What do Central Bank tweaks mean for home buyers?

The changes could, on balance, make things a little easier for first-time buyers - but with supply tight, getting a mortgage is only half the battle

29th November, 2017
Central Bank deputy governor Sharon Donnery, governor Philip Lane and deputy governor prudential regulation Ed Sibley. Pic: RollingNews.ie

In early October 2014, a consultation paper outlining plans for bigger deposits and smaller loans was published. It indicated that the Central Bank wanted to impose 20 per cent deposits across the board for all home-buyers.

Banks saw a flurry of mortgage applications in the run-up to Christmas 2014 as potential buyers rushed to get their mortgage over the line before the rule change.

Ultimately, the rules introduced in early 2015 were a little watered down, after the...

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