Demystifying First-Time Buyers: Eligibility and Incentives

In the realm of mortgage applications, the term “First Time Buyer” holds a distinct significance. Understanding who qualifies as a First Time Buyer is essential for those venturing into the property market. In this blog post, we will explore the definition of a First Time Buyer, the criteria for eligibility, and the various incentives available to them. Ezfees Financial is here to guide potential First Time Buyers through this important phase of their financial journey.

Defining a First Time Buyer:

A First Time Buyer, as recognized by mortgage lenders, is an individual who has never previously purchased any form of property, whether in Ireland or abroad. This category includes houses, apartments, and even properties where houses have been constructed. It’s worth noting that even if you have inherited or received a property as a gift, you may still qualify for First Time Buyer status.

Eligibility Factors:

When considering joint mortgage applications, both applicants must not have any history of holding mortgage loan details under their names. However, there’s an interesting exception under the Fresh Start perspective. Even if you have experienced divorce, separation, bankruptcy, or insolvency in the past, you might still qualify as a First Time Buyer, subject to the lender’s discretion.

First Time Buyer Incentives:

  1. Gross Income Borrowings: First Time Buyers enjoy the advantage of being eligible for a mortgage of up to 4 times their gross salary. For instance, an individual with an income of €40,000 could potentially borrow €160,000. This is in contrast to second-time buyers and switchers who can borrow only up to 3.5 times their gross income. The maximum mortgage amount for a First Time Buyer is 90% of the property’s purchase price.
  1. Help To Buy Scheme: This incentive offers a tax rebate to First Time Buyers to support their deposit amount. The rebate amounts to 10% of the property’s value or €30,000, whichever is lower. This scheme has been designed to alleviate the financial burden of raising a substantial deposit.
  1. First Home Scheme: As part of this arrangement, First Time Buyers can secure up to 30% mortgage finance based on the property’s value. In return, the buyer enters into a shared equity stake agreement for the property.

Ezfees Financial’s Support for First Time Buyers:

At Ezfees Financial – Mortgage, Life & Pension Brokers, we understand the significance of owning your first home. We are dedicated to helping you navigate the complexities of the mortgage application process. Your aspirations for Your Home, Your Family, and Your Future are our top priority.

Connect with Our Advisors:

If you’re a First Time Buyer seeking clarity on mortgage eligibility and incentives, our team of experienced advisors is here to assist you. Get in touch with us today for personalized guidance and expert advice tailored to your unique situation. Contact us at 0818 910800 or email your questions to


Being a First Time Buyer comes with distinct advantages and incentives that can significantly impact your journey towards homeownership. With Ezfees Financial’s dedicated support, you can navigate the intricacies of mortgage applications with confidence. Reach out to us to embark on this exciting phase of your financial life.

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