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

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    https://www.rte.ie/news/business/2018/1024/1006367-credit-union-mortgage/

    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

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  3. TheJackal

    TheJackal Frequent Poster

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