Minister criticises banks after home loans jump
11/07/2006 - 07:52:27The government minister with responsibility for housing has reportedly criticised banks for paying out €8bn in home loans during the first three months of this year.
The figure represents an increase of almost €3bn on the amount loaned in mortgages during the same period in 2005.
Reports this morning said Junior Minister Noel Ahern had expressed concern that the banks were willing to give out so much money to home-buyers, thereby, he said, fuelling the “hype” surrounding the property market.
He reportedly warned that the market cannot bear continually rising prices for too long and called on financial institutions to be “more prudent” in their lending policies.
