Mortgages

kazza90210

I have found a housethat I would really like to purchase and that has been reduced to a bargain price. the only problem is I know I wont be able to get a mortgage or will I? really my question is anywhere giving mortgages to first time buyers and how much would i need to have as a desposit for a mortgage of around €325,000?

thanks

Wile E. Coyote

Bank of Ireland launched a €1billion fund for lending to first time buyers at an initial rate of 2.45% fixed for the first year. As part of the recapitalisation they must provide an additional 30% capacity for lending to first-time buyers. As far as I know AIB are doing the same thing. Not sure how much of a deposit you'd need but the more you have the better your chances are.

http://www.rte.ie/business/2009/0217/mortgage.html

ntlbell

kazza90210 wrote: »

I have found a housethat I would really like to purchase and that has been reduced to a bargain price. the only problem is I know I wont be able to get a mortgage or will I? really my question is anywhere giving mortgages to first time buyers and how much would i need to have as a desposit for a mortgage of around €325,000?

thanks

why not call into a bank and ask?

they generally be able to answer you directly instead of us all guessing.

most banks are offering 92% so for most banks you will require at least 8-10%

kazza90210

thanks guys for the replies, I suppose I will just have to approach the banks and see the worst they can say is no

Moonbeam

10 to 20%

the_syco

kazza90210 wrote: »

thanks guys for the replies, I suppose I will just have to approach the banks and see the worst they can say is no

There's some sort of mortgage plan. The Sunday Indo was talking about the low uptake of it. Forget the title of it. Seems to be for people who couldn't get a loan cos the tightening of the banks purse strings?