Central Bank rules out changes to mortgage rules during pandemic

Irish Times | Nov 26, 2020 at 1:31 PM
  • The Central Bank has ruled out a temporary loosening of the mortgage lending limits during the Covid-19 crisis while warning that the imbalance between housing demand and supply is likely to persist “for an extended period”.
  • In its review, the Central Bank warned that the combination of strong demand, risks to housing supply and additional debt could create “pro-cyclical dynamics between credit and house prices”.
  • By the end of October, there were 29,000 accounts, mortgage and non-mortgage on loans breaks related to the pandemic, reflecting about €6 billion worth of loans.