Whatwatercharges,ifany, applytoourholidayhome?
QAQQbill.tyson@mailonsunday.ie
twitter@billtyson8 My family owns a holiday home in the west. Will we have to pay water charges on it now that the standing charge is abolished as we use it very little? If so, how much will it be? Holiday homes are not included in the removal of the standing charge. Environment Minister Phil Hogan’s words were: ‘A minimum charge may be applied to properties that are not permanently occupied – e.g. holiday homes.’ We don’t know yet how much that will be. I received an offer from KBC of 4.5% interest on my regular savings account if I open a current account with the bank. What’s the catch? Is this account any good? That’s a really good interest rate. If you look at our Best Buys section at the bottom of the page, you’ll see that it’s around twice the top deposit rates for lump sum savings. However, it only applies to regular savings, so you can salt away up to €1,000 per month up to a maximum of €50,000.
As regards, the KBC current account, it seems like a reasonable deal. There are free direct debits, standing orders and mobile and online banking.
ATM and cheque-processing is also free if you keep a minimum daily balance of €2,000. Otherwise ATM and cheque lodgements cost 30c each, which is normal. There is also a €6 quarterly fee so you would probably need to switch your main bank account to KBC to make this offer worthwhile. Another drawback is that there aren’t many KBC branches compared to the major retail banks here. I have 500 new Vodafone shares after the recent Return Of Value process. I don’t know much about the stock market and wonder would it be advisable to wait a while before selling them to allow the share price to settle? Will I be taxed on my return and how much?
AVodafone shares were trading at around £2.27 (€2.77) this week after rebounding from a low of around £2.10 in the middle of April. That would value your holding at €1,385.
Do share prices ever settle down? Most analysts expect Vodafone shares to gradually rise further but, on the other hand, a sudden shock could send the market into a tailspin at any time. With the stock market there simply are no guarantees. However, there are three reasons to sell: 1. You are a novice investor 2. With one shareholding, all your eggs are in one basket.
3. You will have the headache of ongoing minor tax liabilities on dividends.
Investing in shares can pay off, especially compared to the minimal returns available on deposit. But you may be better off doing so through a managed fund, where your risk is spread over many shares that are picked and monitored by experts.
If you do sell, there should be no capital gains tax liabilities on these shares, in your case, as you originally bought them through an investment in Eircom on which you – and most others – are still carrying a loss.
QMy partner and I have been looking for a home for a few years. When the right one came along, strong bidding drove the price up to €290,000 – €70,000 more than the approved mortgage plus our €40,000 deposit. Our parents have agreed to help fund the difference. Will this cause problems with the bank?
AI assume from your address that the home is in Dublin, so a rise in the valuation of the property shouldn’t be a problem as prices are going up all the time. The bank should be happy with this as long as you are not getting the money as a loan.
In fact, you should look into whether you can get a better mortgage deal as you will no longer be borrowing 80% of the property value but just 62%, giving the bank more security for the loan. Another option is to seek a bigger mortgage. You’d be more likely to get this if you can show any improvements in your income prospects since getting approval.