Mortgage providers to restrict rural lending

We were mentioned in the Irish Independent today in a story about lenders restricting mortgage credit in rural areas. They are doing this by lowering LTV’s or coming up with requirements on population size for LTV’s (Loan to Values).

Mortgage broker Karl Deeter of Irish Mortgage Brokers said lenders were now discriminating against those seeking loans to buy property in rural areas. “If you are not buying in Dublin, Cork, Limerick or Galway cities they do not want to know. This is all part of a growing trend to discriminate against properties outside of the cities,” Mr Deeter said.

One Comment

  1. John McCabe

    Don’t the government and in effect we the taxpayer own these Mortgage Lenders? Why don’t they make them lend in rural areas in order to get the economy going again? Are the banks really the government in this country?

    John – Raheny

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