Central Bank changes rules to allow CUs issue more mortgages

Discussion in 'The Fair Mortgage Rates Campaign' started by Brendan Burgess, 24 Oct 2018.

  1. Brendan Burgess

    Brendan Burgess Founder


    I can't find the information on the Central Bank website.

    The proposals include the removal of a cap on the amount of long-term lending an individual branch can make. Credit unions would instead have home mortgage and commercial lending limited, on a tiered basis, by the total value of the assets it holds.

    "The proposals support diversificiation in credit union loan portfolios," the Central Bank said in a statement. "Revisions would allow those credit unions with sufficient financial strength, competence and capability, to undertake additional home mortgage and commercial lending."
  2. RedOnion

    RedOnion Frequent Poster

  3. TheJackal

    TheJackal Frequent Poster

    This proposed change has been bouncing about for over a year now but still no solid date on implementation