Central Bank Rules for First Time Buyers 

Loan To Value:

• First Time Buyers need to have a minimum deposit of 10%.    

Loan To Income:

• The LTI limit restricts the amount of money you can borrow to a maximum of 4 times your gross income. 

Help-To-Buy Scheme

The Help-to-Buy scheme is scheduled to run until 31 December 2024 having been extended by the Government in the 2023 Budget. For New Properties only and all applicants must be First Time Buyers. Help-To-Buy scheme provides rebate of up to 10% of purchase price, Max is €30,000/€500,000 price. Must borrow at least 70%. Rebate based on income tax paid over the 4 years prior to purchase.

Fixed or Variable Interest Rate

Knowing your facts when it comes to your mortgage interest rate is very important. A Fixed Rate will give you the security of knowing what exactly your mortgage repayments will be for a certain period of time, for example 2 years, but with a Variable Rate mortgage your repayments fluctuate with the economy.

First Time Buyer 2 Year Fixed (LTV < 60%) available to First Time Buyers:

• Interest rate is 3.50% for 2 years
• APRC is 2.9%
• Maximum Loan-to-Value is 60%
• Maximum term 35 years

First Time Buyer Variable Rate (LTV 60-80%) available to First Time Buyers:

• Interest rate is 3.70%
• APRC is 3.1%
• Loan-to-Value between 60% and 80%
• Maximum term 35 years

Significant savings available both on monthly repayments & overall interest charges.

One size does not fit all, your own bank offers just 1 product. 

First Time Buyer Example

3 Bedroom Duplex Price: €310,000

Mortgage: €279,000 (90%)
Rate: 3.50%
Loan Term: 30 years
Monthly Repayment: €1,252

We Offer

Special Legal Package
Free Property Valuation

Your Contribution:

Savings/Gift – €15,500
Help To Buy – €15,500 (if qualify)