The Economic and Social Research Institute has urged Ireland’s central bank to ease planned restrictions on mortgage lending.
The think tank said house prices weren’t fundamentally overvalued and that the proposed changes could mean the future supply of new homes was restricted.
The new rules – which would limit the size of a mortgage to 3.5 times an applicant’s income and to 80% of a property’s value – are set to come into effect from January 1, but the central bank has indicated this timeframe could be extended while it reviews the submissions it has received on the subject.
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