Group to hand in petition against new mortgage regulations

A petition will be handed into the Central Bank today demanding the reversal of new rules on mortgage deposits.

Newly formed protest group 'Uplift' have collected signatures from people who are against the new 20% deposit for home loans.

The controversial regulations, which are aimed at reducing the risk of another property bubble, have been criticised as unfairly targetting first-time buyers.

Governor of the Central Bank Patrick Honohan, has indicated there could be an easing of the rules and Director of 'Uplift' Siobhán O'Donoghue says the public expect something better.