Call For Review Of Mortgage Rules To Be Published

Sinn Fein has hit out at the Central Bank and the Minister for Finance for refusing to publish a review of the mortgage rules.

The party's Finance spokesperson, Pearse Doherty, TD, also accused Minister Michael Noonan of hiding behind relationship agreements at State banks.

He said: "We need to know if the full scope for leeway under the rules is being utilised. The answer could drastically change the narrative around this issue.


"We need whether it is these rules which require a 20% deposit for non-first time buyers and apply a cap of three and half times a family's income on a mortgage that are preventing young families and others who wish to buy a house from doing so or whether the banks are hiding behind these rules and simply not lending to some people. The Central Bank should respond positively to the government’s request while the Minister as shareholder at AIB and Permanent TSB should direct those banks to publish the figures.

"I have always supported the concept behind the rules and called for them to be monitored on a social level. We cannot repeat the mistakes of the past and I believe these rules are meant in that spirit."

(CD/LM)