November 28, 2017 / 1:38 PM / a year ago

Irish central bank tweaks mortgage lending rules

DUBLIN (Reuters) - Ireland’s central bank on Tuesday tweaked mortgage lending limits first introduced in 2015 to cut the number of loans banks can issue in excess of 350 percent of the borrower’s income.

A sign is displayed outside the Central Bank of Ireland in Dublin, Ireland, July 25, 2016. REUTERS/Clodagh Kilcoyne

Banks may still exceed the 350 percent lending limit for 20 percent of first-time buyer loans, but an exemption for loans to other buyers will be cut from 20 percent to 10 percent from January, the central bank said in a statement.

While Irish house prices are almost a quarter below a 2008 peak, they are now growing at an annual rate of over 10 percent.

Reporting by Conor Humphries; Editing by Hugh Lawson

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