Compare Ireland’s mortgage interest rates
Discover the best, low rate mortgages for switchers and first time buyers from Ireland’s top lenders. Get the latest mortgage fixed interest rates and save hundreds.
How it works
- Search Simply tell us about your mortgage requirements so we can search the market.
- Compare Choose the best deal for your needs from one of Ireland’s lenders.
- Apply Enter your details to arrange a callback from a mortgage broker.
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Guide
Your complete guide to mortgages in Ireland
Whether you’re buying your first home, switching your mortgage, or moving, we can help you prepare for your mortgage journey.
- Part 1 How mortgages work
- Part 2 Types of mortgages
- Part 3 Borrowing with a mortgage
- Part 4 How make a mortgage application
- Part 5 How to switch your mortgage
- Part 6 Other mortgage matters
Latest Update
Mortgages roundup
Bank of Ireland to cut fixed mortgage rates by 0.5%
19/11/2024: Bank of Ireland has reduced the interest rate across its full suite of fixed rate products by 0.5%.
The reduced rates are available to all new and existing customers from 19 November and apply to all properties regardless of BER rating.
Mortgage rates at lowest level for a year
13/11/2024: New figures from the Central Bank show that Irish mortgage rates fell to their lowest level for over a year in September.
It’s reported that mortgage rates fell from 4.11% to 4.08% in September. Despite the fall they are still higher than the EU average of 3.59%.
The fall comes as another ECB rate cut is predicted for December.
Homeowners could save €617 a month by switching to the lowest mortgage rate
11/11/2024: There is currently a €7,405 difference between the lowest and highest mortgage rate in Ireland.
Variable rates now range from 3.6% to 6.65%, and lowest rate in the market right now is a green rate of 3.1%, though only those with A1-B3 rated homes can avail.
The survey by Irish Independent and Doddl mortgages found that homeowners could save as much as €617 a month by switching and securing the lowest rate.
Only one in eight has claimed mortgage tax relief
04/11/2024: Only one in eight of the 208,000 homeowners thought eligible have applied for the rebate, worth up to €1,250.
The tax relief announced in Budget 2024 and extended through 2025 in response to rapidly rising interest rates, was designed to benefit over 200,000 people on standard variable rates and tracker mortgage holders. However, more than 180,000 homeowners have failed to claim up to €1,250 via the Revenue.
According to figures from Revenue, those who have applied for the credit have received rebates of just over €18 million in total, which amounts to €670 per mortgage holder.
A recent survey by Taxback.com found that 700 of 1,400 (50%) homeowners had never heard of the mortgage tax credit, suggesting that a lack of knowledge could be responsible for the low take-up.
Avant Money cuts fixed rate mortgages by up to 0.40%
30/10/2024: Avant Money is reducing mortgage interest rates on its two fixed rate mortgages.
Avant Money’s One Mortgage, which allows customers a rate fixed for the full term of the mortgage, will see rates reduced by up to 0.40% and Avant Money’s four-year fixed rate mortgage will see rates reduced by up to 0.20%.
The new rates on both mortgage products will start at 3.40% for loan to value (LTV) mortgages of less than 80%.
The new rates will apply to all mortgages drawn down from 7 November 2024.
AIB launches lower-rate green mortgages, starting at 3%
25/10/2024: AIB bank is launching two fixed-rate green mortgage products.
The new rates are for homes with a Building Energy Rating (BER) between A1 and B3, and start from as little as 3%.
The three-year fixed rate is available for homes with a BER of A1-A3, and starts from 3%, while the two-year fixed rate - for A1-B3 rated homes - starts at 3.15%
The rates will be available to new and existing customers from Saturday, October 26th.
ECB announces 0.25% interest rate cut
21/10/2024: The European Central Bank (ECB) has announced a further 0.25% interest rate cut, the third drop this year. The move is in response to rapidly falling inflation rates.
The latest decrease in the ECB refinancing rate - the rate tracker mortgages are based on, takes it to 3.40%. This may prompt mortgage lenders to reduce their variable and fixed rate mortgages.
ICS Mortgages to cut variable rates by 0.25%
18/10/2024: ICS Mortgages will cut its variable rates by 0.25% from December 1st.
The announcement comes after the European Central Bank cut rates for the third time this year.
The reduced rates will benefit owner-occupier, buy-to-let, and new and existing customers.
Less than one third of mortgage holders consider switching
16/10/2024: A new survey revealed that just 28% of mortgage holders have considered switching in the past year, while just one in three researched mortgage rates, and just 27% researched mortgage products available in the market.
The report, released by the Banking and Payments Federation of Ireland (BPFI), also revealed that 28% of mortgage customers said they don’t know the current loan-to-value (LTV) ratio on their mortgage, and a further one in four (25%) said they don’t know their home’s BER or building energy rating.
Our expert says
Buying a home is exciting but stressful, and choosing the right mortgage is daunting for even the most seasoned homebuyers.
One of the first challenges is to work out how much you can borrow to secure your dream home. You’ll also need to decide the mortgage term and whether a variable or fixed rate mortgage offers the best value.
Fortunately, there are mortgage products specially designed for every stage of the homeowning journey. Whether you’re a first-time buyer, switcher or home mover, there’s a lender to meet your needs and a mortgage to match.
Many banks also offer discounted rates on green mortgages, which, in most cases, are for homes with a Building Energy Rating (BER) of at least B3 or higher.
If you’re a first-time buyer, take your time to understand how mortgages work and what steps you must take. If you need help choosing or applying for a mortgage, consider expert advice from a mortgage broker.
Home movers and switchers should always shop around before signing up for a new fixed rate mortgage. It’s tempting to stay with your bank, but you may find a better interest rate with another lender.
Right now, there’s a €7,405 difference in annual payments between the highest and lowest mortgage rates available, with homeowners potentially saving up to €617 a month by switching and securing the lowest rate.
If you’re approaching the end of your fixed deal, start your search in advance so you don’t languish on your lender’s variable rate for too long.
Compare the indicative APRC (Annual Percentage Rate of Charge) to find the best deal and price in any cashback offers or fees.
Eoin Clarke
How much can you borrow?
Our mortgage calculator can help you work out the maximum loan you might be able to borrow based on your income and deposit in just a few clicks.
Visit our one-stop mortgage calculators page for more tools.
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Six essential first-time buyer tips
Get your credit record in shape
Your credit record indicates how likely you are to repay your debts successfully and is based on past borrowing on credit cards, loans or a mortgage. Lenders will review your credit record to help them decide:
- Whether they will lend to you
- How much they can lend you
- What interest rate they can offer you
Find out what steps you can take to boost your credit rating in our guide, How to check your credit rating.
Save as much deposit as you can
All lenders require a mortgage deposit when you buy a residential property in Ireland. You’ll need at least a 10% deposit as a first-time buyer.
The larger your deposit, the less you have to borrow to cover the cost of your home, and a low loan to value (LTV) can help you secure the cheapest mortgage interest rates. A smaller deposit may also restrict the choice of mortgage deals available.
Read our guide to learn more about mortgage deposits in Ireland.
Take time to compare lenders and rates
A first time buyer mortgage is not a specific type of mortgage, but rather a category that lenders may target with particular mortgage products.
Your mortgage payments will take a large chunk of your income each month, so shop around for the lowest interest rate and cheapest mortgage deals.
Don’t forget to factor in any product charges and legal fees. It’s worth considering cashback mortgages, but weigh up the potentially higher interest rate.
Always compare the Annual Percentage Rate of Charge (APRC) because this shows the overall cost of the mortgage.
Seek mortgage advice from a broker
A mortgage is often a lifelong commitment, so having an expert on hand to guide you through the application process and answer your questions can be helpful. Mortgage brokers know the mortgage market inside out and can find the best mortgage for your needs and circumstances.
A mortgage intermediary can be especially useful if you’re self-employed, planning a self-build or have bad credit. Read our article Should you use a mortgage broker? to learn more.
Secure an Approval in Principle
An Approval in Principle (AIP) is a letter from a lender showing the amount they could lend you. It isn’t a guarantee of a mortgage, but it can show sellers and estate agents you’re a serious buyer.
If you make an offer on a property, you’ll have a better chance of success if you have an Approval in Principle in place. Once you have a mortgage in principle confirmed it lasts 6 months.
Learn more about how the process works in our guide How to get a mortgage Approval in Principle in Ireland.
Explore Help to Buy schemes
There are several Government schemes that could help you buy your first property; these include:
- Help to Buy (HTB) Scheme: This is an incentive for first-time buyers or self-builders who are purchasing a property to live in as a home. It helps with the deposit you need to secure a mortgage. If you qualify you’ll get a refund of Income Tax and Deposit Interest Retention Tax (DIRT) paid in Ireland.
- Local Authority Home Loan: This offers Government backed mortgages for first time buyers and fresh start applicants. The loan can be used to purchase new builds, older properties or for self-build homes up to 90% of the property’s market value.
- Mortgage Allowance Scheme: An option for local authority or housing association tenants who wish to buy a private house. Under the scheme, you could get an annual allowance payable over five years to help with your mortgage payments, worth up to €11,450.
- First Home Scheme (FHS): A new government-backed scheme to help first-time buyers get on the property ladder. The FHS aims to make house purchase more affordable by supporting homebuyers with the cost of up to 30% of a new home.
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Switcher mortgages
With interest rates changing, many homeowners are wondering whether it’s time to hunt for a better mortgage deal.
Switcher mortgages are for those who want to switch their mortgage to a new lender and take advantage of better interest rates or terms.
This can be a great way to save money on your monthly payments or to pay off your mortgage faster. Many lenders offer incentives such as cashback or free legal fees to attract switchers.
To find great rates, talk to a mortgage broker or compare switcher mortgages.
Mortgage jargon explained
Buying a house and getting a mortgage is like learning a new language. Here’s what the jargon means.
Indicative APRC
It’s the Annual Percentage Rate of Charge and covers the initial interest rate, all fees and future rates if you don’t switch. It helps people compare home loan costs fairly.
Loan to value (LTV)
LTV is how the loan’s size compares to the property’s overall value. So if the house you want to buy costs €300,000 and you need to borrow €255,000, you’ll have an LTV of 85%.
Stamp Duty
It’s a tax you must pay when transferring ownership of a property. Stamp duty is due when a Deed of Transfer or Deed of Conveyance is required to transfer ownership in Ireland.
Approval in Principle
An Approval in Principle (AIP), is a letter from a lender showing the amount they could lend you, based on some initial checks. It’s free to get an AIP, and usually valid for six months or 12 months.