Moneycare Blog

Getting the most for your savings

IRISH LIFE GIVING AWAY €1,000,000 IN FREE LIFE COVER PREMIUMS

Irish Life are offering FREE LIFE COVER in the form of cash back for every new protection plan taken out between now and the 27th April.

This is a limited offer and application must be submitted between now and the 2nd March 2011.

How does it work?

If your plan is issued between now and the 27th April you then pay 2 months premiums, Irish Life will then refund you the 2 months premiums by cheque.

Remember that Moneycare can then get you the cheapest premium quote by price matching to the least expensive life cover. Great value for money over all and the customer wins twice!

DEPOSIT RATES v AGAINST RENTS

This is just an example as to how cheap house prices are currently. Take a house in Beechgrove in Monaghan where the average sale price has now been reduced to €85,000.

The average rent on same is €6,000 per annum. That represents a gross return on your investment of 7.05% per annum. The current Sunday Times report indicates that house price will  show at the most a very marginal reduction in value in 2012 and will remain flat in 2013. Deposit rates at best on a 1 year fixed are 4.00% AER gross for 1 year. Furthermore there will be no tax relief for first time buyers from 2013 on. The question really is do you wait or do you go and buy now. There is very little in it in the 1st time market. Mortgage interest rates are on variable of 3.85% . If you are will able and ready to buy what you really want, my advise is on these prices for 1st time buyers is to go for it. At some stage over the next 2/3 years there will be a sharp incline in pricing so why not go for it.