Wednesday February 19, 2020

Minister for Finance introduces increased mortgage protections for Irish consumers

Law makes it easier to get a mortgage from other EU countries

24th March, 2016
Buying a house will be easier for some first-time buyers. Pic: Pixabay

It also increases choice by making it easier for people shop around to get a mortgage from banks in other EU countries.

New EU-wide responsible lending practices have been introduced under the directive which was adopted in February 2014 and came into effect yesterday in Ireland.

The directive introduces a minimum seven-day cooling off period, during which borrowers can compare offers, assess offer implications, obtain third party advice.

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