Sunday April 5, 2020

VIDEO: Central Bank chief explains mortgage rules stance

Regulator loosens deposit rules for first-time buyers

23rd November, 2016
23/11/2016. Reviews of Mortgage Measures. Pictured (L to R) Deaputy Governor, Sharon Donnery Governor, Philip Lane and Mark Cassidy Head of Financial Stability  at The Central Bank of Ireland in Dublin today. The Central Bank of Ireland announced the outcome of the review of the mortgage measures, following an extensive consultation and evaluation process. Pic:

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.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Every time Donald Trump spoke on the Covid-19 crisis last week, the stock markets plunged by another point

Marion McKeone | 3 weeks ago

Big tech firms pledge to pay contract staff through the social-distancing period

Emmet Ryan | 3 weeks ago

Further action may be needed to prevent the Irish economy being sunk, particularly when the global economy remains vulnerable

Ian Guider | 3 weeks ago