The squeeze is on for first-time buyers
Editor’s note Tina-Marie O’Neill: Change may be afoot as the banks challenge the Central Bank’s new mortgage rules.
The country’s main banks collectively voiced their concerns about the Central Bank’s new loan to value (LTV) mortgage regulations at last week’s parliamentary hearings. While acknowledging the preemptive reasoning behind the proposed legislation, executives at Ulster Bank, AIB, Bank of Ireland and Permanent TSB argued that new 20 per cent deposit requirements would squeeze first-time buyers out of the market.
They warned that the rules, set to kick in on January 1, would ...
