Honohan critical of Noonan over mortgage changes

The Central Bank governor has chastised Michael Noonan over the finance minister’s failure to consult with him on controversial potential mortgage rule changes.

Patrick Honohan hit out at Mr Noonan in a letter last May, saying he was “surprised” to hear of the measures despite a lack of discussion “formally or informally” with the body.

Under rules announced by the Department of Finance last summer but yet to be implemented, the Government suggested a “mortgage insurance” initiative to help people buy homes if they did not have a full deposit.