Wednesday, Nov 19, 2008
Mortgage lenders to demand 20pc cash deposits
Independent IE: Mortgage lenders to demand 20pc cash deposits
THE housing market suffered a new blow after it emerged last night that house buyers will have to come up with at least 20pc of the value of properties they plan to buy.
The move will mean buyers will have to produce deposits of €54,000, based on the average price of a house at the moment.
One of the largest lenders in the State, KBC Homeloans said it would now only provide mortgages for 80pc of the value of homes.
Mortgage market experts said other lenders were now likely to follow KBC.
Posted by mark @ 11:18 AM (172 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.