Menu
05/08/2003
SDLP claim home owners would be better off in Euro
On the day leading UK bank Halifax claimed the UK housing market is strong with house prices increasing, the SDLP have said that joining the Euro will deliver a better deal for home-buyers.
The party's housing spokesperson, Eamonn O'Neill said that although interest rates have fallen to their lowest levels in nearly 50 years, home owners in Northern Ireland were still paying more than residents in the Republic's border counties.
He added: "Following the cut in rates announced last month, the base rate is now 3.5% here. While this is undoubtedly to be welcomed and has made borrowing more affordable, we cannot but envy the 2% base rate applying to our neighbours from as close by as Monaghan.
"According to pro-Euro lobby groups, this means that on a monthly mortgage of £500 with 25 years to run, a borrower would be saving around £80 per month.
"At a time when house prices have rocketed and first-time buyers are finding it particularly difficult to find an affordable home, this is yet another good reason to join the Euro, using co-operation at international level to deliver a better quality of life her at home."
Today's figures from Halifax revealed that the bank found that prices rose by 1.3% last month, and over the past three months house prices have risen by 3.4% – in line with the 3.4% increase during the preceding quarter.
(MB)
The party's housing spokesperson, Eamonn O'Neill said that although interest rates have fallen to their lowest levels in nearly 50 years, home owners in Northern Ireland were still paying more than residents in the Republic's border counties.
He added: "Following the cut in rates announced last month, the base rate is now 3.5% here. While this is undoubtedly to be welcomed and has made borrowing more affordable, we cannot but envy the 2% base rate applying to our neighbours from as close by as Monaghan.
"According to pro-Euro lobby groups, this means that on a monthly mortgage of £500 with 25 years to run, a borrower would be saving around £80 per month.
"At a time when house prices have rocketed and first-time buyers are finding it particularly difficult to find an affordable home, this is yet another good reason to join the Euro, using co-operation at international level to deliver a better quality of life her at home."
Today's figures from Halifax revealed that the bank found that prices rose by 1.3% last month, and over the past three months house prices have risen by 3.4% – in line with the 3.4% increase during the preceding quarter.
(MB)
Related Northern Ireland News Stories
Click here for the latest headlines.
02 February 2016
Council Approves District Rates Increase Of 1.48%
A below inflation district rates increase of 1.48% has been approved by the Belfast City Council. The move is the first rise in four years. With inflation forecast at 1.7% according to the Treasury, the increase is less than the regional rate set by the Northern Ireland Executive which is in line with inflation (1.7%).
Council Approves District Rates Increase Of 1.48%
A below inflation district rates increase of 1.48% has been approved by the Belfast City Council. The move is the first rise in four years. With inflation forecast at 1.7% according to the Treasury, the increase is less than the regional rate set by the Northern Ireland Executive which is in line with inflation (1.7%).
24 July 2006
Man remanded over explosives find
A 23-year-old man has appeared at Belfast Magistrates Court charged with possessing explosives with intent to endanger life. Jackie Johnston, with an address at Dismas House Hostel on the Ormeau Road, was also charged with possessing ammunition with intent.
Man remanded over explosives find
A 23-year-old man has appeared at Belfast Magistrates Court charged with possessing explosives with intent to endanger life. Jackie Johnston, with an address at Dismas House Hostel on the Ormeau Road, was also charged with possessing ammunition with intent.
06 August 2012
Care Home Strike Enters Second Month
Staff at one of Northern Ireland's main children's care homes are striking for a second month over a new shift pattern. 13 night shift supervisors at Lakewood Regional Secure Centre in Bangor said the new rota requires staff to work fewer hours per shift and come in on an extra 36 days per year.
Care Home Strike Enters Second Month
Staff at one of Northern Ireland's main children's care homes are striking for a second month over a new shift pattern. 13 night shift supervisors at Lakewood Regional Secure Centre in Bangor said the new rota requires staff to work fewer hours per shift and come in on an extra 36 days per year.
04 July 2024
Man Extradited To Romania To Serve Jail Sentence
A 33-year-old man has been extradited from Northern Ireland to Romania, where he wanted to serve a six-year and four month prison sentence for aggravated theft. The man was arrested by local police on Ballymena on 27 November 2019 and extradition proceedings were completed on Wednesday, 03 JUly with his successful extradition to Romania.
Man Extradited To Romania To Serve Jail Sentence
A 33-year-old man has been extradited from Northern Ireland to Romania, where he wanted to serve a six-year and four month prison sentence for aggravated theft. The man was arrested by local police on Ballymena on 27 November 2019 and extradition proceedings were completed on Wednesday, 03 JUly with his successful extradition to Romania.
04 March 2020
22 Year-Old In Court Over August Burglary
Police have charged a 22 year-old man following a burglary in south Belfast last August. The suspect was due to appear at Belfast Magistrates Court today, Wednesday 04 March, charged with burglary with intent to steal.
22 Year-Old In Court Over August Burglary
Police have charged a 22 year-old man following a burglary in south Belfast last August. The suspect was due to appear at Belfast Magistrates Court today, Wednesday 04 March, charged with burglary with intent to steal.
-
Northern Ireland WeatherToday:A chilly start with a widespread frost and some freezing fog, any freezing fog slow to clear. Otherwise bright with sunny spells and coastal showers. Light winds. Maximum temperature 6 °C.Tonight:Coastal showers dying out with a widespread frost developing along with freezing fog, which could become extensive. Winds remaining light. Minimum temperature -3 °C.
