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Irish c.bank says will tighten mortgage restrictions if needed

Reuters - UK Focus

DUBLIN, Jan 28 (Reuters) - Ireland (Other OTC: IRLD - news) 's central bank will tighten new mortgage restrictions if they prove not to be tough enough or if there is evidence of a property bubble emerging, governor Patrick Honohan said on Wednesday.

The central bank offered relief to first-time house buyers when it finalised new regulations on Tuesday that will introduce curbs on mortgage lending aimed at avoiding a repeat of the devastating 2008 property crash.

"We reserve the right to tighten them and ramp them up," Honohan told a news conference, adding that if the new rules prove to have been introduced in good time, this shouldn't be needed. (Reporting by Padraic Halpin; Editing by Hugh Lawson)