House buyers ready to pounce

TWO-THIRDS of first-time buyers plan to purchase in the next 12 months, while three-quarters have their deposits ready.

The news comes as experts reveal that banks are starting to phase out 40-year mortgages as house prices become cheaper.

A survey from MyHome.ie found three-quarters of first-time buyers have either received or are seeking mortgage approval, the same percentage as in September last year, suggesting activity in the market has held firm over the six months.