Saturday, 20th December 2014
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Wednesday, 29th January 2014

Does my Mortgage

Protection Policy cover mortgage arrears?

A study of the Central Bank's most recent quarterly arrears report, which looked at the growing arrears on the 100,000+ Irish homeowners in difficulty, has found that many of these families are also significantly underinsured as a result. This is because when the mortgage repayments fall behind, not only do homeowners fall into arrears, but their Mortgage Protection cover also becomes insufficient. These homeowners will inevitably find that a substantial proportion of their mortgage debt will remain outstanding should either party die unexpectedly and the mortgage policy pays out. This may come as a shock to a surviving spouse or partner at a time when they can least afford it, as the standard Mortgage Protection policy used in Ireland simply doesn't allow for arrears, particularly at the current scale.

When homeowners take out a mortgage

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Wednesday, 29th January 2014

Bibby Financial Services, the world's largest independent invoice finance company that provides €1billion funding to over 7,000 SMEs globally, has launched a new €60 million fund for small and medium-sized Irish businesses.

The fund, open to Waterford-based companies, is aimed at Irish SMEs that need to generate cash flow to sustain or grow their businesses.

Bibby Financial Services Ireland (BFSI) supports SMEs by giving them access to cash tied up in invoices through invoice financing.

'Like all SMEs, our clients sell goods and services and many under their credit terms have a 60 or 90 day wait for payment. With day-to-day operating costs and staff salaries to pay, this arrangement is sometimes unsustainable for Irish SMEs. BFSI offer an alternative and more flexible source of finance called invoice finance where we buy those invoices, generating cash for the business,' said Ronan Horgan, newly

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Wednesday, 29th January 2014

Farmland Prices Stable But Sales Up Last Year – Finds Ganly Walters In New National Survey

Although the national trend in agricultural land values seems to have stayed steady, the number of land sales is well up. The price of Irish farmland last year was almost exactly the same as that for the previous year, finds leading estate agents Ganly Walters in a new national annual survey. In its national survey on agricultural land prices, carried out annually by Ganly Walters and published this month, it was found that the average price paid for

agricultural land across the entire country in 2013 was €10,500 per acre. In 2012 it was €10,586 per acre.

"This is a remarkably similar figure to that paid in 2012, so small a decrease overall nationally at just €86 per acre as to be totally insignificant", says Robert Ganly,

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Wednesday, 29th January 2014

Irish League Of Credit Unions Launch Results Of December 2013 'what's Left' Tracker

The Irish League of Credit Unions (ILCU) has published the final 'What's Left' tracker 'of 2013. The research, which has been running since the April 2011, now enters its fourth year.

Since its inception in 2011, the tracker has followed how ordinary people around the country have been impacted by austerity and recession and through the research, we have seen the huge impact the shift in the economy has had on family finances, resulting for some, in a day to day struggle to make ends meet.

Over the past six months the tracker research has revealed more positivity among the population and in terms of personal finances we are perhaps seeing the beginning of recovery or maybe simply that people, having adapted to the prevailing economic conditions, are more able

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Wednesday, 22nd January 2014

What is ESMA?

John Smiles

Qualified Financial Advisor

The European Securities and Markets Authority [ESMA] is an independent EU Authority that contributes to safeguarding the stability of the European Union's financial system by ensuring the integrity, transparency, efficiency and orderly functioning of securities markets, as well as enhancing investor protection.

A security is a collective term for stocks, bonds, collective investment schemes and other investment products. ESMA fosters supervisory convergence both amongst securities regulators and across financial sectors by working closely with the other European Supervisory Authorities competent in the field of banking (EBA), and insurance and occupational pensions (EIOPA).

ESMA's work on securities legislation contributes to the development of a single rule book in Europe. This serves two purposes:

- It ensures the consistent treatment of investors across the European Union, enabling an adequate level of protection of investors through effective regulation and supervision.

- It

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Wednesday, 22nd January 2014

Minister Jan O'Sullivan allocated €38.4m to local authorities for a range of private housing grants in 2014. The increased funding supports home adaptations for older people, people with a disability and people with mobility issues.

Commenting on the allocation the Minister said, "last year the budget allocation for these grants was €34.2m. I am pleased to be in a position to increase that funding by 11% in 2014 to €38m. Every local authority has increased funding for grants compared to the initial allocation in 2013. Last year these grants assisted 7011 households and this year I expect that some 7800 households will benefit from the schemes."

The Minister also stated that in line with practice in 2013 she expects to be in a position to make an additional allocation to these grants later in 2014. "Through the careful management of my Department's

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Wednesday, 22nd January 2014

High profile office premises sold successfully

- 69 THE QUAY & 1-2 BARRONSTRAND STREET, WATERFORD

Recently sold by Sherry FitzGerald John Rohan is the property at 69, The Quay & 1-2 Barronstrand Street, Waterford. This fine modern office premises in the heart of Waterford city's shopping district occupies a pivotal trading position at the junction of Barronstrand Street and Meagher's Quay and has dual frontage. The property is well known to locals as previously accommodating Halifax and prior to that Irish Life. The high profile trading site is the main pedestrian thoroughfare between The Quays through to Michael Street.

The property comprises accommodation approximately 356 sq m (3,3832 sq ft) over four floors plus a basement. The unit benefits from a high level of fit-out and is suitable for a variety of uses, subject to the necessary planning permissions. The premises had been

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Wednesday, 15th January 2014

John Smiles

Qualified Financial Advisor

What are the investment trends for 2014?

Global equities are currently near all-time highs and we are likely to see some weakness emerging. Initially, in the Emerging Markets but later in the USA as a change in US monetary policy continues and as US interest rates begin to rise. Volatility is likely to return to world stock markets due to subdued economic growth and the divergent monetary policy stances being taken by global central banks. With slow growth, merger and acquisitions activity are likely to be the main drivers of growth.

Eurozone equities have lagged behind other stock markets and are likely to show some growth. The specific sectors that might over-perform are Insurers and Banks which are likely to benefit from rising yields and an improving economic outlook. Stable dividend payers, particularly in the Energy and Technology sectors

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Wednesday, 15th January 2014

The Irish Property Owners Association (IPOA) has expressed concern about the call for a rent cap on private rentals by Minister for Housing Jan O'Sullivan.

The Minister suggested that private rents should be pegged legislatively to the cost of living and that the private rental sector in Ireland was disorganised, unlike some other EU countries. But the suggestion was criticised by the IPOA. "Minister O'Sullivan appears to accept that Ireland is not like other countries in regard to the culture of renting, but she still would like to put a legislative noose on the free market,” said IPOA Chairman, Stephen Faughnan. "She drew a comparison with a number of countries, including Germany and France, which she said had an organised private rental sector. But the reality is that in Germany and France, taxation policies on rental income are much more benign

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Wednesday, 15th January 2014

Coveru.ie Holiday Insurance is a website based product that will revolutionise the way credit unions in the Republic of Ireland offer travel insurance. It offers members greater accessibility, great value and most importantly excellent cover providing peace of mind when travelling abroad.

Coveru.ie holiday Insurance which is being offered in conjunction with AIG Europe, offers comprehensive worldwide travel insurance, available on an individual, couple, group or family basis. Apart from offering great value, advantages of coveru.ie travel insurance include:

- Single Trip, Annual Multi Trip and Extended Stay options available

- Choice of 3 levels of cover to suit all budgets (Budget, Premier & Premier Plus)

- Up to 4 children (under 18 years of age) go FREE on a family policy

- Medical and Emergency Assistance cover when abroad

- Trip cancellation and baggage cover included

- Additional add on options to tailor cover to suit

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Letters to the Editor

  • Lessons to be learned

    Our ViewThere are certain events that when they happen make you stop and think and question what sort of society we are living in. The death of homeless man, Jonathan Corrie, just yards from the Dail last week was one of those events. Jonathan had been homeless for years on the streets of Dublin, a person who was beset by addictions as well as a determination to live his life how he wanted to live it. He regularly came into contact with homeless outreach charities who work in the area but it was clear tha …

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