The time has come for the Central Bank to change its mortgage rules to give buyers more flexibility, the head of AIB, the country’s biggest mortgage lender has said.
In relation to mortgage rates in Ireland, which are considered high by European standards, he said that they were unlikely to go lower.
“If you look at where Central Bank rates are, it is nigh on impossible to see them going lower than they currently are. We’ve seen very significant reductions in mortgage interest rates in Ireland the past four or five years.
“Mortgage interest rates are very, very low at the moment. We obviously keep the market under continuous review.” He added that he did not see them going up either.