I will safely guarantee that all banks will introduce the new CB limits into their policies immediately. Banks are now ultra conservative and any CB edict will become the new gospel.
While the regulations are not yet in place, regulated lenders are instructed to take account of the likely introduction of such a regime and to begin to adapt their lending practices already in anticipation of its introduction.
And as I stated on here a few days ago, about one or two days after the CB announcment I heard from someone in Dublin having mortgage approval that their broker had rung them to say the rules had changed.
Well realistically it would not be best practise to try and process a flood of mortgages over the next few months in order to avoid the new regulations. We bankers tend to observe the spirit of the rules and would not want to be seen as trying to circumvent them
Well realistically it would not be best practise to try and process a flood of mortgages over the next few months in order to avoid the new regulations. We bankers tend to observe the spirit of the rules and would not want to be seen as trying to circumvent them