Michael Noonan seeks mortgage data release

Finance Minister Michael Noonan is set to increase pressure on the Central Bank to publish data which shows how much mortgage lending is being conducted outside of the rules banks are required to abide by.

Under the rules introduced by the Central Bank last year, banks have the discretion to exempt a certain percentage of loans from the lending restrictions.

Banks can exempt 15% of qualifying loans from the loan-to-value limit and 20% from the loan-to-income limit which means borrowers would either have to provide a smaller deposit or could be allowed to borrow a higher multiple of their income.