Decision on 20% mortgages deposit rule due in days

Decision on 20% mortgages deposit rule due in days

The Governor of the Central Bank Patrick Honohan has said a decision on if a 20% deposit will be required to secure a mortgage will be made in days.

The Central Bank has carried out a public consultation on the matter, which Honohan added will inform their decision.

It has been suggested that prospective buyers should have one fifth of the cost of a house saved before being granted a mortgage for the rest of the value.

However, critics have said this will be impossible for ordinary savers, particularly in raising the capital.

More in this Section

Irish Ferries among eight firms approved by UK govt to bid for Brexit freight contractsIrish Ferries among eight firms approved by UK govt to bid for Brexit freight contracts

Taoiseach vows action to prepare jobs market for automationTaoiseach vows action to prepare jobs market for automation

Google plans to invest €3bn in EuropeGoogle plans to invest €3bn in Europe

We deal with uncertainty every day: Dover port boss dismisses Brexit chaos fearsWe deal with uncertainty every day: Dover port boss dismisses Brexit chaos fears


Lifestyle

As he launches his latest cookbook, Donal Skehan talks to Clodagh Finn about juggling his career and family, and why a heavy workload has left him with a few grey hairs.Getting back to basics with Donal Skehan

Venetia Quick, co-founder of ‘Grief Encounters’ tells Ruth O’Connor that there is no right or wrong way to grieve the death of a loved one.Grief Encounters: Podcast opening up conversation about bereavement

Once again for this week’s review I was reminded about the quality of Irish meat — and yet it seems the meat processors expect our farmers to produce it at a loss.Restaurant Review: Mister S, Camden St Upper, Dublin 2

Your guide to what's going on in the gardening world this week.Gardening notes: Your guide to what's on

More From The Irish Examiner