Michael McGrath (Cork South Central, Fianna Fail)
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324. To ask the Minister for Finance if his Department or the Central Bank of Ireland has at any stage examined the possibility of introducing non-recourse mortgage lending here; if he has considered the implications on property prices, the availability of credit and the cost of credit; and if he will make a statement on the matter. [34719/14]

Michael Noonan (Limerick City, Fine Gael)
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The provision of mortgage products by a financial institution is a commercial decision for the lending institution concerned. I am informed by the Central Bank of Ireland that it does not comment on individual products.

The Construction Strategy sets out a comprehensive strategic approach to housing that is being undertaken by Government. As part of this strategy, I am committed to examining international best practice and developing proposals for additional models of mortgage financing in Ireland to ensure sustainable levels of mortgage lending in the medium term. However, my officials are not currently researching non-recourse mortgages. 

Mortgage lending decisions must be undertaken on a sustainable and prudential basis. They must also conform fully with the regulatory requirements of the Central Bank, both in relation to the financial institution itself, and in particular to the safeguarding of the borrower's interests.