House prices and mortgage approval

 

Sir, – Eoin Burke-Kennedy writes that “large-scale income supports are undoubtedly driving” a rise in property prices (“How are property transactions accelerating when viewings aren’t allowed?”, Business, April 26th).

As things stand, no bank in the country will approve a mortgage for anyone whose employer is availing of the wage subsidy scheme. The same applies to anyone in receipt of the pandemic unemployment payment. Income supports have in fact erected new obstacles in the way of gaining mortgage approval. – Yours, etc,

MATTHEW

PARKINSON-BENNETT,

Dublin 7.