This is because a sudden jump from a requirement of a deposit of 10pc to a 20pc one could be very disruptive and unfair to those who are close to getting a 10pc deposit together, consumer advocate Brendan Burgess said in a submission to the Central Bank.
Mr Burgess agrees with the new limits, but says they will make it difficult for potential new buyers to get on the housing ladder. He said the key problem was a shortage of housing.
The restrictions will exacerbate the problem, so it may be wise to amend them for new homes.
Read the full story in the Irish Independent
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