The Central Bank Expands Borrower Conditions

RÚV

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The Central Bank has decided to increase the maximum mortgage ratio for first-time buyers of real estate from 85% of the property valuation to 90%. This means that first-time buyers can get up to 90% of the property value for a loan. The maximum for other borrowers is still 80%. This is stated in an announcement from the bank's Financial Stability Committee. The decision was made in light of uncertainty in the credit market following the Supreme…

Vísir

Factuality

Ownership

The Financial Stability Committee of the Central Bank of Iceland has decided to make changes to the Central Bank's rules on the maximum loan-to-value ratio for consumer mortgages and increase the maximum for the purchase of a first property from 85 percent to 90 percent. The maximum loan-to-value ratio for other borrowers remains unchanged at 80 percent.