More Competition Needed in Kildare Mortgage Market

Credit Unions have the potential to offer badly needed competition in the mortgage market but that rules on lending restrictions will have to change to allow this to happen.

Credit Unions are operating in a difficult trading environment at the moment with a collapse in investment returns, onerous regulation and insufficient lending activity. A small number of Credit Unions are offering mortgages but they are severely constrained by the lending restrictions which allow a Credit Union to lend a maximum of 10% of its loan book over a period of greater than ten years. Continue Reading →