Limited Impact of Central Bank mortgage rules on FTBs

Discussion in 'The Central Bank's 2016 review of mortgage limits' started by Sarenco, Jul 26, 2016.

  1. Sarenco

    Sarenco Frequent Poster

    Posts:
    4,854
    http://www.centralbank.ie/publications/Documents/Economic Letter - Vol 2016, No. 3.pdf

    Average (mean) value of property acquired by FTBs in 2015:-
    • Out of scope of CB regulations - €230,424
    • In scope of CB regulations - €234,599
    Average (mean) loan to income (LTI) ratio for FTBs:-
    • Out of scope of CB regulations - 2.9
    • In scope of CB regulations - 2.8
    Average (mean) loan to value (LTV) for FTBs:-
    • Out of scope of CB regulations - 80.7%
    • In scope of CB regulations - 78.9%
    It's hard to understand the media and political hysterics on the basis of those figures.
     
  2. Sarenco

    Sarenco Frequent Poster

    Posts:
    4,854
  3. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    34,864
    Here is the full table from that report. There is no difference between the loans approved before the rules came into effect and the loans approved afterwards.

    upload_2016-8-24_11-19-37.png
     
  4. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    34,864
    First time buyers are using the exemptions to borrow a lot more . "With an allowance" means within the 15% who exceed the LTV limit.

    upload_2016-8-24_11-33-42.png
     
  5. Sarenco

    Sarenco Frequent Poster

    Posts:
    4,854
  6. Brendan Burgess

    Brendan Burgess Founder

    Posts:
    34,864
    Sarenco likes this.