Banks may talk about lending but it’s not happening, says one insider who maintains that mortgage managers are wary of signing off on loans in case they “get into trouble”.

A reader bears this out, having applied to AIB, his bank for 20 years, for a mortgage which, he says, represents less than 20 per cent of the value of the property in question. After endless form filling he has been asked for audited accounts showing profit and loss, admin expenses and a balance sheet, while his wife has to submit pay slips going back six months. Even with all this the bank is dithering. What hope does someone looking for a 70 per cent mortgage have?