Compare Ireland’s mortgage interest rates
Discover the best, low rate mortgages for switchers and first time buyers from Ireland’s top lenders.
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 to apply for a mortgage
- Part 5 How to switch your mortgage
- Part 6 Other mortgage matters
Latest Update
Mortgages roundup
Avant Money mortgage rates increase by 0.25%
01/09/2023: Avant Money will increase mortgage rates by 0.25% this Monday, September 4th. Those who have been approved a deal have until September 29th to draw down their mortgage at existing rates. The non bank lender’s variable rates will increase by 0.25% while its three, four and five year short-term fixed rates will rise from 0.15%-0.25%. Longer term fixed rate products are unchanged with rates starting at 3.95%.
EBS variable rates rise by 0.45%
23/08/2023: EBS has pushed up rates for new and existing variable rate mortgage holders by 0.45%. The new rate is applicable from 23 August 2023, and follows rate rises in March 2023. Customers with an EBS approval in principle will have the prevailing variable rate on the date they drawdown their mortgage. EBC fixed rate mortgage holders are not affected by the rate rise.
Finance Ireland ups variable rates by 0.25%
14/08/2023: Following recent hikes by the European Central Bank, Finance Ireland has increased its variable rate mortgages by 0.25%.
The non-bank lender said change will take effect from the 12th of September, and there will be no further changes to fixed rates for now.
PTSB newest lender to increase interest rates
28/07/2023: Permanent TSB is the latest lender to raise interest rates on fixed mortgages.
The rates will increase by 0.5% on Monday, July 31st. It comes after the latest raft of hikes by the European Central Bank - who’s main lending rate now stands at 4.25%.
Customers who have been offered a PTSB mortgage on existing rates will have until October 27 to draw it down.
Those on current fixed rates won’t be affected, nor will Green mortgages rates.
Bank of Ireland hikes fixed rate mortgages by 0.25%
26/07/2023: Bank of Ireland have hiked their fixed rate mortgages by 0.25%, from 26th of July. It’s the fourth time they’ve increased rates in the last year.
The change affects customers coming to the end of a fixed-rate, who want to re-fix their mortgage.
It also affects tracker rate or variable rate customers moving to a fixed rate. The bank also increased deposit rates by 0.50%.
Mortgage rates in Ireland and EU continue to rise
13/07/2023: Irish mortgage rates are still rising, and are now higher than the Eurozone average, according to the latest figures from the Central Bank.
The average interest rate for a new mortgage in Ireland was 3.84% in May, up from 3.63% in April and is predicted to rise even further through the summer months.
The increase comes after the European Central Bank pushed up interest rates for an eighth consecutive month.
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.
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 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. 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 most you might be able to borrow with a mortgage based on your income and deposit in just a few clicks.
Visit our one-stop mortgage calculators page for more tools.
- mortgage repayment calculator
- stamp duty calculator
- how much can you borrow calculator
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
Your mortgage payments will take a large chunk of your income each month, so it pays to 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
Is it time to switch your mortgage?
With interest rates on the rise, many homeowners are wondering whether it’s time to hunt for a better mortgage deal.
Consider a switcher mortgage when…
Talk to a mortgage broker or compare switcher mortgages to find out more.
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.