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Bank of Ireland launches another €2 billion fund for first time buyers

The bank said that the fund is being rolled out in response to existing and anticipated demand for mortgages.

Image: House image via Shutterstock

BANK OF IRELAND has today launched a second fund of €2 billion for first time buyers and movers following an initial fund of the same amount in October last year.

The bank said today that this new fund is being rolled out in response to the “existing and anticipated demand”. In October 2012, the ‘First Time Buyer and Mover Fund’ was launched and some €1.2 billion in mortgage finance of that €2 billion fund has now already been approved.

Speaking today, Director of Consumer Banking at BOI, Gavin Kelly said that there is strong evidence that residential property prices continue to stabilise, as are incomes and the number of people in employment.

“These factors are contributing to improved consumer sentiment and an increase in the number of people considering the purchase of a home or changing home,” he added.

CSO figures yesterday revealed that property prices across the country have risen for the first time since 2008, mainly due to an increase in Dublin. However prices are still down 50 per cent since their peak in 2007.

Read: Property prices are now half the price they were in 2007>

Read: Revenue: 9 out of 10 comply with property tax with €175m raised so far>

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