Subject to compliance with all relevant legal and regulatory requirements governing the provision of mortgage credit to consumers (including the requirements in relation to 'Knowing the Consumer and Suitability' and to make a thorough assessment of the consumer's creditworthiness and to calculate the market value of the residential property which will act as security for a mortgage loan), the decision on whether or not to provide mortgage credit to potential customers remains a commercial decision for lenders. Each lender will also have its own individual credit lending policies and lenders will also make their lending decisions in the context of such policies. Therefore, when assessing an application for mortgage credit the lender assesses the borrower's creditworthiness and suitability for the loan and will also take into account other matters as necessary or considered appropriate to the consideration of an application for mortgage credit; this will or could include the value or condition or other relevant matter associated with the property which will act as security for the mortgage loan.
However, if a consumer (including a potential consumer) is concerned or unhappy with how their mortgage application has been dealt with by a firm regulated by the Central Bank, there are clear processes in place in the Consumer Protection Code 2012 for handling complaints and complaints resolution. In addition, where a consumer is not happy with the response received from the regulated firm he/she can escalate his/her complaint to the Financial Services and Pensions Ombudsman (FSPO). The FSPO has the statutory powers to investigate complaints against financial services providers.