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.

3rd August, 2013

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...

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