Consumer watchdog criticises 'dysfunctional' mortgage market

A consumer watchdog report has found Ireland’s mortgage market is “dysfunctional” and in need of long-term actions to lower the cost of mortgages and to improve improve competition and customer protection.

The Competition and Consumer Protection Commission (CCPC) published its mortgages options paper, presenting the Government with a range of options the CCPC said will develop “a better-functioning, competitive and stable mortgage market”.

The paper was requested by the the then-Minister for Finance Michael Noonan last year as part of the Programme for a Partnership Government.