S Sarenco Registered User Messages 7,908 26 Jul 2016 #1 [broken link removed] 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.
[broken link removed] 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.
S Sarenco Registered User Messages 7,908 26 Jul 2016 #2 So is there any evidence that fewer FTBs are getting mortgages since the introduction of the Central Bank's mortgage rules? Not that I can find. Per the IBF figures, the number of FTB mortgage approvals rose by 8.8% year-on-year while the value of such approvals rose by 16.9% (to end May 2016). [broken link removed]
So is there any evidence that fewer FTBs are getting mortgages since the introduction of the Central Bank's mortgage rules? Not that I can find. Per the IBF figures, the number of FTB mortgage approvals rose by 8.8% year-on-year while the value of such approvals rose by 16.9% (to end May 2016). [broken link removed]
Brendan Burgess Founder Messages 52,119 24 Aug 2016 #3 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.
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.
Brendan Burgess Founder Messages 52,119 24 Aug 2016 #4 First time buyers are using the exemptions to borrow a lot more . "With an allowance" means within the 15% who exceed the LTV limit.
First time buyers are using the exemptions to borrow a lot more . "With an allowance" means within the 15% who exceed the LTV limit.
S Sarenco Registered User Messages 7,908 24 Aug 2016 #5 http://www.irishtimes.com/business/...ing-a-lost-generation-of-homebuyers-1.2766760 Good example of the media hysteria in today's IT - the Central Bank rules are apparently contibuting to the creation of a "lost generation" of FTBs.
http://www.irishtimes.com/business/...ing-a-lost-generation-of-homebuyers-1.2766760 Good example of the media hysteria in today's IT - the Central Bank rules are apparently contibuting to the creation of a "lost generation" of FTBs.
Brendan Burgess Founder Messages 52,119 24 Aug 2016 #6 I emailed Fiona as follows: Hi Fiona PIBA is talking absolute rubbish. The Central Bank guidelines are not the cause of the problem. Relaxing them will not ease the problem at all. http://www.askaboutmoney.com/thread...k-mortgage-rules-on-ftbs.199839/#post-1484040 I know you didn't write the headline, but it looks as if it's your view. The whole lot should have been in inverted commas. Brendan
I emailed Fiona as follows: Hi Fiona PIBA is talking absolute rubbish. The Central Bank guidelines are not the cause of the problem. Relaxing them will not ease the problem at all. http://www.askaboutmoney.com/thread...k-mortgage-rules-on-ftbs.199839/#post-1484040 I know you didn't write the headline, but it looks as if it's your view. The whole lot should have been in inverted commas. Brendan