Ireland’s Guide To Money And Living

Consumer watch

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Writing in the Irish Times this week, Fiona Reddan writes that parents might be taking on more debt than is wise.

These days, parents are looking after their offspring for longer periods of time, what with the high cost of renting, securing a mortgage, childcare and other factors.

There are, however, a number of economic factors parents should be aware of, such as the risks associated with going guarantor on a mortgage, and tax liabilities associated with monetary gifts.

In other news, a survey carried out by the Irish Mortgage Holders’ Organisation has ranked AIB as the institution most likely to provide borrowers with a deal on their mortgage, with Bank of Ireland coming in bottom of the list, due to the fact that it doesn’t write off residual debts in cases where homes are either sold or surrendered.

 

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When not writing about all things personal finance, You & Your Money's editor Conor Forrest enjoys reading, football and getting lost in an ocean of Wikipedia articles.
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