Greater mortgage affordability for first-time buyers

27th March, 2016
Lars Frisell, an adviser to Central Bank governor Philip Lane Pic: RollingNews.ie

The percentage of net income being spent by first-time buyers on their home loan repayments has declined, according to new mortgage market data.

The latest EBS DKM Affordability Index points to an improvement in mortgage affordability for first-time buyers. According to the report, the improved affordability for such buyers is due to a combination of factors, including stricter borrowing rules, an increase in average earnings in 2015 and a reduction in average mortgage interest rates.

The...

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