The good news for first time buyers is that several providers have dropped their fixed rate mortgages for first time buyers with the market leading rate being offered by Permanent TSB at 3.29%.
However several of the lenders are now only offering the lower rates if first time buyers are able to come up with a bigger deposit.
The market leading rate is only being offered to first time buyers who can come up with a deposit of at least 20% of the house value. While the next best rate being offered is by KBC at 3.3% with first time buyers only required to come up with a deposit of 10%.
Compare mortgage rates on the Irish market at www.moneybags.ie/mortgages/