Decision on 20% deposit expected within days

Decision on 20% deposit expected within days

The Governor of the Central Bank Patrick Honohan has said a decision on if a 20% deposit will be required to secure a mortgage will be made in days.

The Central Bank has carried out a public consultation on the matter, which Honohan added will inform their decision.

It has been suggested that prospective buyers should have one fifth of the cost of a house saved before being granted a mortgage for the rest of the value.

However, critics have said this will be impossible for ordinary savers, particularly in raising the capital.

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  1. Pingback: Decision on 20% deposit expected within days | Rosalie Rodney

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