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Irish central bank tweaks mortgage lending rules
November 28, 2017 / 1:31 PM / 2 months ago

Irish central bank tweaks mortgage lending rules

DUBLIN, Nov 28 (Reuters) - Ireland’s central bank on Tuesday tweaked mortgage lending limits first introduced in 2015 to cut the number of loans banks can issue in excess of 350 percent of the borrower’s income.

Banks may still exceed the 350 percent lending limit for 20 percent of first-time buyer loans, but an exemption for loans to other buyers will be cut from 20 percent to 10 percent from January, the central bank said in a statement.

While Irish house prices are almost a quarter below a 2008 peak, they are now growing at an annual rate of over 10 percent. (Reporting by Conor Humphries; Editing by Hugh Lawson)

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