Central Bank (Variable Rate Mortgages) Bill 2015

Public bill · Private Member · Introduced

The proposal would require the Central Bank to review competition and variable mortgage rates for people’s main homes at least every three months, and allow it to direct lenders to lower rates it considers unjustifiably high. Lenders could not charge existing customers more than new customers for comparable mortgages, with court orders, fines and compensation available for breaches.

Formal long title

Bill entitled an Act to provide for measures to address market failures in the market for principal dwelling house mortgage loans, and to provide for related matters

Last updated 12 April 2018