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Deposit for first time buyer

silvaher · 2022-09-06 11:23:38

Hi, I'm aware that for first-time buyer, there's a minimum deposit of 10% if you’re buying your first home. Question I have is could I instead decide to put a deposit of around 12 to 15 percent? Would I be prevented from doing this?

06-09-2022 12:23pm

#1

silvaher

Registered Users Posts: 4 ✭

Join Date: August 2022

Posts: 2

Hi, I'm aware that for first-time buyer, there's a minimum deposit of 10% if you’re buying your first home. Question I have is could I instead decide to put a deposit of around 12 to 15 percent? Would I be prevented from doing this?

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Comments

#2 06-09-2022 2:05pm

Bank of Ireland: Eve

Closed Accounts Posts: 309 ✭✭

Join Date: January 2020

Posts: 309

Hi there, thanks for your post here on Boards.ie.
In this case you would need to discuss this with one of our mortgage advisors.
You can contact our Mortgage team on 016113333 and one of my colleagues would be happy to offer further advice and guidance.
The team are available from Monday- Friday between 9am- 5pm.
Thanks, Eve

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#3 06-09-2022 2:10pm

CrookedJack

Registered Users Posts: 587 ✭✭✭

Join Date: October 2005

Posts: 544

A more helpful reply would be that yes, of course, you can have a deposit of greater than 10%, 10% is the minimum. No banks will refuse you having a higher deposit as it limits their risk.

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