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Central Bank to review mortgage rules, says governor

The controversial Central Bank mortgage rules, which have particularly affected first-time buyers, will be reviewed in the summer, the bank’s new governor has said.

His comments in an interview with The Irish Times mean mortgage applications throughout the spring and early summer – the busiest time for house sales – will continue to be carried out under the current rules.

And with a review due to start in the summer, it is likely to be well into the autumn or even later before any changes might be made.

Under the rules first-time buyers usually need a deposit of 10 per cent of the first €220,000 cost of a home, and 20 per cent of the remainder of its value.

Read the full details in the Irish Times

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