One year on, the mortgage market is still distorted

It is likely that the next couple of months will be a graveyard for activity unless potential buyers meet the criteria

25th October, 2015
Outgoing Central Bank governor Patrick Honohan

It is an anniversary many would struggle to remember and few would celebrate, but October marks one year since the Central Bank governor Patrick Honohan floated the idea of tougher income and lending limits for those seeking a mortgage.

The Central Bank survived an intense lobbying campaign, most visibly at political level, but also from banks and consumers, to get his macroprudential rules in place. It is only now, as Honohan prepares to exit the...

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