The Governor of the Central Bank says the new rules on mortgage lending are designed to stop people buying homes they can'Â’t afford.

Under the new regulations, first time buyers will have to save a 10 percent deposit on loans up to 220 thousand euro, but those seeking to trade up, will have to save the full 20 percent.

Commentators say that it will make it very difficult for those looking to buy a home in Dublin.

Juliette Gash reports;