It has been recently been revealed by the Governor of the Central Bank Patrick Honohan that a definite decision will be made regarding the proposed new legislation that will see prospective home buyers having to place a 20% deposit in order to secure a mortgage.
Mr Honohan has revealed that the Central Bank has conducted a public consultation on the controversial matter, which Honohan claims that will have a significant input on their decision.
The announcement comes after it has recently been suggested that those wishing to purchase a future home should have at least one fifth of the cost of their desired property saved before being granted a mortgage for the remaining value of the property.
Although the proposed legislation has come in for strong criticism amongst the public with many believing that raising such amounts will be impossible for ordinary savers with relatively low income.