Central Bank Consultation - Policy for mortgage lending



Finally someone has stood up to the bullshit:

“The mortgage measures have been effective in strengthening borrower and lender resilience and in limiting the potential for an adverse credit-house price spiral to emerge,” the Bank said.

Without the rules house prices would be even higher.

The regulators have estimated prices would be between 15pc and 25pc higher than at present.

Buyers would also be more indebted without the limits, Mr Makhlouf said.

And the Central Bank denied claims the rules are constraining house building.

Supply is the issue in the property market, not the lending rules, it said.


Taoiseach should butt out of running of the CB


I have some empathy here wrt to Leo’s position, he can’t be seen as heartless when 10’s of thousands feel hard done by and caught in a rental trap. It’s not like he has any real influence here either?


Well the Gov picks the Governor so they could put in a patsy…


or a hurley


I doubt they had full control over the appointment…


Tom Parlon would be great at this gig ?


Have we jumped the shark here?..

The decision by the Central Bank to not change the rules on mortgage lending in the next 12 months could lead to the return of ghost estates, according to the Construction Industry Federation (CIF).

CIF said its developers are seeing a slow down in demand due to potential buyers being ‘locked out of the market’.

CIF’s James BEnson said many couples can’t come up with the required deposit under the Central Bank’s current rules: "If we look at Greater Dublin Area, you’re talking an average house price of €386,000.

When you do the figures on that, you need to have a combined income of in excess of €93,000 to secure a mortgage, even with the Help To Buy Scheme.

"Outside Dublin, into the regions, you’re looking at an average house price of €320,000. Teachers or nurses and Gardai- they don’t have that combined income throughout Ireland so therefore they’re locked out of the market.


Somersaulted backwards over it while juggling garden gnomes, I’d have said.

Where’s the constant stream of media pieces on the dire need to reduce the ridiculous cost of building?