Makhlouf resists pressure to relax mortgage lending rules for first-time buyers

Nobody wants a repeat of the €64 billion bank bailout, but tough rules mean tough consequences

1st December, 2019
Makhlouf resists pressure to relax mortgage lending rules for first-time buyers
Gabriel Makhlouf, Governor of the Central Bank. Picture: Patrick Browne

As he prepares to release the Central Bank’s annual review of mortgage lending rules, Gabriel Makhlouf, the regulator’s new governor, knows that he is under political pressure to help first-time buyers.

The pressure began last summer, when Leo Varadkar told the MacGill summer school that he hoped the bank would consider changing the rules which limit people to borrowing a maximum of 3.5 times their salary.

The rules also require first-time buyers...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

FF support plummets as public vent frustration over pace of vaccine rollout

Home Michael Brennan 1 day ago

Fianna Fáil takes hit over lockdown and slow rate of vaccine rollout

Home Michael Brennan 1 day ago

Varadkar and Donohoe clash over new tax break plans for remote workers

Home Michael Brennan 2 days ago

Fianna Fáil ministers to turn down 2 per cent pay rise

Home Michael Brennan 2 days ago