Central Bank of Ireland eases burden on first-time buyers

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New mortgage rules make it easier for first-time buyers to borrow

The Central Bank of Ireland has made amendments to its mortgage lending rules, making it easier for first-time buyers to acquire a mortgage, the institution announced in a review published on November 23.

The central bank has abolished the €220,000 ($232,500) loan-to-value (LTV) threshold limit for first-time buyers, meaning they are now able to borrow up to 90% of the full value of a property. Some observers had expected the central bank to tweak the limit, but not remove it entirely.

Under the

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