Central Bank easing of mortgage rules ‘a reaction to Government failure’ - Doherty

Sinn Féin finance spokesman Pearse Doherty has described the Central Bank decision to ease mortgage rules as a reaction to failures in Government policySinn Féin finance spokesman Pearse Doherty has described the Central Bank decision to ease mortgage rules as a reaction to failures in Government policy.

It is understood the regulator plans to keep in place its loan-to-value caps, restricting mortgages to 90 per cent of the value of a property for first-time buyers and 80 per cent for those buying a subsequent home.Speaking on RTÉ Radio’s Today with Claire Byrne show, Mr Doherty said it was not acceptable that people had to borrow €400,000 to buy a house in Dublin and that they should not be in this position.

There is a concern that increasing the amount homebuyers can borrow may lead to increased house prices, the Association of Irish Mortgage Advisors has warned. “Whilst it was not their purpose, they have helped to somewhat regulate property price growth in recent years,” he said. “Therefore there is a concern that by increasing the multiple at this time it may increase prices until sufficient property supply is delivered.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »

Central Bank to ease income rules for mortgage lendingCentral Bank to ease income rules for mortgage lending via IrishTimesBiz
Source: IrishTimesBiz - 🏆 6. / 77 Read more »

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,
Source: rtenews - 🏆 1. / 99 Read more »