We were quoted in a this piece by Aoife Valentine of the Irish Times which was an interesting article about the situation renters face.
When discussing the rising age of first time buyers she quoted us as we mentioned that “this is something that’s become very obvious to mortgage broker Karl Deeter.
“When I started working in lending in around 2003, people in their 20s were borrowing. Nowadays, your typical applicant is no longer 24 to35, they’re 30 to 40,” he says.
New mortgage lending rules issued by the Central Bank in January say that first-time buyers may borrow only 3-and-a-half times their gross annual income, and they must save a 10 per cent deposit on the first €220,000 of the value of the property and a 20 per cent deposit on any higher value.
Deeter believes these rules are now having an effect on who gets on the property ladder.
“What the deposit rules have done is keep people in the rental sector when they otherwise would have been …