Brendan Burgess
Founder
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First time buyers - very little impact
Loan to income: 3.5 times.
Loan to Value: 90% of the first €220,000, and 80% of the balance over €220,000
Exemptions
If you have a valid Approval in Principle before the regulations are official ( probably early February), you are not affected.
The lender can exceed the LTV limits in some circumstances, so even if you want to borrow 90% of €300,000, there is a good chance that you will get it.
The lender is allowed to exceed the 3.5 times LTI for 20% of its new lending in any one year.
What is a first time buyer?
A first time buyer is defined as a borrower to whom no housing loan has
ever before been advanced. Where the borrower under a housing loan is
more than one person and one or more of those persons has previously been
advanced a housing loan, none of those persons is a first-time buyer.
(page 8 of [broken link removed])
Loan to income: 3.5 times.
Loan to Value: 90% of the first €220,000, and 80% of the balance over €220,000
Exemptions
If you have a valid Approval in Principle before the regulations are official ( probably early February), you are not affected.
The lender can exceed the LTV limits in some circumstances, so even if you want to borrow 90% of €300,000, there is a good chance that you will get it.
The lender is allowed to exceed the 3.5 times LTI for 20% of its new lending in any one year.
What is a first time buyer?
A first time buyer is defined as a borrower to whom no housing loan has
ever before been advanced. Where the borrower under a housing loan is
more than one person and one or more of those persons has previously been
advanced a housing loan, none of those persons is a first-time buyer.
(page 8 of [broken link removed])
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