The pain that depositors are feeling, with rates below 1% gross will continue.  This is due to the fact that the ECB have made it clear that they intend on keeping rates at current levels for many years to come.

Anyone waiting for a significant rise in deposit rates, in the coming years, is totally delusional! In addition the high DIRT rate of 41% and USC charge is adding to this misery.

Leaving money on deposit should only be considered for convenience rather than as an investment decision.

So what is the solution?  You need to look at moving to an Read more..

Podcast – McCarthy & Associates – Galway Talks, 24/11/2016

• The Central Bank eases lending restrictions

• Revenue to have access to information from 100 countries in 2017/2018.

For more information listen to David discuss the above:


Central Bank finally sees the light!!

Central Bank finally sees the light!! and removes 20% deposit requirement for first time buyers.

Finally, the Central Bank has seen the light and removed its ridiculous requirement for First Time Buyers to have a 20% deposit when purchasing a house above €220,000.The new rule is that they only require 10%, irrespective of the price of the house.

For Second Time Buyers, Investors etc. the deposit requirement of 20% will remain, which I think is appropriate.  If these purchasers do not have the minimum 20%, then I believe they are not in a position to trade-up or invest.

Hopefully this change will lead to more activity among First Time Buyers, but there is one major elephant in the room!! and that is property supply, particularly in Dublin.  The Government now needs to sit up and take the measures that are necessary to either force developers, who are sitting on land banks, or a planning process that is slowing up supply to finally sort out this issue.

The Rental Market will also benefit from this change, as more people will seek to purchase a home and move from being tenants to homeowners.

WORD OF CAUTION — It will be 2 years before we can assess if this climb down by the CB has worked.

Podcast – McCarthy & Associates – Galway Talks, 17/11/2016

David answers the following questions from listeners :

Question: I was recently approached by my bank to conduct a financial review however, I am wondering what their motive is behind this considering that they do not act on an independent basis?

Question: I recently encashed an investment and within 1 week of the money appearing in my bank account, somebody from the bank was in touch with me trying to sell me an investment.  I was annoyed at what happened and I am wondering are they permitted to do this?

Listen below for more information:

Podcast – McCarthy & Associates – Galway Talks, 10/11/2016

What a week it’s been in politics and David McCarthy, like the rest of the world,  discusses the unexpected presidential election results and shares his view on how it will affect the financial markets.

Listen below for more information:


Podcast – McCarthy & Associates – Galway Talks, 03/11/2016

The questions below were asked this morning on Galway Bay FM:

Question:  I noticed that there were some changes in the Budget in relation to DIRT.  Can you please clarify?

QuestionI am in my 60’s and considering giving a reasonable portion of the monies I have on deposit as a gift to my son to buy a house.  I am wondering about the long term implications for me if I do this?

QuestionI am confused with regard to the type of Investments that are currently available.  I am wondering if you could help to clarify this for me?

For Davids answers and advice listen below to our podcast: