Michael McGrath (Cork South Central, Fianna Fail)
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152. To ask the Minister for Finance the number of persons that availed of exemptions under the Central Bank’s macro-prudential mortgage rules by first time buyers and second and subsequent buyers each month since the establishment of such rules; and if he will make a statement on the matter. [48872/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank mortgage lending measures are now in place as a permanent feature of the market and are operating in line with their stated objectives of enhancing the resilience of banks and borrowers to future shocks and reducing the risk of credit - house price spirals from developing.

The Central Bank introduced proportionate limits specifically to allow flexibility by lenders when assessing individual cases. The proportionate limits mean that lenders are able to make decisions based on an individual borrower’s circumstances up to a specific limit. Lenders are still required to assess an individual borrower’s affordability and lend prudently on a case-by-case basis, in line with the requirements of the Consumer Protection Code and other regulations.

The Central Bank advises that the table below provides the number of principal dwelling home loans drawn-down for each month since the introduction of the Central Bank mortgage measures that were issued above either the loan-to-value or loan-to-income limits.

Number of Loans Drawn-down with Allowances