THE CENTRAL BANK is looking to stave off another property bubble by introducing rules to limit the amount banks can lend borrowers to buy a home.

Full details of the lending cap are due to be announced later but it is expected that they will take account of how much a home costs and the size of a borrower’s deposit.

Governor Patrick Honohan said last night that banks used to follow similar rules themselves but abandoned them in “the post-millennial boom in Ireland”.

Today’s poll, Should there be a limit on how much you can borrow for a mortgage?

Poll Results:

Yes (5421)

No (761)

Don't know (246)

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