Blog – McCarthy & Associates – Galway Talks, 04/02/2016

Issue: Would you be interested in inheriting your parent’s mortgage?
Comment: I am sure that the idea of this will put a shiver down the spine of many an offspring to think that their parents may leave their mortgage to them. This idea has been suggested by the Phoenix Project, who are a not for profit organization that assist mortgage holders who are in serious financial difficulty.
Their suggestion is that these people, rather than having their houses repossessed, can make an arrangement where the mortgage will continue to the next generation. After their passing, their children would have the opportunity to either pay off the loan or dispose of the property.
I certainly think that their idea has merits as that anything is better than removing people from their homes. However, trying to get the agreement of the financial institutions for this I think will be very difficult, if not impossible.

Issue: Vodafone shareholders offered option to dispose of their shares by the end of May.
Comment: Finally there is an opportunity for Vodafone Shareholders, who apparently number 300,000(most with holdings less than 100 shares) in this country, to dispose of their shares, through a low cost dealing service, which will continue until the end of May.
I have dealt with this issue many times in the past and essentially my advice for most people, to relieve themselves of the annoyance of receiving copious documentation, is to dispose of your shareholding through this facility.