Brendan Burgess
Founder
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It's interesting that if you want to buy a house in Northern Ireland, you will need only 5% of the purchase price and you can borrow up to 4.5 times your income.
The government will guarantee the bit between 80% and 95% to the bank in exchange for a fee.
From January, Irish borrowers will need a deposit of 20% and will get a maximum of 3.5 times their salary.
I am merely reporting this - I don't think that the government should be getting involved in such guarantees. In general, people with 5% deposit should be buying houses. I would make exceptions for a very low loan to income ratio.
The government will guarantee the bit between 80% and 95% to the bank in exchange for a fee.
From January, Irish borrowers will need a deposit of 20% and will get a maximum of 3.5 times their salary.
I am merely reporting this - I don't think that the government should be getting involved in such guarantees. In general, people with 5% deposit should be buying houses. I would make exceptions for a very low loan to income ratio.