Housing minister welcomes mortgage rule change but concerns raised about house price increases

Image: Alamy Stock Photo Image: Alamy Stock Photo HOUSING MINISTER DARRAGH O’Brien has welcomed the mortgage rule changes announced today by the Central Bank.

Those that are divorced/separated or who have been through insolvency or bankruptcy can also be considered as first-time buyers under the new measures. Rory Hearne, author of the new book ‘Gaffs’ and an Assistant Professor in Social Policy tweeted today: At the press conference following the announcement, Governor of the Central Bank Gabriel admitted that there would likely be a “modest” increase in house prices resulting from the change, but said that the announcement was about ensuring financial stability rather than managing house prices.

“BPFI and its members recognise the critical importance of ensuring the stability of the banking system while providing essential credit to potential home buyers and protecting Irish households from the risk of over-indebtedness. “In order for new housing developments to be viable for the developer, they need to reach certain price levels. With people having more affordability now, being able to get bigger mortgages, it would mean that more buyers and more new housing should increase the supply of housing.

He literally only champions initiatives that make prices go up. Pretty clear who he's working for.

Of course the chins welcomes the rule changes… he probably helped to lobby on behalf of developer. Corrupt scum

He says more demand side measures while supply remains chronically low will help eh people trying to get a home. And that’s why we are never getting out of this.

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