How to get in shape for a mortgage application in 2016

The rules have become increasingly strict for mortgage applicants

3rd January, 2016
The Central Bank introduced new lending rules for mortgage applicants in February 2015

The Central Bank introduced new lending rules for mortgage applicants in February 2015. These rules are a very blunt instrument. Mortgages are capped by the following:

1: 3.5 times gross salary.

2: 90 per cent loan to value (LTV) maximum lending up to a purchase price of €220,000 and 80 per cent of the difference above this figure. On a purchase price of €300,000, €262,000 is the maximum borrowing, 87 per cent LTV. For non-first buyers, an 80 per cent LTV limit applies.

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The twelve deals of the year

Alphabet soup: 2021 in review

EY reports €393m revenues in Republic of Ireland for 2021 financial year