS  or Keane Finance Brokers – see point below for contact details.
3. Respond to letters or phone calls from your mortgage lender or their legal representative. They have to keep in contact with you to see if a solution can be found for any problem you are having with repaying your mortgage.
4. If you are genuinely unable to make your mortgage repayments, ask your mortgage lender to explored with you one or more of the following options in line with the statuary Code of Conduct on Mortgage Arrears:

• Putting off for a period of time all of part of your monthly mortgage repayments in order to ease the immediate pressure on you
• Reducing your monthly mortgage repayments by extending the number of years for which your mortgage runs.
• Reducing your monthly mortgage repayment by changing the type of mortgage you have
• Tackling any arrears by reducing the amount borrowed so that they can be paid at a later date – known as ‘captalising’ the arrears and interest.

Note:    In exploring these options with you, your lender will have to take particular circumstances into account – as each situation is different. Also, any action taken to reduce your monthly mortgage repayments today is likely to add to the overall cost of your mortgage in the future. You should ensure that you understand the implications of any new arrangement discussed – if necessary by obtaining independent financial advice.

“ Don’t ignore letters or phone calls”

What your lender will do

1. Your lender must wait a minimum period of time from the time arrears first arise before starting legal proceedings in the courts to repossess  your home. This minimum period of time is 12 months for all mortgage lenders under the Code of Conduct on Mortgage Arrears.

Note:  This 12-month period does not apply where you are deliberately not engaging with your lender.

1. If, after this 12-month period, you still have the genuine difficulty in making our mortgage repayments, your lender will further assist you by trying to agree an arrangement with you – one that is acceptable to both you and the lender. Provided you maintain that arrangement, your lender will not start legal action against you and will review the arrangement with you on a regular basis after that. This commitment to you arises under the IBF Pledge to Homeowners which was published in November 2009.
2. Your lender may be able to help you to assess and manage your income and expenditure and draw up a budget to reflect your changed economic circumstances.

Help and Information

1. You may need information on managing your money and dealing with debt. You’ll find it at www.mabs.ie, the website of the independent Money Advice and Budgeting Service (MABS). If you need help, you should call the MABS Helpline 1890 283 438 (Mon-Fri, 9am to 8pm) for advice or a self-help pack.
2. Remember to contact your lender at your earliest opportunity if repayment difficulties arise. It is only through engagement with your lender that you can hope to find an arrangement that will work for everyone.

This Guide is related to the following mortgage lenders:

ACC Bank                                                             Irish Nationwide Building Society

AIB Bank                                                              KBC Bank Ireland

Bank of Ireland                                                 Leeds Building Society

Bank of Scotland (Irl)                                      National Irish Bank

EBS Building Society                                        Permanent TSB

Ulster Bank

The Irish Banking Federation (IBF) is the leading representative body for the banking and financial services sector in Ireland, representing over 70 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.

Contact info@kfb.ie or 091 395888 if you would like to discuss further.

Source Irish Banking Federation

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If you have a primary health care site or are looking for planning permission for a Primary Health care Unit, we can help you package the deal. Keane Finance Brokers have sourced finance for Primary Health Care Units in Ireland. We have the contacts and experience to get high Loan to values and low interest rates for your Medical Centres.

We work in association with other professionals such as planning consultants, 3D visualization experts, a legal team and surveyors. We are currently working on two Primary Health Care centres in the West of Ireland and are negotiating with the HSE, GP’s and Pharmacy to combine the full package for the property owners.

Primary Health Care Units or Medical Centres are the way forward in Ireland and we can make the whole process more streamlined and efficient for the developer as we have established contacts in all of the necessary fields.

If you would like further information please contact us at 091 395888 or info@kfb.ie

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If you want a simple  and easy life cover quote fast just click here

Simple life cover quote with little information required. Galway based life insurance company with a simple quotation system in place for you!

Just click here and we’ll do the rest.

Life Cover Quote easily

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 working in the house? If so, you have to protect your

income

1. Protect up to 75% of your income.
2. Premiums are guaranteed not to increase in the event of a claim.
3. Cover is guaranteed to continue until retirement, even if you have multiple claims.
4. You can claim tax relief at your marginal rate on premiums paid.
5. This is the most comprehensive income protection plan available in the Irish market.
6. When claiming, should you choose to return to work we will support you with rehabilitation and any training you need, all the while paying your claim.
7. Your premiums can be either guaranteed (will not change during the term of your plan) or reviewable (will stay constant for the first 5 years of the plan and subject to review thereafter).

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In the current economic climate that we are witnessing at present Commercial Finance is more difficult to obtain now more than ever. Many clients have properties with large amounts of equity and no borrowings, however they are unable to raise any finance on them due to the current banking crisis.

Kevin Keane of Keane Finance Brokers says “while finance is more difficult to obtain now more than ever it is still possible to obtain finance for good projects in good locations. We have a number of lenders who will look at all levels of commercial finance from €3m upwards to €500m. They do seem a bit choosier than before, but if the deal stacks up a good loan facility can be obtained”

The countries that these lending institutions cover are in Western Europe, Asia, and the United  States. However, no country is ruled out if the deal is a blue chip deal.

“Location, quality of tenant and a good lease are the 3 min ingredients for investment properties. For development lands, low LTV and location are the main criteria. However, we have had some deals recently which could possibly be financed that we would not expected to achieved any interest at all” says Keane.

Keane acknowledges that this affects people from all over the country and all walks of life – People caught up in the 2005-2006 foreign investment euphoria are as likely to be sitting beside you in mass as meeting with the big bankers in Dublin – Trapped by equity tied up, negative equity- – let’s talk

To find out more and to discuss a commercial finance requirement that you may have contact Kevin Keane of Keane Finance Brokers. They have over 10 year experience in commercial lending and are currently sourcing funding for their clients. Phone 00353 91 395888 or info@kfb.ie

www.keanefinancebrokers.com

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Did you know that if you are self employed you will not receive any cover from the State in the event of illness or injury which prevents you from working!

Very few people are aware of this and as a result are not insuring their most important asset. Their income!

Finance Broker warns small business owners in Galway about the dangers of operating without any safety netting. In a survey of business owners recently in the area, 73% were unaware of the fact that they are not entitled to any state assistance in the event of a sudden loss of income due to accident or ill health.

Kevin Keane of Keane Finance Brokers encourages all of his clients to take out this insurance cover, “people pay insurance for their cars, houses and valuables, but forget to cover the one thing that pays for all of these material goods, their income! Once income protection was shown to me I signed up straight away. I am self employed and if I was unable to work in the morning I would lose everything!”

Many people are unaware that income protection is also a tax deductible with tax relief on your marginal tax rate. This is another benefit of having cover as well as peace of mind.

“Many people take out serious illness on their lives, but the chances of getting hurt or being unable to work are greater. Income protection covers this. There is a 1 in 6 chance that an individual will be out of work for longer than 6 months due to a disability” Keane says.

If you have no income protection and are self employed you are taking a major gamble. You will not be able to get cover to pay your bills or loan repayments. This is especially true of you have a family and your spouse is not working. If your income goes you are in trouble.

Keane Finance Brokers provide income protection through Irish Life, Friends First and New Ireland. They can be contacted at 091 395888 or info@kfb.ie            www.keanefinancebrokers.com

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