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Rip off Ireland dead?

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    #242
    K-9
    Registered Users Posts: 43,311 ✭✭✭✭K-9


    g32 wrote: »


    - Commercial rates have been reduced.

    - VAT has been reduced.

    What links do you have on commercial rates being reduced?

    VAT was reduced by a whole 0.5%, bringing it back to the same level it was before it was increased.

    Mad Men's Don Draper : What you call love was invented by guys like me, to sell nylons.



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    #243
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    g32, put up or shut up, prove rates in your local shops have been reduced, prove rents have been reduced, prove you are not being paid more than your counterparts in other countries, your examples are without merit, at the moment you are clogging up this discussion with inaccuracies. You are making bold statements, post your proof or forever hold your peace because we are all spending too much time highlighting your lack of understanding rather than discussing the topic.


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    #244
    ScouseMouse
    Closed Accounts Posts: 5,070 ✭✭✭ScouseMouse


    davo10 wrote: »
    g32, put up or shut up, prove rates in your local shops have been reduced, prove rents have been reduced, prove you are not being paid more than your counterparts in other countries, your examples are without merit, at the moment you are clogging up this discussion with inaccuracies. You are making bold statements, post your proof or forever hold your peace because we are all spending too much time highlighting your lack of understanding rather than discussing the topic.

    The rates on my shop, which is in South Dublin County Council area, have been reduced.

    They went from 655 euro per month to 640 euro per month.

    The mortgage (freehold), has gone down 20% but sales have crashed by 40%

    So things are worse than ever and prices may have to go up to hit break even never mind make a profit.

    THE ABSOLUTE OPPOSITE TO WHAT PEOPLE EXPECT !


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    #245
    davo10
    Closed Accounts Posts: 6,926 ✭✭✭davo10


    superscouse do you mind me asking how you got a commercial mortgage which is usually linked to the prime lending rate (increased recently) rather than the ECB to decrease by 20%, what lender are you with?, I'd like to change.


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    #246
    ScouseMouse
    Closed Accounts Posts: 5,070 ✭✭✭ScouseMouse


    davo10 wrote: »
    superscouse do you mind me asking how you got a commercial mortgage which is usually linked to the prime lending rate (increased recently) rather than the ECB to decrease by 20%, what lender are you with?, I'd like to change.

    Forget it, it cannot be done right now. Three years ago, banks were throwing money at me. The banks aint lending now unless you have great equity. ( HAHA CHANCE WOULD BE A FINE THING !)

    Commercial lending is a kind of tracker.
    It can/does track the interbank lending rate (Euribor)
    Then the bank adds its profit margin. So lending rate + bank margin = monthly repayment.

    So in a similar way to the ECB rate crashing which is great news for residential tracker mortgages, my rate - the Eurobor crashed in the same way. Hence, my payments crashed.

    This would be great news in ordinary times, but we are not in those times. People are not out, people are not spending, so sales crashed as well.

    Sales crashing = less turnover so less profit. Pressure to lower prices is immense but can only be done so much. This makes it worse.


    This cancels out any good from the lower mortgage payments
    Do a google on euribor 3 month and you will see what I mean.


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