IMF sees even tighter mortgage restrictions

The IMF has put its full weight behind the Central Bank mortgage rules, and recommending the restrictions should be widened to take in a full picture of all debts of households here.

The mortgage rules have been widely criticised by mortgage brokers and others in the property industry as overly restricting lending to young borrowers. According to the industry, the loan-to-value (LTV) and loan-to-income (LTI) limits are too severe.

However, in its so-called Financial System Stability Assessment of Ireland’s banking system, the IMF insists that the mortgage rules are here to stay.