Dec. 9 (Bloomberg) -- Allied Irish Banks Plc cut the maximum amount it will lend for a one-bedroom apartment to 75 percent of the value of the property from 92 percent.
Details of the cut were contained in a letter sent by the Dublin-based lender to mortgage brokers this week, seen by Bloomberg News. Allied Irish spokeswoman Helen Leonard confirmed the contents of the letter, saying the cut aligns the bank to other lenders in the market given “significant” decline in value of one-bedroom apartments in Ireland.
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