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Matt Cooper: Central Bank bets its house on mortgages staying better value than rent
The Central Bank must have calculated that, even with a bigger loan, house buyers might still be paying less out of their monthly income on mortgage repayments than they would on rent
The Central Bank of Ireland is entirely independent of government in its decision-making. Therefore its decision to change the rules relating to mortgage lending by the banks must have been done based on its own research and assessment, and not because it was asked by anyone in government to make the changes.
That said, it would be interesting to know if property developers had lobbied the bank, as they did the departments of Housing and ...
