Central Bank's new mortgage lending rules explained as buyers can borrow more

The Central Bank is set to relax its mortgage lending rules following the outcome of a review, which will be published later this morning.But following a review of the situation, the regulator will announce changes to the system so that buyers can borrow four times their income.

What does it mean for first time buyers? The relaxing of mortgage lending rules is set to benefit first-time buyers in particular. Will new mortgage lending rules affect property supply and prices? While mortgage experts are welcoming the easing of the rules, there are fears around prices and supply issues.There are fears this will cause more pressure on house prices, which are already at an all time high when supply is so short.

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Central Bank set to ease mortgage lending rulesThe Central Bank is expected to slightly relax its mortgage lending rules from tomorrow to allow house buyers to borrow up to 4 times their income from lenders Irish establishment answer to unaffordable housing: put people in yet more debt so that developer's pockets continue to be lined. Here we go again! Nobody learning from 2008, it was 2.5 time's then, Put people in so much debt, they'll never own it, but the Banksters will take it and still expect them to cover the excess for the rest of their lives, You'll Own Nothing But You Vill be Happy,
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Central Bank to ease income rules for mortgage lendingCentral Bank to ease income rules for mortgage lending via IrishTimesBiz
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Central Bank set to ease mortgage lending rulesUnder the expected new rules, borrowers will be able to borrow up to four times their income – up from 3.5 times – but will still be required to provide a 10 per cent deposit if a first-time buyer or 20 per cent if a second time or subsequent buyer
Source: businessposthq - 🏆 8. / 71 Read more »

Central Bank set to ease mortgage lending rulesUnder the expected new rules, borrowers will be able to borrow up to four times their income – up from 3.5 times – but will still be required to provide a 10 per cent deposit if a first-time buyer or 20 per cent if a second time or subsequent buyer
Source: businessposthq - 🏆 8. / 71 Read more »