Carlow Councillor calls for review of Central Bank’s new mortgage rules

A local councillor is calling on the government to review the implementation of the central’s banks new rules on deposits for house purchasers.

Carlow councillor Jennifer Murnane O’Connor says the rental market is under pressure in Carlow and this would only add to it.

Her comments come after MEP Brian Hayes urged the Central Bank not to go ahead with the new rules which would see house buyers have to save 20 percent of the value of the house.

The Fianna Fail Councillor says the 20 percent deposit will put people off applying for a mortgage.