No more home loans for First Time Buyers?

P

P27

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Hi All,

In yesterday's Sunday Tribune there was an article about a Mortgage Brokers meeting that took place last week, the underlying message of the article was that the traditional First Time Buyer Mortgage Providers - EBS,PTSB and First Active are no longer loaning to First Time Buyers, is there any element of truth in this notion?
Are 92% mortgages still the norm?
 
they are still loaning to FTBs, you will just find that the ratio of deposit to loan has changed hugely. You'll be lucky to get a 90% loan now.

Not a bad thing overall
 
From today's Irish Times

IIB Bank, the fifth largest mortgage lender in the State, told brokers on Friday that from today it would only count 80 per cent of the gross basic salary of property developers, builders, auctioneers, architects and others in the construction sector when approving new mortgages.

It is also capping mortgages on residential investment properties at 80 per cent of the value of houses in Dublin and 70 per cent of the value of Dublin houses and apartments on refinancing mortgages.

It has also limited new residential mortgages for investors to 70 per cent on houses in regional towns and capped new and refinancing mortgages for investment properties to 60 per cent of the value of apartments in the towns.
Click to expand...

Who is giving out 92% these days MrMan?
 
Esb still give 92%, infact they only dropped to 92 from 95 about 5 weeks ago.
But this is if you go direct to ebs , it may be different through a broker.
 
cromulent said:
From today's Irish Times



Who is giving out 92% these days MrMan?
Click to expand...

These restrictions apply to Buy To Let properties.

For owner occupiers, plenty of lenders still offer 92% for house purchases - AIB, ICS, Bank of Ireland, Permanent TSB, EBS, National Irish Bank, IIB Homeloans...there may be more I'm not thinking of.
 
cromulent said:
From today's Irish Times



Who is giving out 92% these days MrMan?
Click to expand...

I would hope that Liams list gives you an indication that there are actually banks out there (most of them) willing to lend to people up to 92% to buy their homes.
 
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