However, following a year long review of the situation, it is expected that the regulator will announce that it intends to ease that to four times income.These require first-time buyers to have a deposit worth at least 10% of the value of the property, while second time and subsequent buyers must have 20%.Any alterations to the measures are not expected to come into effect until next year.
The rules were put in place by the Central Bank in 2015 to prevent a repeat of the credit-fuelled property bubble that led to the financial crash here over ten years ago. The rules are reviewed annually by the Central Bank, which has long maintained that they are having the desired effect. As part of that a consultation was carried out with a range of stakeholders including borrowers, banks and others.
Just as asking prices for houses are starting to fall. Stink. Central bank shd be ashamed of themselves
And we're off, tomorrow the first puffs of wind into the market that soon will be known as 'The Property Bubble'. Hold on tight.....
It's amazing the money that becomes available when interest rates are high!
2008 all over again.
Property prices starting to fall Apply shit-patch… FYI- it won’t change a thing…
Ah nice one. That'll fix everything.
Just to ensure that the price of housing will continue to rise!
Nobody learning from 2008, it was 2.5 time's then, Put people in so much debt, they'll never own it, but the Banksters will take it and still expect them to cover the excess for the rest of their lives, You'll Own Nothing But You Vill be Happy,
Just what the young ppl of ireland need…rather than actually ensuring housing is affordable let’s make lending easier. More debt. Lovely jubbly….
Just in time for the crash
Here we go again!
Irish establishment answer to unaffordable housing: put people in yet more debt so that developer's pockets continue to be lined.
Property Property Latest News, Property Property Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: IrishTimesBiz - 🏆 6. / 77 Read more »