Question 1

What does the Central Bank (Variable Rate Mortgages) Bill 2022 do?

Accepted Answer

Central Bank must assess mortgage market competition quarterly, examining interest rates, borrower switching ease, lenders' costs, and profit margins to identify market failures. Where rates unjustifiably exceed costs, Central Bank can direct lenders to cap variable rates by specific amount, margin, or market average; breaches enforced via High Court with doubled-profit fines. Lenders prohibited from charging existing and new borrowers different rates for same loan category; breaches trigger court compensation orders and doubled-profit fines.

Question 2

What stage is the Central Bank (Variable Rate Mortgages) Bill 2022 at?

Accepted Answer

As of 2 May 2025, the Central Bank (Variable Rate Mortgages) Bill 2022 is at Second Stage in 33rd Dáil. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Central Bank (Variable Rate Mortgages) Bill 2022?

Accepted Answer

The Central Bank (Variable Rate Mortgages) Bill 2022 was sponsored by Ged Nash, and was introduced on 28 Jun 2022.

Central Bank (Variable Rate Mortgages) Bill 2022

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