Daft Property - Irish Property News

Looser Central Bank rules, generous Help to Buy grants for first-time buyers - but trader uppers are being left out in the cold... They paid too much for their home during the boom; their wages are stagnant; their mortgage is still underwater; they may have a cheap tracker but have ended up renting their own home and leasing another family friendly property at a hefty rent themselves. They’re the negative equity generation and now they want to trade up – but any help form the Government is going towards first-time buyers and not them. Why? It’s a question many people of a certain age may be asking themselves following last month’s revisions to the Central Bank’s mortgage rules. For first-time buyers, the requirement to have a deposit of just 10 per cent – or as low as 5 per cent on a new build thanks to the help-to-buy scheme – means getting the funds together to buy a first property, particularly in Dublin, has become a good deal easier. But what about second-time buyers looking to...