Mortgage rules will need to be loosened again to keep pace with rate hikes, brokers say   

Brokers said that they expect affordability issues only to get worse

The changes are the result of a year-long review into mortgage lending by the Central Bank and are expected to come into effect by January 2023.

The Central Bank is playing catch-up and will likely be forced to review the mortgage rules again next year to help first-time buyers qualify for home loans, mortgage brokers have said. 

It comes after the regulator changed the amount first-time buyers can borrow from 3.5 to four times household income following a major review of its mortgage measures.