First time buyers get mortgage boost

14-Jul-2005

The popularity of 100 per cent mortgages looks set to continue, following moves by one Irish lender to offer first time buyers mortgages to the full value of the purchase price.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK’s leading High Street Brokers, Bradford and Bingley

First Active has announced that first time buyers in Ireland will now be able to borrow the full value of their property, making it far easier for them when finding a deposit.

And aspiring homeowners in the UK are encouraged by the sign, as it could spark more UK-based lenders to offer mortgages more tailored to first time buyers as a way of helping the country bring in more young people onto the first rung of the housing ladder and boost the flagging housing market.

Click here to ask about the legal costs of house-buying or to ask a legal question specific to your own situation

Many financial institutions are looking at ways to increase the number of first time buyers in the market. First Active's Brendan O'Hora explains that many aspiring first time buyers could easily afford to repay a full value mortgage, but finding such a mortgage is the major hurdle for most.

Click here for our first time buyers guide

Click here for further information on finding a deposit

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