BoI raises the bar for low-income mortgage borrowers
Bank of Ireland is to restrict the amount of money it will lend to certain mortgage applicants from this week onwards.
Bank of Ireland is to restrict the amount of money it will lend to certain mortgage applicants from this week. The bank, and its subsidiary, ICS Building Society, will introduce changes to their credit policy from Tuesday, meaning some mortgage applicants will now be able to borrow less.
The income multiples allowed for mortgage applications will reduce for a number of categories of borrower, reducing the amount of finance available.
The changes will affect lower...
Subscribe from just €1 for the first month!
With any subscription you will have access to
Unlimited multi-device access to our iPad, iPhone and Android Apps
Unlimited access to our eReader library
Exclusive daily insight and opinion seven days a week
Create alerts to never miss a subject that matters to you
Get access to exclusive offers for subscribers on gifts and experiences
Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine