Troika backs 20% deposit for mortgages

There is still some doubt over whether house-buyers will need to have a 20% deposit saved before they can get a mortgage, according to Taoiseach Enda Kenny.

The troika, in Dublin for its second post-programme review, has said it will review the issue and will publish a comprehensive report early in the new year. Sources in Dublin suggested it favoured the proposal from the Central Bank.

It has advised the Government to continue austerity budgets to further reduce the deficit and lower the country’s debt of more than 110% of annual output.