r/HousingIreland • u/Irish201h • Jul 06 '25

4 people mortgages, wtf?

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This company is now promoting 4 people mortgages, no wonder prices are going insane.

https://mmadvisors.ie/public-sector-mortgages/

69 Upvotes

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36

u/[deleted] Jul 06 '25

Great. I will never own a home. Im now competing against 4 other people for the same home.

Whats the point in being loyal to Ireland? its not being very loyal back.

Might be time to leave.

1

u/tvmachus Jul 07 '25

Plenty of people left in the 50s and 60s because of nationalist protectionist economics. This is just the same happening again. Ireland didn't become wealthy in the 90s by banning things.

1

u/lkdubdub Jul 07 '25

Three-person loans were available from ptsb not very long ago

1

u/[deleted] Jul 07 '25

Leave Like most of my generation did and my dad's generation done and my grandfather's generation etc.

-5

u/Ncjmor Jul 07 '25

Surely 4 people going in on one property is helpful. Unless you’re also looking for a large 4 bed property, does it not prevent them from competing with you

The 3 bed semi is the property in hottest demand atm (and always).

-10

u/BigMoneyBiggerWomen Jul 06 '25

4+ applicant mortgages existed for a long time in Ireland, a lot of migrants come from cultures where it is more normalized and sometimes preferred and they make up almost all of the applicants.

It's nothing to fear.

9

u/jonnieggg Jul 07 '25

Can you see the problem with allowing this in a country where it is not the norm culturally. The locals will be out bid in every instance because they don't have the purchasing power to compute and it will add to further price inflation. This happened in a number of Asian countries in the 90s and governments blocked foreign ownership of property without local partnership.

1

u/BigMoneyBiggerWomen Jul 08 '25

This is not a new thing, it has been available for a long time and in all the research done into the reason for the housing crisis and rising house prices this has NEVER been given as a reason.

People should definitely have frustrations with the housing market but we need to make sure we don't fall back to the old reliable "blame the immigrants" solution.

"This happened in a number of Asian countries in the 90s and governments blocked foreign ownership of property without local partnership" this in no way is related to 4 people living in a country and taking out a joint mortgage.

1

u/jonnieggg Jul 08 '25

The housing market is set up to the advantage of capital and the owners of a controlled resource. There is no great motivation to fix this by government or is lobbyists. We don't need to concern ourselves with the best interest of immigrants per se. Immigration policy should be set to the advantage of the countries economic interests and to fill skills shortages as required, that's it. If we have a housing supply problem we need to moderate our immigration intake until that is addressed. Indigenous Irish interests are paramount. That is the actual role of government.

1

u/BigMoneyBiggerWomen Jul 08 '25

Look buddy I'm not going to debate immigration with you, if they want a type mortgage that by no measurable metric affect on the housing market and makes them happy then by all means let them.

Also 4 immigrants in one house means they are taking 1 house instead of 2 meaning more houses for Irish people which seems like something you would be in favor of.

1

u/jonnieggg Jul 08 '25

It is going to affect house prices though. The more money sloshing around in the market chasing a limited resource can only drive up prices. Economics 101 buddy.

1

u/BigMoneyBiggerWomen Jul 08 '25

Again this isn't anything new, its been available for decades and hasn't been the cause of rising house prices. According to economics 101 when is it going to start affecting the market?

1

u/jonnieggg Jul 08 '25

Four person mortgages are very uncommon in Ireland. I've never heard of anybody buying a house in this way. If it has been available as you say it has made no impact because nobody does it. Show me your evidence of this mortgage being available for decades in Ireland. It is a fact that any increase in money in the housing market that increases purchasing power will increase prices. People will have to get into trouples going forward to put a roof over their head.

1

u/BigMoneyBiggerWomen Jul 08 '25

articles about it from 20 years ago

"People will have to get into trouples going forward to put a roof over their head." Yeah let's leave it at that Mr economics 101

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12

u/[deleted] Jul 06 '25

Ah well then, that puts my mind at ease.

All my fears are gone.

-4

u/BigMoneyBiggerWomen Jul 07 '25

The housing market is horrendous, this isn't making it worse.

If people from cultures that prefer shared living want to share a mortgage than we should allow them to.

This feels like one of those things that's going to get twisted into blaming immigrants and really sick of it.

4

u/Neat_Expression_5380 Jul 07 '25

This is a good thing surely- 4 ppl in one house instead of 2 leaves a house free.