Bank of Ireland to refund stamp duty for first time buyers

Wednesday 02 April 2014 10.51
Bank of Ireland says it has €2 billion in funding available to meet current and anticipated mortgage demand
Bank of Ireland says it has €2 billion in funding available to meet current and anticipated mortgage demand

Bank of Ireland has announced a new offer for first time buyers where the bank will refund stamp duty  equivalent to 1% of the customer's mortgage amount. 

The bank said the offer is available on all first time buyer mortgages drawn down between April 2 and  September 30 of this year.

"We understand that today's first time buyer needs all the help they can get when seeking to get their foot on the property ladder, and we want to make it very clear that we want to lend to them," commented Aine McCleary, the bank's head of mortgages. 

Bank of Ireland said it has provided more than €2 billion in mortgage approvals under its first time buyer and mover fund launched in October 2012. It has an additional €2 billion fund available to meet current and anticipated demand. 

Ms McCleary pointed out that first time buyers represented almost half of the new mortgage market in value terms in 2013. She said the bank is now seeing demand from all parts of the country, particularly now as property prices have stabilised outside Dublin.