Some of Central Bank's mortgage lending rules 'crude and unfair'  

Brokers Ireland wants the Central Bank to switch the loan-to-income limit for borrowers from a calculation based on a multiple of gross income to one based on net disposable income

Using the new calculation 'would be a fairer mechanism and would help single applicants in particular borrow more while still being affordable'.

Part of the Central Bank's mortgage lending rules that control the amount of credit flowing into the housing market is "crude and unfair", the largest brokers' industry group has said, urging the regulator to tweak the cap. 

Brokers Ireland said it wanted the Central Bank to switch the loan-to-income limit for borrowers from a calculation based on a multiple of gross income to one based on net disposable income.