Second and Subsequent Buyers

Second time buyers are applicants who currently have a mortgage on a property and are seeking to sell to move into another property. 

Second and Subsequent Home Buyers in Kildare, Ireland

Second time buyers are applicants who currently have a mortgage on a property and are seeking to sell to move into another property.

This may be a smaller property, a larger property, or moving to a different location.

Central Bank has set limits on the size of residential mortgages.

In 2023 Central released new lending criteria and 2nd and subsequent buyers can now borrow up to 90% of the property price.

Danitza Clarke Mortgage Advisor GCFS Kildare

The Process

We know how difficult it is to find the right home. But when you do, we can make the mortgage part easier.

You have already been through this process and if you need a recap, please see our step-by-step guide for buying a home in first time buyers or download our free mortgage guide.

Things to consider when selling and moving house:
  1. Location
  2. Local amenities
  3. Finding an estate agent – You will need an estate agent to value your property and arrange any advertising and viewings. They will also be involved in the completion of the sale in conjunction with your solicitor.
Helpful questions to ask before choosing your estate agent:
  • How much will they charge for selling your property?
  • Advertising costs– what will this entail – photos, online advertisements, and brochures?
  • Where will they advertise your property?
  • Similar properties sold in your area – what demand is there and ask for examples of same.
  • Have they any recommendations on how you can improve your property to help attract interest?
  • What level of support do they offer during the sale process?
  • How often will they update you?
  • How much do they think your property will sell for?
  • Will you enter into a contract with them – how long will the contract be for and the pricing be?

Fess for estate agents can vary and will be based on a % of the selling price. It is important to agree on this % upfront.

Remember you are in charge when it comes to selling your home.

Talk to a number of different estate agents before you decide on one and make sure you are comfortable with that person, the cost, and the support they will offer throughout t

Frequently Asked Questions about Second and Subsequent Buyers

Do we still need savings if we are second time buyers?


It depends on the house you are buying, if you are selling the house that you are in will you have enough equity to bring with you over to the new house?

Will you have enough equity to close on the new house after paying off the mortgage on the old property, estate agent selling fees, advertising, etc?

It is always a good idea once you decide to sell to go through the costs that you have and then see if you.

You will also need to show you will be able to meet stressed repayments for the new mortgage the same as first time buyers.

Is there any scheme for Second Time Buyers?
At this point in time, there are currently no schemes available to second time buyers.
The First Home Scheme and Help to Buy are only available to First Time Buyers.
Is there a cashback option?

It depends on the bank but most of the banks will have a cashback offer which will generally cover your solicitor costs.

You must meet all criteria to be able to avail of the cashback offer.

If we break a fixed rate do we have to pay a penalty?
It depends on your bank. Most of the time if you are in a fixed rate there would be a penalty to break this. You will need to check with your bank what the cost to break this fixed rate would be generally if you are in a 5-year fixed rate this would be a higher penalty in your fifth year compared to your 1st year.

Gwen Clarke Financial Services Ltd’s team of experts offers a wide range of services, including investments, pensions, corporate pensions, mortgages, and life protection. We understand that each of our clients has unique financial needs, which is why we tailor our services to meet your specific requirements. Our goal is to help you achieve your financial goals by providing you with personalized advice and guidance every step of the way. Whether you’re looking to invest for the future, secure a mortgage, or protect your loved ones, we can help. Contact us today to learn more about our services and how we can assist you in your Second and Subsequent Buyer’s Mortgage in Kildare and in securing your financial future!

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