Wednesday August 5, 2020

Loans of six-times income on offer

Concerns over 100 per cent mortgages are set to resurface after a leading bank analyst posing as a first-time buyer on below-average income raised a mortgage loan for €360,000.

27th August, 2005

Concerns over 100 per cent mortgages are set to resurface after a leading bank analyst posing as a first-time buyer on below-average income raised a mortgage loan for €360,000.

Scott Rankin, an analyst at Davy Stockbrokers, said that, while posing as a first-time buyer with a joint income of €60,000, he was offered loans that represented up to six times that figure.

Details of the loan application are included in a 39-page study into booming Irish...

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