Monday 11 December 2017

New mortgage deal will ultimately subsidise developers

A total of 4,500 mortgages were approved, 51pc higher than in the first quarter of 2013
A total of 4,500 mortgages were approved, 51pc higher than in the first quarter of 2013
Donal O'Donovan

Donal O'Donovan

IF houses are unaffordable then – all things being equal – either prices are too high or incomes are too low.

Sure, credit plays a major role in the property market, and when the banks were at their most battered, the lack of credit killed the market.

But there is no hard evidence that people applying for a mortgage are being turned away in unreasonable numbers.

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