A round-up of today's other stories in brief

Property still 'safer option' for investors

Almost two-thirds of property investors intend to increase their property portfolios within the next five years, according to a new survey by EBS Building Society and Gunne Residential.

The survey revealed that four-fifths of those questioned invested in property because they believed property was a safer option than other forms of investment. Around two-thirds also said that the rents they receive are adequate to cover their expenses on the property.

The survey was conducted among 200 property investors, with 41 per cent owning one investment property, 26 per cent owning two and 22 per cent owning four or more.

Around three-quarters said that they invested in property to provide a pension for themselves and their partner, with half saying that they invested to provide a nest egg for their children.

Dara Deering, head of mortgages at EBS, said there continued to be a high level of confidence among property investors.

"It's interesting to see that one in 10 is buying elsewhere in Europe, so investors are obviously researching foreign markets in the quest for good value," she said.

AIB introduces 'Be' credit card

AIB has introduced a new credit card where the interest rate depends on how much people spend using the card and their repayment patterns.

The AIB "Be" credit card has an introductory 12-month annual percentage rate of interest (APR) of 6.9 per cent and a six-month 0 per cent balance transfer rate.

The interest rate rises to 13.9 per cent APR after one year if the cardholder spends more than €5,000 and incurs no more than one penalty fee per year. If the cardholder spends less than €5,000 or incurs more than one penalty fee, they will be charged a rate of 16.9 per cent APR. AIB describes the "Be" card as the Republic's first performance-based credit card.

Remortgaging 'keeps growing'

The remortgaging market is continuing to grow as homeowners choose not to move but to release equity from the value of their homes, according to broker group IFG.

Trevor Grant of IFG Ireland said that it expected the remortgaging market to eclipse the main purchase market over the next 10 years thanks to speedier mortgage switching procedures.

Debt consolidation is also on the increase, with consumers choosing to wrap all of their more expensive debts under one mortgage umbrella and avail of home loan rates, often selecting dual repayment terms.

More support for private house sales

Castlebar-based solicitors who offer advice and support on selling your house privately via www.4salebyowner.ie plan to extend their franchise to Ennis this week, with further offices in the pipeline for Sligo, Waterford and Dublin.

The solicitors involved do not charge commission- based fees, but a flat rate of €1,000 plus VAT in exchange for advertising.