Up to 90% Mortgage Lending for First Time Buyers
In January 2015 the Central Bank of Ireland announced – to the relief of prospective first-time buyers – that there will be 90% loans available for first-time buyers. Under these new rules the 90% will only be up to a limit of €220,000. A 10% deposit will be required for the first €220,000 and 20% deposit for the amount above the limit.
Patrick Honohan the Central Bank Governor has reported that around 50% of the homes being purchased by first-time buyers in the Dublin region are below the above limit.