Banks boost mortgage lending to combat house price decline

Irish banks are beginning to ramp up new mortgage lending to help counteract the house price declines which are causing bigger impairments in their loan books.

11th March, 2012

Irish banks are beginning to ramp up new mortgage lending to help counteract the house price declines which are causing bigger impairments in their loan books, according to mortgage broker sources.

Lenders, led by market leaders AIB and Bank of Ireland, are aggressively pushing more loans into the severely depressed mortgage market to increase transactions and try to achieve price stability, which could reduce impairment charges the banks have to take on loans in arrears.

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