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Claims New Mortgage Rules Won’t Impact On Clare Buyers

An Ennis based auctioneer doesn't believe that new mortgage rules will have much of an impact on buyers in Clare.

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Under the rules introduced by the Central Bank, first time buyers will now need a 10 per cent deposit in order to get a mortgage on all properties, down from 20 percent on those over 220,000 euro.

It's hoped the move will encourage developers to start building, but it has led to fears of an increase in house prices.

Diarmuid McMahon of Sherry Fitzgerald McMahon in Ennis believes the rules will have more of an impact elsewhere in the country

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