Heydon urges mortgage holders to engage with public consultation

Fine Gael TD for Kildare South, Martin Heydon, has urged mortgage holders to engage with a new public consultation announced by the Central Bank in relation to Loan-to-Value and Loan-to-Income Regulations.

“It is really positive to see the Central Bank engaging in a public consultation on the matter of mortgage regulations and I urge anyone affected to have their say.

“The window for submissions to this consultation is from 15th June to 10th August 2016, and the contributions will be used to inform a review of the mortgage rules, which is due to be published in November 2016. This gives mortgage holders a chance to have their say on how the new regulations will impact on them.

“People can learn more about the consultation and make their submission at www.centralbank.ie

“Recently in the Dáil I also raised the topic of first-time-buyers with the Minister for Finance Michael Noonan. I was enquiring about the possibilities of introducing incentives for first-time-buyers to buy their own home. The Minister confirmed to me that he is examining the potential for an approach through the income tax system, in which a relief could be applied to first-time-buyers. This would be most welcome in terms of helping people get on the property ladder, and I will be following up on this initiative with the Minister.”