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Central Bank lets lenders carry above-limit loans from one year to next | Ireland

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Allowing banks to carry over unused quotas that let homebuyers secure bigger loans will ease pressure on lenders, brokers have said.

The Central Bank published its annual review of mortgage rules yesterday as part of its broader financial stability review. It left its core mortgage rules unchanged, but it will now let banks carry forward above-limit loans.

Garry Manning, owner of Omac mortgage and finance, said that the introduction of the carry-over rule was a “very positive” change for the market.

“It brings a bit of certainty. It will probably enable banks to have a much more standardised policy,” he said. “As the market has developed, we’ve become a lot more aware of what the policies are and, generally, we know what will be done

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