Irish Variable Mortgage Rates Double EU Average

by Frank O’Rourke

mortgage_rates

Despite numerous Government pledges to tackle the issue of high variable mortgage rates, variable rates here are still nearly double the Euro area average, according to local Fianna Fail Deputy, Frank O’Rourke.

“According to the recent Central Bank figures, the average interest rate on new mortgages in September of this year stood at 3.31%; this is nearly double the equivalent rate across the Euro area, which stood at 1.86%.”

“Mortgage rates in Ireland remain dramatically out of line with rates charged elsewhere in Europe, and we must ensure that this is addressed. We have pressed for the extension of mortgage relief for those who bought their home during the peak of the boom, however, we must now focus on the variable rate that is being charged by Irish banks. ”

“This means that a borrower with a mortgage of €200,000 is paying around €250 per month more than they would be paying in the average Euro area country.”

“In May 2016, a Fianna Fáil Bill designed to give the Central Bank powers to tackle excessive variable mortgage rates passed second stage in the Dáil. The progress of the Bill through the legislative process has been tortuous and painfully slow. Despite not opposing the Bill at second stage, it is abundantly clear the Government does not want the Bill to become law. We will continue to press for this Bill to be passed.”

“Putting €250 per month back into families will help the local economy, bring down the cost of living and ease wage inflation pressure. I see again this weekend that Fine Gael are trying to make a priority of reducing the top rate of tax, as opposed to focusing on the cost of living for people. Focus on reducing the cost of living will bring a multitudes of benefits to our local economy and hard pressed families that have mortgages,” concluded Deputy O’Rourke.

Election Success for Fianna Fáil in Kildare North

leinster leader fianna fail election resultFianna Fáil has gained 2 seats in Kildare North in the recent general election. Both candidates James Lawless and Frank O’Rourke were successful in their bid to win seats in Dáil Éireann in the election on 26th February 2016. Both candidates polled a remarkable 7,461 and 6,341 first preference votes respectively ensuring that Fianna Fáil is now the largest party in Kildare North at both council and national level. The result from neighbouring constituency Kildare South proved equally impressive as Sean Ó Fearghail and Fiona O’Loughlin were both elected also. The full results from Kildare North can be viewed here.

Cllr Frank O’Rourke Welcomes Jobs Boost for Celbridge

Frank O'Rourke celbridgeSpeaking about the new jobs investment for Celbridge, Cllr Frank O’Rourke stated that “it is great news for Celbridge and Kildare with 250 New Jobs been delivered by Rye River Brewery. 150 of these will be permanent jobs with another 100 created during construction work. Congrats to Niall, Alan, Tom and all involved with this wonderful announcement. I am delighted to have engaged with Rye River and worked along side them to make sure the jobs stayed in Kildare after they announced that they were moving from Kilcock. They had offers to attract them away from Kildare.”

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FF Complete Party Ticket for General Election

Cllr Frank O'Rourke

Cllr Frank O’Rourke

Cllr James Lawless

Cllr James Lawless

Fianna Fáil have completed the party ticket for the general election in Kildare North. The party’s national constituencies committee recommended the addition of Cllr. Frank O’Rourke of Celbridge onto the party ticket last Friday. A party convention had previously selected Cllr. James Lawless to contest the general election at a vote of party members last March and Cllr. O’Rourke will now join Cllr. Lawless on the party ticket. A party spokesman said the ticket was well balanced with two strong candidates selected. Both candidates had topped the poll in their respective areas in the local elections in 2014.​

Fianna Fáil Make Big Election Gains in Kildare

Fianna Fáil won 12 seats to Kildare County Council which is the largest seats total ever for the party in the county. This also places it with 30% of the seats making it the largest party in the council chamber. The party’s candidates are delighted with the result and have thanked voters and campaign supporters for the result at the polls on May 23rd.

Of the 14 candidates the party did run in Kildare, 2 unfortunately were not successful: Gráinne Whelan in the Celbridge-Leixlip district and Ben Doyle in the Maynooth district, however, this wasn’t for a lack of effort as both candidates put a lot of work in to their campaigns.

In 4 of the 5 districts in the county, Fianna Fáil topped the poll. These were Athy, Kildare-Newbridge, Naas and Celbridge-Leixlip. With such a strong mandate, the party’s candidates look forward to working together on the council and the challenges facing Kildare over the next 5 years.

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