Central Bank could relax mortgage rules

Central Bank governor Patrick Honohan has signalled that there could be an easing of the rules that will require mortgage applicants to stump up a 20% deposit.

Last month, the Central Bank said that, from the start of 2015, new lending rules would mean that vast bulk of house buyers would have to put down a 20% deposit on the value of the property and there would be a limit of 3.5 times income.

However, at a speech to be delivered later today, Mr Honohan will outline the role mortgage insurance could play in enabling some customers secure higher loan-to-value mortgages.