First-time buyer guide · Ireland
Everything a first-time buyer needs to know — how much you can borrow, the deposit you need, the government schemes, the documents, and the step-by-step process.
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For mortgage purposes, a first-time buyer is someone who has never previously taken out a mortgage to buy or build a home — on their own or jointly. The Central Bank of Ireland uses this status to apply more generous lending rules, and it's also the gateway to the main government supports.
The benefits of first-time-buyer status are real: a higher income multiple (4× vs 3.5× for movers), a lower minimum deposit (10% vs 20%), and access to Help to Buy and the First Home Scheme. If you're buying jointly and one of you has owned before, you may still qualify under the Fresh Start principle in certain circumstances — worth checking.
The headline limit is 4× your gross annual income, subject to affordability and the lender's stress test. That's higher than the 3.5× cap that applies to most second-and-subsequent buyers.
Worked examples (income × 4.0, before deposit):
A limited number of exemptions above 4× are released by each lender annually. They're not guaranteed, and we'll tell you honestly whether you're a realistic candidate rather than letting you build a plan on one.
The minimum is 10% of the purchase price (90% loan-to-value) — half the 20% most movers must put down. On a €300,000 home, that's a €30,000 deposit.
Two schemes can reduce what you need from your own savings: Help to Buy provides up to €30,000 toward the deposit on a new build, and the First Home Scheme can bridge more of the gap with a state/lender equity share. Used together, they can dramatically lower the cash you personally need to have saved.
We can advise on which of these schemes may apply to your situation and match you to the lenders that participate.
Lenders also look closely at your savings and spending pattern — evidence that you can consistently save the equivalent of your future mortgage repayment is one of the strongest things in your favour.
Yes. First-time buyers are well catered for in Ireland — you can borrow up to 4× your gross income (a higher limit than movers, who are capped at 3.5×) and need only a 10% deposit. Government schemes like Help to Buy and the First Home Scheme are designed specifically to help first-time buyers bridge the deposit and affordability gap.
Most lenders lend up to 4× your gross annual income as a first-time buyer, subject to affordability. On a €60,000 income that's roughly €240,000; on a €90,000 joint income, about €360,000 — plus your deposit. A limited number of exemptions above 4× are released each year. Our free eligibility check checks your exact figures against the lenders on our panel.
First-time buyers need a minimum 10% deposit (90% loan-to-value), compared with 20% for most movers. On a €300,000 home that's €30,000. Help to Buy can provide up to €30,000 toward the deposit on a new build, and the First Home Scheme can bridge more of the gap — so your own savings requirement can be considerably lower.
Yes, if you're buying or building a new home. Help to Buy is a tax refund of up to €30,000 (or 10% of the purchase price, whichever is lower), available to first-time buyers on new builds only. It's paid toward your deposit. We factor your likely Help to Buy entitlement into your assessment.
From a complete application, approval in principle typically takes one to two weeks; from there to drawdown depends on the property, valuation and your solicitor — usually a few weeks to a couple of months. Having your documents ready up front is the single biggest factor in moving quickly, and we tell you exactly what's needed.
You don't have to use one, but a broker compares across our lender panel, checks your eligibility against each lender's real criteria before you apply, and handles the paperwork — which matters most when it's your first time and you don't know where to start. Our free eligibility check costs nothing; our fee is €300, paid once when you proceed to a full assessment — and that's it: it covers your full assessment, preparing and submitting your application, and support at every step through to the day the keys are in your hand, with no second fee at any stage.
See what the lenders on our panel would offer a first-time buyer with your figures — free, no registration, no credit check. Then speak to Francis whenever you're ready.
Warning: If you do not keep up your repayments you may lose your home.
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