Advertisement

VIDEO: Petition demanding reversal on new mortgage deposit rules delivered to Central Bank

Protesters have handed in a petition calling for the Central Bank to ease its new rules - which w...
Newstalk
Newstalk

07.41 8 Dec 2014


Share this article


VIDEO: Petition demanding reve...

VIDEO: Petition demanding reversal on new mortgage deposit rules delivered to Central Bank

Newstalk
Newstalk

07.41 8 Dec 2014


Share this article


Protesters have handed in a petition calling for the Central Bank to ease its new rules - which will force house buyers to save a 20 per cent deposit before being given a mortgage.

Newly formed protest group 'Uplift' have collected 500 signatures from people who think it's unfair to ask applicants for a 20% deposit in order to take out a home loan.

The regulations are designed to reduce the risk of another property bubble and were due to come into force in January.

Advertisement

However they've been heavily criticised for making it difficult for first-time buyers.

The Central Bank Governor, 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:

The Finance Minister, along with each of the country's major lenders, have called for the tightened rules to be changed or at least phased in gradually.

The deadline for public submissions on the guidelines will close today ahead of their introduction in January.

Uplift handed in the petition today:


Share this article


Read more about

News

Most Popular