Banks set to detail mortgage lending under new rules

The Central Bank is set to get its first update on the operation of strict new mortgage lending rules later this month.

Within the next ten days, lenders must submit detailed reports to the Central Bank on lending activity since so-called macro-prudential rules came into force in mid-February.

Under the new mortgage lending rules, borrowers require larger deposits and are restricted by tighter income multiples.

Lenders can breach the rules in a limited ...