Tuesday 22 October 2019

Central Bank to quiz homebuyers over mortgage lending rules

The Central Bank
The Central Bank

Househunters may be surveyed to assess the impact of the new mortgage deposit rules introduced earlier this year, the Central Bank has said.

It also defended itself against criticisms by the Economic Social Research Institute, which said the timing was wrong and questioned the decision to have a softer approach for first-time buyers.

The Central Bank said it would be monitoring the impact of the measures, including examining house prices and rents and the amount of new mortgages.

The comments from the Central Bank's chief economist, Gabriel Fagan, came as a third survey found that property prices have moderated.

Estate agency Sherry FitzGerald found that prices across the State rose by 1.7pc in the first three months of this year, compared with a rise of 5pc during the same period in 2014. Mr Fagan said it may survey homebuyers to determine how they have been impacted by the Central Bank rules.

Irish Independent

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