Central Bank To Reveal How Much Leeway Banks Are Using

The Central Bank is to release aggregated data revealing how much of the potential 35% leeway the banks are using under the new mortgage rule later this month.

Sinn Féin Finance Spokesperson Pearse Doherty welcomed the announcement and said there is a national debate about the rules with many commentators jumping to conclusions without any idea of what use of the leeway the banks are using.


He said: "The only evidence we have on this issue is information provided to me in parliamentary replies by Permanent TSB which shows they used only 11% of the permitted 35% in 2015. If that figure proves to be typical of the entire sector then a reappraisal of where the real lending obstacles are would have to take place.

"I look forward to seeing the data, albeit in aggregated format, so that it can add to the public debate. These rules are controversial but my party has always maintained that they are necessary. It is concerning therefore to read that the government is set on possibly undermining them with tax plans or top up schemes before we even know if the rules are the actual cause of the difficulties facing some people trying to buy."

(CD)