Earlier today, elderly people were robbed in broad daylight by a man known only as “Brian”. “Brian” relieved these people of their automatic right to a medical card when they reach the age of 70. Gardai investigating the crime have suggested that some of the money stolen may have been transferred to his “family”, known as the CIF, reportedly the beneficiaries of a €1.65 billion windfall enabling them to perpetrate the scam of selling their stock of empty houses at inflated prices that bear no relation to actual market prices.
One third of over-70’s would not qualify for a medical card on means tested grounds if such legislation was to be applied retrospectively.
So now, ten thousand elderly people a year will lose out on what was one of the most progressive moves of recent years. It would be fine if the people losing out were multi-millionaires who had plenty of money of their own but this post on Ask About Money gives the true picture.
They qualify if income below 201.50 a week for single person or
298 a week for a couple.
I don’t know about you but having a pension income of €200 a week doesn’t sound like somebody milking it.
Meanwhile, the bailout of the builder’s continues apace. The papers have not even got wind of this yet. Basically, a website was unearthed on the Pin. It’s called Home Choice Loans and it lays out the framework by which the government will become subprime mortgage lenders. It would be nice to think that the website is a hoax but I’ve been told that .ie domains are not easy to register.
Home Choice Loan is a mortgage provided through a number of local authorities for First Time Buyers who can not get sufficent finance from a bank or building society.
Better known as subprime mortgage lending.
Home Choice Loan will only be available for newly built homes.
So all the people with second hand homes can piss off because the builders need to be bailed out first.
earn more than €40,000
Ah I get it. Somebody earning 25% more than the average industrial wage needs state welfare to buy a house.
have proof of being unsuccessful in securing a sufficient mortgage from a bank or building society to buy a home.
The bank turned them away because they were sub-prime but no matter because the state are happy to blow taxpayers’ money on this scheme to bail out builders.
WARNING: THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE – IF YOU DON’T KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME. THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME.
Will the government also provide for the army & gardai be available at a special discount to turf people out of their house?
So on the same day that “Brian” is robbing people in broad daylight, the plans to sink ever more first time buyers into negative equity with taxpayers’ money are revealed. Shame on them.
For the budget in summary form here.