Soden whacks off €100,000 from his asking price
Those nasty Central Bank rules to curb mortgage lending may have had their first unintended victim... one of its own board members.
Former Bank of Ireland chief executive Mike Soden has chopped €100,000 off the asking price for his plush canal side home in Dublin 4, which is now up for sale at €2.4m through estate agent Daphne Kaye.
"The price has been reduced by €100,000 - from €2,500,000 to €2,400,000," according to the agency.
Soden is also on the board of the Central Bank, which has been spanked over its mortgage lending restrictions, which will see larger deposits required for home buyers as well as stricter loan to value measures.
These new tougher rules have been blamed for the recent wobble in Dublin house prices. This means that the Central Bank's new loan rules will have a direct effect on one of its board members - which certainly shows commitment.
The most recent CSO figures show that Dublin house prices had taken a dip towards the end of last year breaking an unbroken run of almost two years of monthly price rises.
Soden ran Bank of Ireland until 2004 when he, as The Irish Times graciously put it, "resigned amid controversy over accessing websites forbidden under the bank's online policy".
Sunday Indo Business