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Dublin: 4 °C Thursday 18 January, 2018

Poll: Should a person's rental history help them to get a larger mortgage?

At present, the amount a person can borrow is governed by the Central Bank’s mortgage rules, first introduced in 2015.


TOMORROW, A BILL is to be launched in the UK House of Lords (by Lord John Bird, founder of the Big Issue magazine) in an attempt to have a person’s rental records included amongst the criteria used to assess their credit score.

The thinking behind the bill is that UK citizens with perfect rental records are being subjected to more punitive repayment schemes for goods than those who own their own home.

In theory, the bill could see long-term renters rewarded for their years of rental payments in terms of a mortgage application, for example.

When applying for a mortgage in Ireland, meanwhile, generally a person’s previous six months of bank statements are taken into account to assess their suitability for a loan.

However, the amount that an Irish bank will actually lend is governed by the Central Bank’s mortgage rules – which sees an aspiring borrower limited to a loan 3.5 times the size of their gross income.

But should a person’s rental history be justification for granting a larger mortgage?

We’re asking: Should a person’s rental history help them to get a larger mortgage?

Poll Results:

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