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  Home. Financial System. Financial Stability. Macroprudential Policy.
• Mortgage Measures
  
  In this Section
  
  Mortgage Measures - FAQ. Mortgage Measures Framework Review. New Mortgage Lending - Data and Commentary
  
  Mortgage Measures
  
  The mortgage procedures are an essential aspect of the Central Bank's macroprudential policy framework.
  
  The mortgage measures goal to make sure sustainable financing standards in the mortgage market.
  
  In doing so, the steps want to prevent the introduction of an unsustainable relationship between credit and house rates and ultimately support the resilience of borrowers, lending institutions and the broader economy.
  
  The measures work by setting limitations on the quantity of money that people can borrow to purchase home utilizing loan-to-income (LTI) and loan-to-value (LTV) limitations.
  
  The LTI limitation restricts the quantity of money you can obtain to an optimum of 4 times gross income for first-time-buyers and 3.5 times gross earnings for second/subsequent buyers.
  
  So, for instance, a first-time purchaser couple with a combined earnings of EUR100,000 can borrow up to an optimum of EUR400,000.
  
  A 2nd and subsequent buyer with the very same income can obtain approximately a maximum of EUR350,000.
  
  The LTV limit requires you to have a minimum deposit before you can get a mortgage. The size of this deposit depends on which classification of buyer you are.
  
  - First-time-buyers and second/subsequent purchasers require to have a minimum deposit of 10%.
• Buy-to-let buyers require to have a minimum deposit of 30%.
  
  Banks and other loan providers can provide a particular quantity above the limitations.
  
  The percentage of loaning enabled above the limitations uses at the level of the customer type, such that:
  
  - 15 per cent of first-time-buyer loaning can occur above the limitations.
• 15 per cent of second and subsequent purchaser lending can happen above the limitations.
• 10 per cent of buy-to-let-buyer financing can happen above the limits.
  
  The Reserve bank has actually set out the crucial concepts of the framework for the macroprudential mortgage procedures in its framework document.
  
  The Central Bank routinely monitors the mortgage measures and housing markets more broadly and interacts its findings and judgements on these in its biannual Financial Stability Review.
  
  Evolution of the mortgage determines 2015 - 2021
  
  These steps were first introduced in 2015 and were reviewed on an annual basis till 2021.
  
  The following provides previous evaluations of the mortgage measures, associated research study and Statutory Instruments.
  
  2021 Review of Mortgage Measures (FSR 2021: II)
  
  2020 Review of Mortgage Measures (FSR 2020: II)
  
  2019 Review of Mortgage Market Measures (FSR 2019: II)
  
  2018 Review of Mortgage Market Measures
  
  2017 Review of Mortgage Market Measures
  
  2016 Review of Mortgage Market Measures
  
  The regulations have actually been based upon in-depth economic analysis and empirical proof. This research has been released and can be discovered below.
  
  Economic Letter: Macroprudential Measures and Irish Mortgage Lending: A Review of Recent Data
  
  Policy Paper: The Introduction of Macroprudential Measures for the Irish Mortgage Market
  
  Research Technical Paper: Credit conditions, macro-prudential policy and home costs
  
  Research Technical Paper: Designing macroprudential policy in mortgage lending: Do first-time-buyers default less?
  
  Economic Letter: Do First time purchasers default less? Implications for macro-prudential policy
  
  Economic Letter: Mortgage insurance coverage in an Irish context
  
  Economic Letter: House rate volatility: The function of various buyer types
  
  Economic Letter: Assessing the impact of macro-prudential measures
  
  Economic Letter: Macro-prudential measures and the housing market
  
  Economic Letter: Macro-prudential Tools and Credit Risk of Residential Or Commercial Property Lending at Irish banks
  
  Economic Letter: Assessing the sustainability of Irish house rates: 1980 Q1 - 2016 Q2
  
  Economic Letter: Housing supply after the crisis
  
  Economic Letter: Exploring advancements in Ireland's local rental markets
  
  Economic Letter: Modelling Irish Rents: Recent Developments in Historical Context
  
  Economic Letter: Macroprudential Measures and Irish Mortgage Lending: Insights from H1 2016
  
  Economic Letter: The Effects of Macroprudential Policy on Borrowers Leverage
  
  Economic Letter: Model-based quotes of the durability of mortgages at origination
  
  Economic Letter: Originating Loan to Value ratios and the durability of mortgage portfolios
  
  Economic Letter: The income circulation and the Irish mortgage market
  
  Economic Letter: Macroprudential and Irish mortgage financing: A summary of loaning in 2016
  
  Economic Letter: Macroprudential procedures and Irish mortgage loaning: Insights from H1 2017
  
  Economic Letter: New mortgage financing activity in a relative context
  
  Financial Stability Note: Macroprudential procedures and Irish mortgage financing: An overview of 2017
  
  Financial Stability Note: Macroprudential steps and Irish mortgage financing: Insights from H1 2018
  
  Financial Stability Note: Lending above macroprudential mortgage limits: The Irish experience because 2015
  
  Financial Stability Note: Have First-Time Buyers continued to default less?
  
  Financial Stability Note: Mortgage servicing burdens and LTI caps
  
  Financial Stability Note: A procedure of bindingness in the Irish mortgage market
  
  Financial Stability Note: Mortgage debtors at the loan-to-income limit
  
  Financial Stability Note: Mortgage repayment price across the income distribution
  
  Financial Stability Note: A summary of the Irish housing market
  
  2022 Regulations (Statutory Instrument No. 546 of 2022)
  
  The following Statutory Instruments will be withdrawed with impact from 1 January 2023
  
  2015 Regulations (Statutory Instrument No. 47 of 2015)
  
  2016 Regulations (Statutory Instrument No. 568 of 2016)
  
  2017 Regulations (Statutory Instrument No. 559 of 2017)
  
  2019 Regulations (Statutory Instrument No. 369 of 2019)
  
  2021 Regulations (Statutory Instrument No. 666 of 2021)
  
  The policies were also notified by a public consultation issued in 2014. The Reserve Bank of Ireland published a feedback document offering an introduction of actions to the submissions made during the assessment procedure and the review process carried out by the Reserve bank of .
  
  For more details see: CP87 Macro-prudential policy for domestic lending.
  
  About the Mortgage Measures Framework Review
  
  Over the course of 2021 and 2022, the Reserve bank performed a review of the mortgage determines structure. The function of the evaluation was to make sure that the mortgage measures continue to remain healthy for function, because of the evolution of the monetary system and the wider economy considering that the steps were first presented in 2015.
  
  The review considered the general structure for, and technique around, the mortgage measures. The conclusions of the review were notified by the Central Bank's analysis of a large range of evidence, lessons from global experience and the feedback received through engagement with the public and other stakeholders. The evaluation concluded in October 2022 with the publication of the revised framework for macroprudential mortgage measures.