Mortgage experts are predicting a surge in mortgage applications in the run-up to Christmas as would-be buyers race the clock on new Central Bank proposals to curtail lending.
The Central Bank last month unveiled plans to cap mortgage lending from January 1, with the proposed restrictions meaning most borrowers will require a 20 per cent deposit to buy a home next year.
Property experts have raised concerns that the proposed new lending rules will scupper many first-time buyers’ plans to buy a home next year. As a result, many would-be buyers are now trying to secure mortgage approval ahead of the new rules coming into force.
Read the full story in the Sunday Business Post
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