Mortgage lockdown – – Our News, Your Views

Mortgage lockdown



There are calls for the Central Bank to relax its recently introduced rules on 20pc deposit before a mortgage is approved.

Some members within the Government cabinet are urging the institution to lower the deposit to 15pc, which they claim is more ‘sensible’ for first time buyers.

Strict new lending rules now also specify that the loan is capped at 3.5 times the borrower’s salary.

There are fears that potential new buyers may find themselves in a Catch-22 situation whereby they may not be able to save up for a deposit due to soaring rental prices.

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