Mortgages

First-time buyers are continuing to drive mortgage drawdown and approvals activity in Ireland, according to new figures. In the fourth quarter of 2019, there were 12,259 new mortgages worth €2,768 million drawn down, an increase of 1.2 per cent in volume and five per cent in value on the previo

A housing law expert has called on the Central Bank of Ireland to take a more "proactive" approach to enforcing EU protections for mortgage holders. Dr Padraic Kenna, senior lecturer in law at NUI Galway, wrote to The Irish Times after the Central Bank warned lenders not to add legal costs to mortga

Lenders must not add legal costs to mortgage accounts during repossession proceedings, the Central Bank of Ireland has warned. In a letter to lenders, the Central Bank said the application of legal costs "prior to the conclusion of repossession proceedings and prior to the decision by a court to awa

In a further sign that low interest rates are the new normal, Virgin Money has launched a new range of long term fixed rate residential and buy-to-let products, offering borrowers interest rate certainty for up to 15 years. The new products will include overpayments of up to 10 per cent per annum wi

Julie Sadlier, solicitor at Kieran Mulcahy Solicitors in Limerick, writes on a recent ruling with potential significance for mortgage cases. Earlier this month, a decision from a High Court case was posted on the website of the Courts Service of Ireland. It didn’t warrant any huge public or me

The number and value of mortgages being drawn down by Irish borrowers in the first quarter of the year has shown "good growth". New figures from the Banking & Payments Federation Ireland (BPFI) shows a nine per cent increase in volume and an 11 per cent increase in value compared to the same per

The Central Bank of Ireland has announced it will review the practice of lenders adding legal fees to the mortgage arrears accounts of homeowners involved in repossession cases. Doubts have been raised over whether the practice is compliant with the Bank's Code of Conduct on Mortgage Arrears (CCMA)