Home loan rules likely to be loosened

The Central Bank is likely to ease back on strict new mortgage lending rules, experts have predicted. It follows research conducted by economists based in the Central Bank, which shows that first-time buyers are less likely to default on their mortgages than those trading up. This research was not released until after the closing date for submissions on the proposed new mortgage measures that the Central Bank plans to introduce next year.

Read more from this Charlie Weston article below:

http://www.independent.ie/business/personal-finance/property-mortgages/home-loan-rules-likely-to-be-loosened-30825752.html 

At MC Financial, we welcome this news and although we are hugely in favour  of a strong and well-regulated banking sector, these rules could have had the potential to exclude many first-time buyers from purchasing their first home for a number of years.

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