MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
  • Mortgages
  • Property Report
MyHome.ie Blog
  • MyHome Living
  • News
  • RetroFit Hub
  • Buyers Advice Hub
  • Selling
  • Renting
    • Mortgage Learning Center
    • Calculators
    • Best Mortgage Table
  • Property Report
    • All Properties
    • Houses For Sale
    • Apartments For Sale
    • Available To View
    • Overseas Holiday Homes
      • Properties For Auction
      • Upcoming Auctions
      • BER Assessors
      • Property Conveyancing Solicitors
      • Pre-Purchase Surveyors
    • Find Agents
    • All Properties
    • Houses To Rent
    • Apartments To Rent
    • Available To View
    • Share
      • Irish Holiday Homes
      • Overseas Holiday Homes
  • New Homes
    • For Sale
    • To Rent
    • Auction
      • Residential Land
      • Commercial Land
      • Farm Land
      • Farms
      • Sites
    • MyHome Living
    • Buyer Advice Hub
    • Property Report
    • Property Price Register
    • Price Changes
  • Mortgages
    • Rental
    • Holiday Homes
    • Commercial
    • Sharing
Advertisement
  • Home
  • Uncategorized
  • Central Bank considering proposals to prevent banks from taking on too much high risk loans
Uncategorized
Dec 15, 2011 - 16:54

Central Bank considering proposals to prevent banks from taking on too much high risk loans

The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share
Central Bank considering proposals to prevent banks from taking on too much high risk loans

The Central Bank is reported to be considering new proposals that could prevent banks from offering variable or tracker mortgages and restrict institutions from taking on too much "high-risk property lending".

The potential new rules, described as being at an "early stage of development", are revealed in a wide-ranging document published on Wednesday on Ireland’s implementation of its bailout programme.

The prospect of eliminating variable and tracker mortgages is contained in a lengthy section on efforts to "strengthen supervision" of Ireland's banks, reports The Irish Independent.

The commission notes that the Central Bank is preparing a report that would explore various new "policy tools" such as capping how much of a property's value a bank can loan out.

Advertisement

The report would also look at "potentially fixing all interest rates for certain products such as mortgages" as well as imposing restriction on the amount of "high-risk property lending" individual banks could do, the EC said.

A "discussion document" is expected to be presented "before the end of the year" so "conclusions and recommendations" can be reached with the EC and other bailout partners by the end of March.

Ireland has a far higher proportion of variable mortgages than most European countries. The effect is to leave borrowers with more volatile repayments since they can rise and fall in line with interest rates.

Sources stressed that any measures were at a "very early stage" and no decisions had been taken.

Subscribe to our weekly MyHome Living eZine today

Processing your request...

You are subscribed now!

<

  • Tags
  • bailout programmes
  • Central Bank
  • EC
  • European
  • financial institutions
  • tracker mortgages
  • variable mortgages
The MyHome Newsdesk
By The MyHome Newsdesk
Share this article
Facebook Share Twitter Share Linkedin Share Email Share Whatsapp Share

Helpful Links

Find your home on MyHome
Read more Articles
Calculate what you can afford to borrow
Welcome to the Retrofit Hub
Advertisement
Advertisement

Related News

What is a Heat Pump?
Uncategorized

What is a Heat Pump?

Feb 27, 2025
Living Cities Initiative
Uncategorized

Living Cities Initiative

Jan 14, 2025
Digital Services Act
Uncategorized

Digital Services Act

Mar 31, 2024
Avant Money and Finance Ireland announce new rates
Uncategorized

Avant Money and Finance Ireland announce new rates

Dec 09, 2021
Average deposit of first-time buyer was €52,000 in first half of the year
Uncategorized

Average deposit of first-time buyer was €52,000 in first half of the year

Dec 07, 2021
Frequent And Popular Searches
MyHome.ie Blog
Help
Jobs
About
Equality Guidelines
Brand Safety
Contact
Terms & Conditions
Cookie Policy
Privacy Policy
Digital Services Act
Sitemap
© Copyright MyHome.ie 2025
Advertisement