Brendan Burgess
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Mortgage lending rules are ‘prudent’ - Howlin
Requiring home buyers to save a 20 per cent deposit is “prudent”, Brendan Howlin, Minister for Public Expenditure and Reform said Tuesday morning, ahead of the publication this week of the Central Bank’s new rules on mortgage lending.
Speaking ahead of the cabinet meeting, Mr Howlin said that the regulator is “independent” in its decision making, but that imposing a lending limit of 80 per cent of the purchase price of a property is “the most prudent decision on the Irish economy”.
“We are now trying to rebuild. We need to have robust lending patterns,” Mr Howlin said.
Requiring home buyers to save a 20 per cent deposit is “prudent”, Brendan Howlin, Minister for Public Expenditure and Reform said Tuesday morning, ahead of the publication this week of the Central Bank’s new rules on mortgage lending.
Speaking ahead of the cabinet meeting, Mr Howlin said that the regulator is “independent” in its decision making, but that imposing a lending limit of 80 per cent of the purchase price of a property is “the most prudent decision on the Irish economy”.
“We are now trying to rebuild. We need to have robust lending patterns,” Mr Howlin said.