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Noonan welcomes updated Central Bank macro prudential rules
Speaking on changes announced by the Central Bank of Ireland today to the macro prudential rules, Finance Minister Michael Noonan said:
“The updated rules should enable all of those borrowing to purchase a home to find it easier to source a mortgage that suits their needs.”
The Minister in particular welcomed the abolition of the €220,000 loan to value threshold limit for First-Time Buyers.
This change in the prudential rules together with the Help-To-Buy scheme announced by the Minister for Finance in the Budget will be of great assistance to First-Time Buyers of their new home. These two measures, which reinforce each other, will have a significant impact on the capability of First-Time Buyers to fund their first family home.