Friday July 10, 2020

Central Bank leaves mortgage rules unchanged

House prices would have risen by as much as 25 per cent more if lending restrictions had not been in place, report says

Ian Guider

Markets Editor

@ianguider
4th December, 2019
Gabriel Makhlouf, the Central Bank governor: “The mortgages measures are working and because of that we aren't proposing changing them.” Picture: Patrick Browne

The Central Bank has left its controversial mortgage rules unchanged, warning that house prices would have risen even higher if they had not been in place for the past four years.

In his first major act as governor, Gabriel Makhlouf said that following a review of the measures, which require borrowers to meet certain loan-to-income and loan-to-deposit rules, there would be no changes next year. Exceptions that allow banks to offer mortgages outside these requirements...

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