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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 a necessary aspect of the Central Bank's macroprudential policy framework.
  
  The mortgage determines goal to make sure sustainable loaning requirements in the mortgage market.
  
  In doing so, the measures look to avoid the emergence of an unsustainable relationship in between credit and home costs and eventually support the durability of borrowers, lending institutions and the wider economy.
  
  The steps work by setting limits on the quantity of cash that people can obtain to purchase home utilizing loan-to-income (LTI) and loan-to-value (LTV) limitations.
  
  The LTI limit restricts the quantity of money you can borrow to an optimum of 4 times gross earnings for first-time-buyers and 3.5 times gross earnings for second/subsequent buyers.
  
  So, for example, a first-time purchaser couple with a combined income of EUR100,000 can borrow up to an optimum of EUR400,000.
  
  A second and subsequent buyer with the same earnings can borrow up to a maximum of EUR350,000.
  
  The LTV limitation requires you to have a minimum deposit before you can get a mortgage. The size of this deposit depends upon which classification of purchaser you are.
  
  - First-time-buyers and second/subsequent purchasers need to have a minimum deposit of 10%.
• Buy-to-let buyers need to have a minimum deposit of 30%.
  
  Banks and other lending institutions can provide a certain amount above the limits.
  
  The percentage of financing allowed above the limits applies at the level of the borrower type, such that:
  
  - 15 percent of first-time-buyer loaning can happen above the limitations.
• 15 per cent of 2nd and subsequent buyer loaning can take place above the limits.
• 10 percent of buy-to-let-buyer loaning can happen above the limitations.
  
  The Central Bank has actually set out the essential principles of the framework for the macroprudential mortgage procedures in its framework document.
  
  The Central Bank regularly keeps an eye on the mortgage measures and housing markets more broadly and communicates its findings and judgements on these in its biannual Financial Stability Review.
  
  Evolution of the mortgage measures 2015 - 2021
  
  These procedures were first presented in 2015 and were examined on an annual basis till 2021.
  
  The following provides previous reviews of the mortgage steps, 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 guidelines have been based on extensive financial analysis and empirical proof. This research study has actually been published and can be found listed below.
  
  Economic Letter: Macroprudential Measures and Irish Mortgage Lending: An Evaluation 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 prices
  
  Research Technical Paper: Designing macroprudential policy in mortgage financing: 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 price volatility: The function of various buyer types
  
  Economic Letter: Assessing the impact of macro-prudential procedures
  
  Economic Letter: Macro-prudential steps 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 home costs: 1980 Q1 - 2016 Q2
  
  Economic Letter: Housing supply after the crisis
  
  Economic Letter: Exploring developments in Ireland's regional 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 resilience of mortgages at origination
  
  Economic Letter: Originating Loan to Value ratios and the durability of mortgage portfolios
  
  Economic Letter: The income distribution and the Irish mortgage market
  
  Economic Letter: Macroprudential and Irish mortgage loaning: A summary of lending in 2016
  
  Economic Letter: Macroprudential steps and Irish mortgage lending: Insights from H1 2017
  
  Economic Letter: New mortgage financing activity in a relative context
  
  Financial Stability Note: Macroprudential steps and Irish mortgage loaning: An introduction of 2017
  
  Financial Stability Note: Macroprudential steps and Irish mortgage loaning: Insights from H1 2018
  
  Financial Stability Note: Lending above macroprudential mortgage limitations: The Irish experience because 2015
  
  Financial Stability Note: Have First-Time Buyers continued to default less?
  
  Financial Stability Note: Mortgage maintenance problems and LTI caps
  
  Financial Stability Note: A step of bindingness in the Irish mortgage market
  
  Financial Stability Note: Mortgage debtors at the loan-to-income limitation
  
  Financial Stability Note: Mortgage payment price throughout the income circulation
  
  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 result 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 assessment provided in 2014. The Reserve Bank of Ireland released a feedback document offering an introduction of actions to the submissions made throughout the assessment process and the review process carried out by the Reserve bank of Ireland.
  
  For more information see: CP87 Macro-prudential policy for residential loaning.
  
  About the Mortgage Measures Framework Review
  
  Over the course of 2021 and 2022, the Reserve bank performed a review of the mortgage determines framework. The purpose of the evaluation was to guarantee that the mortgage measures continue to stay fit for purpose, in light of the development of the monetary system and the wider economy since the measures were first presented in 2015.
  
  The review considered the general framework for, and method around, the mortgage procedures. The conclusions of the review were informed by the Central Bank's analysis of a vast array of proof, lessons from international experience and the feedback received through engagement with the general public and other stakeholders. The evaluation concluded in October 2022 with the publication of the revised structure for macroprudential mortgage steps.