Mortgages more affordable for first-time buyers

Mortgages for first-time home-buyers are becoming more affordable, according to the latest survey by EBS Bank and DKM Consultants.

The two firms say mortgage payments for the average first-time buyer couple will constitute around 13% of their income by December.

This compares to 26% three years ago.

The figures are based on a 90% mortgage taken out by a couple who earn more than €40,000-a-year each.