First-time buyers 'not influenced by interest rates'

Permanent-TSB has claimed that first-time house buyers in Ireland are not influenced by the interest rates charged by financial institutions.

Permanent-TSB said its research found the biggest factor influencing first-time buyers was the amount of money banks and building societies were willing to lend.

Flexibility in repayment terms was also a major factor, it said.

The Permanent-TSB research found that most first-time buyers were shocked at the high cost of solicitors’ fees and felt frustrated when dealing with builders.