Buying your first home is exciting, but getting your first mortgage can feel complicated. How much can you borrow? How much deposit do you need? Which lender is right for you? Are you eligible for Government support? And what about mortgage protection and a solicitor?
At Park Financial, we specialise in helping first-time buyers navigate the mortgage process from their first enquiry through to getting the keys to their new home.
Our experienced mortgage advisers help you understand your borrowing options, compare suitable mortgage products and prepare your application, while also helping you understand the Government supports and other services available to you.
If you’re ready to explore your options, you can learn more about our First-Time Buyer Mortgage service.
🔑 How Park Financial Helps First-Time Buyers
Getting a mortgage isn’t just about finding a lender. It’s about understanding the entire process and making sure you are prepared.
| First-Time Buyer Need | How Park Financial Helps |
|---|---|
| 💶 Work out how much you can borrow | Help assess your borrowing capacity and affordability |
| 🏦 Compare mortgage options | Compare suitable options from our lender panel |
| 🏠 Government schemes | Explain relevant first-time buyer supports |
| 📋 Mortgage application | Help you prepare and progress your application |
| 🛡️ Mortgage protection | Help arrange mortgage protection and life insurance |
| ⚖️ Solicitor | Help arrange a solicitor at no additional cost |
| 🔑 Getting the keys | Guide you through the mortgage process to drawdown |
Our goal is to make buying your first home simpler, clearer and less stressful.
You can also read our guide on how much a first-time buyer should borrow before you start looking at properties.
🏦 Central Bank Mortgage Rules for First-Time Buyers
Understanding the Central Bank of Ireland’s mortgage rules is an important starting point.
Under the current mortgage measures, first-time buyers can generally borrow up to 4 times their gross annual income, while the maximum loan-to-value (LTV) is 90%. This means a first-time buyer will generally need at least a 10% deposit.
| Current rule | First-time buyer |
|---|---|
| Maximum LTI | 4 × gross income |
| Maximum LTV | 90% |
| Minimum deposit | 10% |
For example, a household with a combined gross income of €80,000 could have a Central Bank LTI limit of €320,000.
However, this does not guarantee mortgage approval. Lenders still assess your income, spending, existing financial commitments, savings and overall ability to repay.
Some lenders can also provide a limited proportion of loans above the standard Central Bank limits.
Park Financial can help you understand how these rules apply to your individual circumstances.
If you want to explore your potential borrowing capacity, try the Park Financial Mortgage Calculator.
💶 Government Supports for First-Time Buyers
One of the biggest advantages of speaking to an experienced mortgage broker is understanding the Government supports that may be available to you.
Depending on your circumstances and the property you are buying, these may include:
🏠 Help to Buy
The Help to Buy scheme can provide assistance to eligible first-time buyers purchasing a qualifying new home or building their own home.
🏡 First Home Scheme
The First Home Scheme is a shared-equity initiative designed to help eligible buyers bridge the gap between their deposit, mortgage and the price of an eligible property.
You can learn more about how it works in our detailed First Home Scheme guide.
🏘️ Local Authority Home Loan
For eligible applicants who cannot obtain sufficient finance from traditional mortgage lenders, the Local Authority Home Loan may provide another option.
Park Financial helps first-time buyers understand which Government schemes may be relevant to their circumstances and how they could fit into their overall mortgage plans.
Government schemes have specific eligibility requirements, so these should always be checked against the current rules.
📋 Preparing Your First-Time Buyer Mortgage Application
A properly prepared application can make the mortgage process much easier.
Depending on your circumstances, lenders may require information such as:
- Payslips and salary details
- Bank statements
- Savings history
- Proof of deposit
- Identification and proof of address
- Details of existing loans and financial commitments
- Additional financial documents for self-employed applicants
Park Financial’s digital mortgage process allows you to securely provide documents while your dedicated mortgage adviser guides you through the application.
For more information about documentation and the mortgage application process, see our First-Time Buyer Mortgage guide.
🛡️ Mortgage Protection & Life Insurance
Mortgage protection is an important part of taking out your first mortgage.
Park Financial can help arrange your mortgage protection and life insurance as part of the mortgage process.
Rather than having to arrange everything separately, our advisers can explain the options and help you organise the appropriate cover.
You can learn more about the difference between mortgage protection and life insurance in our guide: Is Mortgage Protection and Life Insurance Required With a Mortgage?
⚖️ We Can Help Arrange Your Solicitor
Buying your first home involves more than securing a mortgage.
You will also need a solicitor to deal with the legal side of your property purchase.
Park Financial can help arrange a solicitor for you at no additional cost.
This means we can help with several important parts of the process under one roof:
Mortgage → Government Supports → Mortgage Protection → Solicitor → Drawdown → 🔑 Keys
🚀 From Your First Mortgage Application to Getting the Keys
With Park Financial, the process can be broken down into simple steps:
1. Speak to a mortgage adviser
Understand your circumstances and potential borrowing capacity.
2. Compare mortgage options
Explore suitable options from our lender panel.
3. Check Government supports
Understand whether schemes such as Help to Buy or the First Home Scheme may apply.
4. Get Approval in Principle
Understand your potential budget before seriously searching for a property.
5. Find your first home
Search with a clearer understanding of what you can afford.
6. Complete your mortgage application
We’ll help you progress your application with the lender.
7. Arrange protection and legal support
We’ll help arrange mortgage protection and a solicitor.
8. Get the keys 🔑
Before house hunting, you can also use the Park Financial Mortgage Calculator to get an initial indication of your potential borrowing and repayments.
⭐ Why Choose Park Financial as Your First-Time Buyer Mortgage Broker?
Park Financial has been helping customers arrange mortgages since 1999.
We combine experienced mortgage advice with a digital application process, helping first-time buyers across Ireland understand their options and progress their mortgage applications.
With Park Financial, you get:
🏡 First-Time Buyer Expertise
Specialist guidance throughout your first home purchase.
🏦 Access to Leading Lenders
Compare suitable mortgage options through our lender panel.
💶 Government Scheme Guidance
Help understanding the supports that may be available to you.
🛡️ Mortgage Protection & Life Insurance
Help arranging your required protection.
⚖️ Solicitor Arrangements
We can help arrange a solicitor at no additional cost.
📱 Digital Application
Securely manage your mortgage application online.
For general information, you can also explore Park Financial’s Mortgage FAQs.
❓ First-Time Buyer Mortgage FAQs
How much can a first-time buyer borrow?
Under the current Central Bank mortgage measures, the standard LTI limit for first-time buyers is 4 times gross income. However, lenders also apply their own affordability and lending criteria.
For a more detailed explanation, read How Much Should a First-Time Buyer Borrow?.
How much deposit does a first-time buyer need?
First-time buyers will generally need a minimum 10% deposit, subject to the applicable mortgage rules and lender criteria.
Can Park Financial help me with Government grants?
Yes. Park Financial can help you understand Government supports such as Help to Buy and the First Home Scheme, where relevant to your circumstances.
You can also read our First Home Scheme guide.
Can Park Financial arrange mortgage protection?
Yes. We can help arrange mortgage protection and life insurance as part of the mortgage process.
Can Park Financial arrange a solicitor?
Yes. We can help arrange a solicitor at no additional cost.
Should I speak to a mortgage broker before looking for a house?
Yes. Understanding your potential borrowing capacity and obtaining Approval in Principle can help you establish a realistic budget before you start bidding on properties.
🔑 Ready to Take the First Step?
Buying your first home doesn’t have to be overwhelming.
Park Financial specialises in helping first-time buyers understand their mortgage options, Government supports and borrowing capacity — while helping arrange mortgage protection and a solicitor along the way.
If you’re ready to find out what you could potentially borrow, speak to Park Financial today.
🏡 Start Your First-Time Buyer Mortgage
Mortgage approval is subject to lender assessment, affordability, lending criteria and individual circumstances. Government schemes are subject to their own eligibility criteria, terms and conditions.
