Changes to the Central Bank Mortgage Measures Framework

On the 19th October, the Central Bank of Ireland, after a comprehensive review of the mortgage measures framework, announced that it would be changing its mortgage measures. In simple terms, they decided to change some of the measures all mortgage lenders must follow in Ireland when lending to customers.

To give some context, these are the different categories for mortgages before the Central Bank changes were announced –

First Time Buyers:

First Time Buyers could borrow 3.5 times income and up to 90% Loan to Value (depending on their income). They were required to have 10% deposit (minimum).

Second Subsequent Buyers:

Second Subsequent Buyers could borrow 3.5 times income and up to 80% Loan to Value (depending on their income). They were required to have 20% deposit (minimum).

Previously, people applying for a mortgage were only able to borrow up to 3.5 times their income. In the current climate of increased house prices, First Time Buyers were finding it very challenging to find a Home within this criteria. For example, if a couple are on a combined salary of €80,000 looking to borrow the full 90% Loan to value, the max they could borrow was €280,000. This means the most they could potentially buy a house for would be €310,000 (depending on their level of deposit). In today’s world of house buying €310,000 might not get you a lot of bang for your buck!

Changes by Central Bank effective since 1st January 2023

  1. The Central Bank have now changed this to 4 times your income. Using the above example, this increases the amount they could now borrow to €320,000 and potential house price of €355,000. This is a lot more realistic and helpful for First Time Buyers.
  2. Another change made was the definition of a First Time Buyer. Now if you are recently divorced/separated or have undergone bankruptcy or insolvency and are looking to buy a house on your own, you won’t be penalised by having to now come up with a 20% deposit to buy a house vs a 10% deposit when you bought your first home. You will be treated as a First Time Buyer. You can now borrow up to 90% with only a 10% deposit required. This is a really positive change for people in these difficult situations. The difference of coming up with a 10% deposit is much more manageable than a 20% deposit.
  3. The Central Bank have also changed the Loan to Value for Second Subsequent Buyers. It was to a max of 80% (i.e., 80% of the cost of the house). They have now increased this to 90% Loan to Value. This is another positive step taken to help anybody looking to trade up their home

For guidance on the new changes and what it might mean for you getting a mortgage:

Call 0818 910800 or email

Business Owner Consultation

Your business is your baby, so it deserves protection. Our team of experts will guide you through informed decisions to provide tailored policies. Shield your business against unexpected setbacks and ensure stability, whether you’re a startup or an established corporation. We’ll create a financial plan that will guide the balance of your personal finances and your long-term business goals.

What’s in this for you? Discuss your business finances in confidence with trustworthy advisors to:
1) Create a money management plan to suit your business
2) Align your business and personal objectives
3) Get clarity and validation on your strategies from dedicated Financial Advisors committed to safeguarding your business finances
4) Be advised when you need to speak to Tax Advisors where relevant
5) Obtain guidance onto Owner/Director on Pension planning and legislation
6) Referral to a Life/Business Coach where relevant

Plan for your business’s long-term financial goals:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Safeguard your business and your future

Investment Consultation

With low deposit rates and high inflation rates, savings and investment plans are appealing right now. We understand what it’s like to make sacrifices to accelerate your savings goals so you can achieve your dreams. That’s why we provide expert guidance so you can take charge of your future without sacrificing your valuable time.

What’s in this for you? Why you should consider savings and investment plans?
1) The potential for higher returns
2) Flexibility in the amount you save
3) Short, medium and long term options to suit your goals, amounts and terms to save
4) Investment options appropriate to suit your needs and goals

How you can save to secure your dreams:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Make your Dreams a reality

Mortgage Consultation

Whether you are a first-time buyer, mover, switcher or looking to invest in a rental property, we have a mortgage solution to fit your unique situation. Over 60 and looking to release equity in your home to support your children, go on that dream holiday or pay off bills? We find the mortgage most suitable for you and your family’s needs and support you through the entire process. You’re guaranteed to find the best mortgage option for your financial needs and goals, with impartial advice and competitive rates.

Clear, simple, actionable advice for all your mortgage needs:
1) First time buyers
2) First Home Scheme/ Local Affordable Authority Scheme
3) Switchers
4) Home Movers
5) Investment Property
6) Self Employed
7) Contract Workers
9) Lifetime Loan (over 60’s equity release)

How you can get started:
1. Share your journey with us
2. Create a plan!
3. Gather and submit your information
4. Make your Dreams a reality

Financial Planning Consultation

Secure your future and that of your loved ones beyond homeownership with life assurance, income protection and pension advice. Whatever your stage of life or money situation, our team of experts will help you make informed decisions to safeguard your financial future.

What’s in this for you? Planning your future, helps make your dreams a reality:
1) Start by creating a money management plan
2) Work with our dedicated Financial Advisors committed to safeguarding your future
3) Helping you get the guidance you need to achieve your long-term financial goals

Safeguard your financial future today:
1. Share your goals with us
2. Create a plan!
3. Gather and submit your information
4. Safeguard your Financial Future