Central Bank (Variable Rate Mortgages) Bill 2022

Public bill · Private Member · Introduced

Aiming at variable-rate home mortgages, the proposal would require the Central Bank to regularly review whether competition in the market is working properly and to identify cases where lenders are charging rates that cannot be reasonably justified. If it finds a problem, the Bank could direct lenders to cap rates in set ways, stop them charging new borrowers less than existing ones for the same products, and ask the courts to enforce compliance, order compensation, and impose fines. It also requires the Bank to publish its findings and limits appeals against its decisions.

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 2 May 2025