Allied Irish CEO says revised mortgage rules "helpful"

DUBLIN, Nov 24 (Reuters) - The Irish central bank's revised mortgage deposit rules will help to remove blockages in the market and are likely to lead to some necessary short-term price rises for first-time buyers, Allied Irish Banks (Berlin: 30544177.BE - news) ' chief executive said on Thursday.

"We think it's helpful and going to help bridge the apparent real problem, which was people's inability to gather deposits," Bernard Byrne told a parliamentary committee a day after the rules were eased for first-time house buyers.

He added that prices for first-time homes are likely to rise in the short term, some of which is necessary to encourage properties onto the market. (Reporting by Padraic Halpin; Editing by David Goodman)