First-time buyers will be able to borrow up to four times their income

The Central Bank has updated its definition of what it means to be a first-time buyer though

Those who get a top-up loan or re-mortgage with an increase in the principal may also be considered first-time buyers, provided the property remains their primary home.

Only first time buyers will be able to borrow up to four times their gross income under the changes made by the Central Bank to mortgage lending rules.

Second and subsequent buyers will continue to be able to buy up to 3.5 times their gross income.