Burden on first time buyers

First-time buyers bear a greater burden of the costs arising from mortgage lending restrictions despite being 30% less likely to default on their loans than other homeowners.

Burden on first time buyers

Research by the Central Bank shows first-time buyers are far less likely to default on mortgages than their counterparts whose loans have been taken out on a subsequent property.

However, the mortgage lending caps such as those introduced in Ireland earlier this year, which seek to stabilise the banking system and reduce the risk of a credit-induced collapse, is borne by first-time buyers more so than their peers.

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