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New mortgage rule will 'confine purchases to the rich'

Siptu has called on the Central Bank to abandon plans to require home buyers to have a 20% deposit t...
TodayFM
TodayFM

6:33 PM - 20 Jan 2015



New mortgage rule will 'co...

Lunchtime

New mortgage rule will 'confine purchases to the rich'

TodayFM
TodayFM

6:33 PM - 20 Jan 2015



Siptu has called on the Central Bank to abandon plans to require home buyers to have a 20% deposit to buy a house. 

The Central Bank governor Patrick Honohan said a decision will be made in the “coming days”.

The new rules are designed to cool a recovering housing market.

But Siptu General President, Jack O’Connor said, if implemented as currently envisaged, “would put home ownership beyond the reach of thousands of individuals and couples.



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