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Situation grows desperate for mortgage holders

written by Rachel_McDonald
19.01.10 Posted in Smart living 0 0

Seems like the situation is becoming more desperate for mortgage holders - the Irish Independent predicts an avalanche of repossessions as new figures show that 6400 people stopped paying their mortgages more than a year ago. These homeowners are now almost certain to have their homes repossessed, says Charlie Weston.

Now you can stay online when you are on the lineNow you can stay online when you are on the line


Mortgages

AIB and Bank of Ireland will be able to begin legal proceedings against homeowners as the moratorium agreed with the government had forced these banks to wait a year before moving on those who had failed to pay their mortgages. Any increase in interest rates could prove the tipping point for some home owners and Permanent TSB is poised to hike its standard mortgage rate by 0.5pc. Other lenders could quickly follow.

Credit cards

Halifax follows in the footsteps of MBNA. The Irish Times reports that 50,000 customers were overcharged on interest rates the lender has admitted. Customers were overcharged on average about €5 - €260,000 will have to be repaid to customers as a result of the errors, which were identified last September. It is understood that more than 90pc of Halifax’s credit card customers have been affected. Customers have been told that they will be refunded the cash on January 27. Halifax said the Financial Regulator had been contacted the day the error had been identified and that Halifax had been working closely with the Financial Regulator to resolve the issue.

Broadband

Three Ireland has unveiled a new device that allows you to share your mobile internet connection with up to three other people. The Mifi is a personal USB Wi-Fi hotspot that you can take on the move with you. It has a rechargeable battery so you aren’t tied down to a power outlet to fuel your internet access, with about four hours of life in it. It charges through USB, and you can turn wireless access on and off at the touch of a button. Meanwhile Iarnrod Eireann, the Times says, is to test a wireless internet service for passengers on its Dublin to Cork route, starting early next month. The trial will be used to establish demand and is likely to be followed by a public tender to equip much of the company’s main intercity lines with the necessary equipment to provide the service. We bet there's plenty of demand!

Digital TV

3D TV at home anyone? BSkyB (Sky) and 3ality Digital, LLC (www.3alitydigital.com), "the world's premier provider of 3D technology" have announced they are to collaborate on the launch of what will become the first 3D TV services in the UK and Ireland.  Launching in 2010, Sky's 3D TV services will use 3ality Digital's state-of-the-art camera rigs and image processors to capture much of the programming it plans to broadcast. Sky's 3D TV service will be broadcast across Sky's existing High Definition (HD) infrastructure and be available via the current generation of Sky+HD set-top boxes.  1.6 million homes are already equipped with Sky+HD.  There's a snag. No plastic cheesy glasses here. To watch 3D content, Sky+HD customers are only required to upgrade to a 3D-enabled television set, a wide range of which will begin to be retailed in 2010. No problems there then. Hello? Is that Harvey Norman? I need to haggle.

Travel


BMI, British Midland International, will this month relaunch its short haul product across all UK and Ireland flights to and from London Heathrow. The roll-out of the new product will see greater consistency and simplicity across the bmi route network on UK and Ireland flights, with the introduction of a single Economy cabin and with an enhanced service for customers travelling on Flexible Economy fares.

Customers travelling on Flexible Economy fares will benefit from no change fees, use of business lounges at both ends of the route, guaranteed seating at the front of the aircraft and complimentary food and drink onboard. The new in-flight offering will include a hot breakfast in the morning as well as healthy sandwiches and a full bar throughout the day. Flexible Economy customers will also benefit from lower rate Air Passenger Duty (APD). As a result of the changes, bmi will no longer offer a separate Business Class cabin on UK and Ireland routes.
Demand for first and business class tickets, accounting for nearly one-third of most airlines' revenues, remains weak and an improvement in November was a blip, the International Air Transport Association (IATA) said. Premium tickets are mainly bought by passengers travelling on business and such demand is correlated with world trade, so economic recovery in Asia, Latin America and some other regions could boost premium travel in the months ahead, it said. The number of passengers travelling on first or business class in November was 6.7pc lower than a year earlier, less than the 9.3 percent decline in October, IATA said in its latest premium traffic monitor, reuters.com reported this week.

 

Rachel_McDonald

Rachel McDonald lives in Dublin and, when not working, enjoys travelling, dancing and dabbling in the never-ending project of revamping her home. She counts herself lucky to have a tolerant housemate...

Rachel_McDonald
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