Duke of Marmalade
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I have just read SBarret's Key Post. I note that there is scope for LTVs above 80% for 15% of lending.
So I take back my criticism of Patrick. These proposals seem eminently fair and sensible. 15% should easily be enough to cope with Miss Tallaght Ph D.
I have just read SBarret's Key Post. I note that there is scope for LTVs above 80% for 15% of lending.
So I take back my criticism of Patrick. These proposals seem eminently fair and sensible. 15% should easily be enough to cope with Miss Tallaght Ph D.
Or will the 15% be used to mainly help out those related to people in the know- this is Ireland after all
I take your point Boss. Now that there is a quota on high LTVs the banks will come fussy and only fill the quota with the best income prospects.These proposals will probably be a great help to Ms. Ph.D. Tallaght
It will remove a lot of the borrowers from the market who would have been competing with her and who would have been pushing up the price.
The option of insurance cover to meet a potential 20% drop in the price of a property does not appear to have been addressed in this country. It will mean a higher cost for the borrower but as in the States it does mitigate the risk of 100% borrowing. I don't understand why this option has not been explored here!
TTY he question is what are they actually trying to achieve? Is it to ensure safety of lending or a cooling of the property market? If the latter then is this a proper function for the CB?
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