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New Central Bank mortgage rules could be relaxed

The new 20% mortgage rules from the Central Bank look set to be relaxed. It comes as a new behavi...
Newstalk
Newstalk

08.30 25 Jan 2015


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New Central Bank mortgage rule...

New Central Bank mortgage rules could be relaxed

Newstalk
Newstalk

08.30 25 Jan 2015


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The new 20% mortgage rules from the Central Bank look set to be relaxed.

It comes as a new behaviour and attitudes poll reveals that one in ten of all Irish people aged in their 30s are currently living at home with their parents.

While the poll - on behalf of the Sunday Independent and Today FM - also shows that 37% live in private rental accommodation and less than one in ten are able to buy their own house.

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Of these in private rented accommodation, 41% have seen rent increases during 2014 - with just 3% experiencing a decrease.

The poll of 30 to 39-year-olds also finds that 20% of non-property owners in Dublin plan to buy over the next 12 months or so.

The paper is reporting that the Central Bank Commission will decide on the new mortgage rules next week - with the preferred option now a 15% mortgage deposit, rising by 1% each year over the next five years.

A majority (51%) of non-home owning 30-somethings believe that the proposed new mortgage lending regulations will make it more difficult for them to buy a home.

While 19% of feel the regulations will make no difference.

And 63% do not believe that banks are doing enough, while more than 70% feel that the government are also not helping.


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