Central Bank claim new mortgage lending rules have 'worked'

The Central Bank has said new mortgage lending rules which it introduced earlier this year have worked.

The new regulations were brought in on January 27, 2015.

Deputy Governor Stefan Gerlach, in an address to the Society of Chartered Surveyors annual conference, said macro-prudential policies introduced by the Bank had worked "by reducing the speculative element of housing dynamics".

However Mr Gerlach said it was too early at this stage to assess their impact on lending as the Bank did not have any firm data.

Meanwhile, the President of the MediKids Andrew Nugent described the Government's failure to introduce direct measures to improve housing supply as both puzzling and disappointing.

More in this Section

Temperatures could reach mid-20s next weekend

Master of Rotunda restates controversial claim doctors' hands tied by 8th Amendment

Shane Ross announces details of independent review into search and rescue operations

Transport Minister says sector 'needs radical ideas'

Today's Stories

Kidnap suspect killed after a massive manhunt but victim is still missing

Olivia, 9, cannot get on waiting list for spinal surgery

Simon Coveney: Abortion law hard to know by year end

Taoiseach’s Offaly canvass greeted by quiet streets


New father’s life ‘changed forever’ after he was run over by surgeon

The biggest cancer killer will take your breath away

Hopefully she had an idea...

Power of the press: Meryl Streep and Tom Hanks discuss 'The Post'

More From The Irish Examiner