The Central Bank has given approval for negative equity mortgages. This would allow people who are currently in negative equity to but a new house and carry the shortfall across to their new mortgage.
In reality it will only apply to high earning individuals who will, by taking the new mortgage, actually lower their LTV (Loan to Value ratio).
Banks will be able to offer this on a discretionary basis but the Central Bank has disallowed them to actively promote the offer. But note, if you currently enjoy a tracker rate on your current mortgage, this will be lost.
FS
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