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Clare Fianna Fáil candidate wants mortgage rules to be relaxed

A Clare Fianna Fail candidate in the General Election will campaign for the the relaxation of Central Bank mortgage rules. 

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Currently, first time buyers must have saved 10% of the cost of a house before they can be appoved for a mortgage, as part of efforts to curb irresponsible lending. 

Michael McDonagh says he feels many young people are now in a position to buy a house. 

However, he claims the current rules are too restrictive and people are being hamstrung when trying to get onto the property ladder. 

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