Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

I absolutely appreciate the concerns many people are experiencing about mortgage applications and drawdowns at a difficult time, and my Department and I are maintaining close contact with the Central Bank and the Banking and Payments Federation Ireland, BPFI, as the lending industry works to address the difficulties Covid-19 is causing for both borrowers and lenders. The Central Bank has advised that it expects all regulated firms to take a consumer-focused approach and to act in their customer's best interests at all times.

In the context of mortgage applications, lenders continue to process applications and have supports in place to assist customers impacted by Covid-19. If customers have any queries or concerns about the impact of Covid-19 on their mortgage application, they should contact their lender directly or consult the supporting information document on the BPFI's website on the impact of Covid-19. However, subject to the regulatory framework, the decision to grant or refuse an individual application for mortgage credit is a commercial and contractual decision to be made by the regulated bank and it is not appropriate or possible for me to instruct lenders in that regard.

The regulations governing mortgage credit require lenders to make a thorough assessment of the consumer’s creditworthiness. The assessment must take account of factors regarding the consumer's ability to meet his or her obligations and it must be carried out on the basis of information on income and expenses. In regard to all of that, however, I welcome the recent statement from the pillar banks that mortgage applications from people in receipt of TWSS payments will be assessed on a case-by-case basis.

See this speech in context