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Getting A Mortgage - first time buyer
- Thread starter jpinblue
- Start date
In Ireland its fairly bad for people that bought during the boom. They may need to downsize/sell their apartment that suited them before the family but are in negative equity so have to take a loss on the sale and as they are no longer first time buyers they need 20% deposit in cash and can borrow up to 3.5 times salary so that is going to be very difficult to buy a family home now.
The flipside of the coin is that we are not building in Dublin so a lot of people are stuck between a rock and hard place and very little is moving. Things might get worse, don't believe the hype.
The flipside of the coin is that we are not building in Dublin so a lot of people are stuck between a rock and hard place and very little is moving. Things might get worse, don't believe the hype.