As part of Cork Chamber’s ongoing policy focus on housing, we have made a submission to the Central Bank of Ireland on the mortgage regulations introduced in February 2015.

In our submission, we recommend that the deposit and income thresholds are adjusted to reflect the current housing market so that both first time buyers and those wishing to trade up can access a mortgage. We further recommend that track records of having paid rent is given consideration for determination of mortgage eligibility.

A total of 50 submissions were made to the Central Bank and it is expected that a decision on the review will be announced in November.

Our full submission and set of recommendations can be read here. Contact Sarah if you want to discuss our housing policy work in further detail.