Irish mortgage loan lenders forced to introduce stricter tests on affordability
Oct 19th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Central Bank of Ireland today published a revised Consumer Protection Code (2012 Code), which comes into effect from 1 January 2012 for regulated financial firms. The Bank says the publication of the revised statutory code represents the most significant strengthening of protections for consumers of financial institutions since the launch of the initial Code in August 2006. The code requires Irish mortgage loan lenders to introduce stricter tests on affordability.