Seanad debates

Tuesday, 18 November 2014

3:15 pm

Photo of Katherine ZapponeKatherine Zappone (Independent) | Oireachtas source

At the outset, I thank Senators Bacik, Moran and others for their comments on what happened over the weekend and for that support. Just as I was walking into the Chamber I met Deputy Twomey, who asked me whether it was as bad as it looked. I replied that it was.

However, I wish to raise an issue today related to the Central Bank of Ireland's proposed mortgage rules, which I believe all Members are aware are scheduled to take effect from 1 January. Members also are aware that these measures will require that most people put down a 20% deposit when buying their new home. There has been some discussion about this proposal subsequent to that statement but I welcome the Central Bank's efforts to prevent another overheating of the credit and property market.

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