Running the rule over the market

Many fear looser mortgage requirements will overheat the housing market, but the Central Bank believes the loan-to-income ceiling will prevent that

27th November, 2016
Graffiti on a closed storefront in central Dublin reflects anger over the housing crisis Picture: Bloomberg

A little over two years ago, in October 2014, the Central Bank sent borrowers and bankers into a tailspin when it indicated that it intended to dramatically tighten up lending conditions in the mortgage market.

On October 7 that year, the bank published a consultation paper outlining its plans for bigger deposits and smaller loans. The bank’s deputy governor, Cyril Roux, said at the time that the measures had been “carefully considered and, taking past experience...

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