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Mortgage Lending Rules To Be R...

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Mortgage Lending Rules To Be Reviewed

98FM
98FM

07:28 8 Jan 2016


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The controversial Central Bank mortgage rules will be reviewed in the summer.

The restrictions have particularly affected first time buyers.

 

It's reported the new governor of the Central Bank Professor Philip Lane will examine the new lending rules when a full year of data becomes available in the summer.

At the moment first time buyers have to save at least 10 percent of the cost of the property.

The move has affected potential home owners in Dublin the most because they have to cough up substantial deposits.

Applications through the spring and summer will be carried out under the current rules.

The Central Bank boss says the new lending rules are here to stay but stressed that they could be tightened or loosened in either direction.

 


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