Making Cents: Key points for people buying their first house

Despite the many issues in the housing market, the number of mortgages being approved is rising, with first-time buyers making up the bulk of new borrowers. According to the latest figures from the Banking and Payments Federation Ireland, the number of mortgages approved in May rose 10.1% over the year. Just over 50% of the 4,926 mortgages approved in May were for people taking out their first home loan.

Buying your first house is an exciting time but can also be daunting. With the statistics showing more people taking the plunge, what are the key points for those thinking of buying a house to bear in mind?