Central Bank move on Mortgage rules
  • November 23, 2016
  • News
Central Bank move on Mortgage rules

Some good news for those returning who want to buy  their new home .

The Central Bank has made a big change to its mortgage rules in a move that will make it easier for new buyers to get a mortgage .

First -Time buyers will now be able to borrow any amount with a deposit of 10% .

Up to now new borrowers could have been approved for a mortgage with a deposit of 10% for borrowings up to € 220,000 .

They needed a 20% deposit for all amounts over that .

The new rules mean that a first-time buyer purchasing a home for €300,000 will qualify for a mortgage approval with a deposit of € 30,000

The decision is good news for returnees who may have saved for a depot while working abroad .