What is a First Time Buyer, and what does Fresh Start mean?


From 1 January 2023, the Central Bank of Ireland has made changes to who can now be considered a First Time Buyer.

You are a First Time Buyer if you:
  • and anyone else applying with you have never borrowed for a property anywhere before;
  • have borrowed as a first time borrower for a family home before as part of a couple, but you no longer have an interest in that property yourself because your marriage, civil partnership or relationship has ended, and you have no other mortgage loans (this is called a “Fresh Start”);
  • have been declared insolvent or bankrupt and no longer have an interest in any property (this is called a “Fresh Start”);
  • are switching a mortgage for a first family home in the Republic of Ireland to us and you are borrowing more money;
  • are topping up your AIB mortgage on your first family home; or
  • have a first family home with no mortgage and you want to borrow money against the value of this home.

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