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First-time buyers to get savings top-up in Budget housing plan

Central Bank proposals would allow credit unions 'to offer home loans in a meaningful way'


The Central Bank has called for feedback on a report it has published outlining potential changes to the lending framework for credit unions.

Proposals listed in the document CP125 emerged following a review of the existing processes, which was undertaken this year.

According to the Central Bank, the proposals are to ensure the financial stability of credit unions and the protection of the funds of its members.

The proposed amendments include the removal of lending maturity limits which cap the percentage of credit union lending which may be outstanding for periods of greater than five and ten years.

An introduction of concentration limits, on a tiered basis, for home mortgage and commercial loans expressed as a percentage of total assets has also been mooted.

The report also seeks to clarify the scope and parameters for commercial lending, to reflect credit union focus on local owner managed business lending.

"Recent research found that over 59pc of credit union members would consider switching their mortgage to a credit union if a better deal was offered. It should provide credit union members with greater options when become homeowners within their own communities," 


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We offer clients a full estate agent service including Property and Land Sales by Auction and Private Treaty, Valuations, Property Management, Lettings and Agri-Entitlements . Also Livestock Sales and Valuations for All purposes i.e. Insurance, Probate and Clearance/Reduction Sales.
Contact us at Robert Nixon & Co for a professional and friendly service when buying and selling property in the Meath, Cavan and surrounding areas. Our office is centrally located in Kells, Co. Meath.