Taking an average First Time Buyer mortgage of €230,000, this dedicated fund from Bank of Ireland will enable over 4,000 First Time Buyers purchase their first home.
The bank said current difficult economic conditions have made first time buyers nervous about getting on the property market. However, with four rate reductions by the ECB since October 2008, coupled with increased value in the property market, First Time Buyers are being encouraged back into the market place. Bank of Ireland, as the largest retail bank in Ireland, said it believes it has a part to play in this and this new fund sends a clear message to all first time buyers that Bank of Ireland is very much open for mortgage business and is seeking to support First Time Buyers onto the market.
Source: Finfacts
