Tuesday July 7, 2020

Lenders concerned over new mortgage rules

The EU mortgage credit directive will be transposed into Irish law next month

14th February, 2016
Lenders are concerned about the implications of new EU mortgage rules Picture: iStock

Lenders are concerned about the implications of new EU mortgage rules designed to boost protection for borrowers.

The EU mortgage credit directive, which deals with areas such as pre-contractual information, financial education, and information on charges, is due to be transposed into Irish law next month, but full details are yet to emerge.

“It’s causing some concern,” one senior banking source said. “The rules are being introduced here by way of statutory instrument but that’s...

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