Central Bank shuts down hopes of mortgage deposit rate cut

Hopes that a new government would see a relaxation of the Central Bank’s controversial mortgage lending limits have been dashed, as the bank has said they are “here to stay”.

Since the introduction of the 20% deposit requirement and stricter loan to earnings limits, the Central Bank has come under huge political pressure to relent, but the bank is now insisting the tough rules will remain.

As reported in the Irish Examiner on Saturday, a key demand from the Independent Alliance revolves around the issue of mortgages and debt.