herald

Sunday 22 October 2017

Home buyers need 20pc

Mortgages

HOUSE buyers will be required to have bigger deposits from next year.

The Central Bank has outlined new rules it is planning to put in place.

It will insist that banks only give out a small number of mortgages where the buyers have a deposit of less than 20pc of the value of the property.

Experts said this would mean that a deposit of 20pc will now become standard. The rules could cool the Dublin property market, but make it more difficult for first-time buyers to get a mortgage.

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