First step on the property ladder

A first-time buyer (FTB) is a term used for a potential house buyer who has not previously owned a property.

A FTB is usually desirable to a seller as they do not have to sell a property, and as such will not involve a housing chain.

There are some factors a FTB may need to consider before purchasing their first property:-
– how much initial cash you’ll need for stamp duty and solicitors fees
– a mortgage how much can you afford

In the UK and Ireland, home ownership is seen as a natural step in the life cycle and the natural form of property tenure.Ireland has one of the highest proportions of owner-occupiers in the EU at around 80%.

During the 1980s, almost half of all mortgages were taken out by first-time buyers. Today, this has decreased to around 15%. In Ireland, FTB’s represent 34% of the market.

Why has this happened? FTB’s have been “priced out of the market” by ever increasing house prices.

The Government has created the “Help to Buy” scheme to help hard-working people (so not restricted to just FTBs) like you, take steps to buy your own home. Whether you want to get onto the housing ladder or move up it, Help to Buy makes it possible to buy a new build or existing home priced up yo £600k with as little as a 5% deposit.

More information can be found at

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