The Central Bank has announced some changes to its mortgage restrictions following a long-awaited review.
The measures, introduced last year, are aimed at preventing another property bubble.
Under the current lending rules, first-time buyers must have a 20 per cent deposit if borrowing any more than €220,000, with a minimum deposit of 10 per cent below that threshold. Today, the bank lowered the minimum deposit for all first-time buyers to 10 per cent, scrapping the €220,000 ceiling.
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