Decision not to change mortgage lending rules 'could see return of ghost estates'

The Central Bank has said it will not change the rules on mortgage lending in the next 12 months.

The decision by the Central Bank to not change the rules on mortgage lending in the next 12 months could lead to the return of ghost estates, according to the Construction Industry Federation (CIF).

Following a review, Central Bank Governor Gabriel Makhlouf said prices could rise by as much as 25% if the cap on lending is removed.