Even though the RBS group has been bailed out by the tax payer to the sum of 60 million pounds, it seems they can offer cheaper mortgages to those in the Irish Republic. In fact for first time buyers you could be paying less than half the interest than should you be a first time buyer in the UK.
As far as repairing the reputation to the banking system as far as the UK consumer is concerned this must be very alarming.  The Times did not hold back, with a headline that states There Is No Excuse For  Irish Mortgage Farce, it clearly states that public money is being squandered and focuses on the “sheer discrepancies”.

Of course there are 2 ways to look at the issue. If Irish mortgages are going raise the bottom line profits or should we say reduce the losses, then any profitable business transaction should be good for the taxpayer. What the article does not consider is the interest rates and deals being delivered by the competition. In better words these Irish Mortgage deals may be driven by the market, not over enthusiastic leaders on banks, it is mentioned but not investigated.
What is true though, is the ability to offer these fantastic deals within a similar market place. How can it be done in Ireland but not here in the UK, with so many government guarantees?  There are arguments that even with the international slow down hitting cities like Dublin; the financial risk is not as great in Ireland than back in the UK. Let’s see how the consumer and banks react.

When we decided the name Mortgagebam, we had no idea it would sound similar to another big name that was around many years ago. The name we are talking about is BAM, which was short for Barclays American Mortgage, of which by accident we found an old article dated back to 1995 when the operation was ton be sold because it was losing money.
It just shows you how old the internet really is now, when we are finding 13 year old articles related to financial and mortgage issues. It just shows that some mortgage organisation had their troubles well before this current credit crunch.

Right through recent history we have been on a rollercoaster ride, when things have been good and things not so good. It is a lesson to remember that what we take for granted today may not be around tomorrow, but also that even during the bad times, it is amazing how quickly things can turn around. The petrol price situation this year is an example. Oil prices are lower than what they were before that crisis began. We now have a situation where mortgages are now becoming very cheap also, if you accepted to have one.

Mortgagebam is putting together a mortgage lead generation system for those in the market, to try and stimulate business also. So with a bit of luck and the media not picking and choosing which sound bite to use, we may find things improving quicker than we thought. Maybe this is too optimistic, but someone has to be.

Unless you have been living in Mars recently you can’t have missed the finacial crisis that has sweeped the world that originated from the USA. Just it was annoced that  a Loan Modification Programme may be introduced to help mortgage owners within the USA.

As we all know, what happens across the pond will then influence what occurs back here in teh UK and across the world, so it is worth keeping an eye on USA news and events. Here is a taster from the Associtaed Press.

Thee link is here http://uk.youtube.com/watch?v=gvViLx2qDGg