Monday June 1, 2020

IMF wants changes to Central Bank’s mortgage lending rules

Organisation wants current mortgage cap on 3.5 times income reviewed

3rd July, 2016
Central Bank on Dame Street

The IMF has rowed in on the debate around the Central Bank’s controversial mortgage lending rules.

The IMF says the current cap on a mortgage of 3.5 times income should be replaced by a mechanism that takes into account a borrower’s overall debt.

The strict lending rules were introduced by the Central Bank last year and also mean that borrowers require a bigger deposit.

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