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.
AIB, EBS and Haven push up rates by 0.5%
28 November 2022: AIB and sister mortgage firms EBS and Haven have hiked rates on new fixed-interest mortgages by 0.5%, the second increase for AIB since October. The changes took effect on 25 November, but those who draw down their mortgage before 16 January can still avail of their agreed rate.
Existing fixed-rate and variable-rate borrowers won’t be affected by the rise, but those on deals that are ending soon and first-time buyers will feel the impact of the rise.
Permanent TSB latest bank to raise rates
18 November 2022: Permanent TSB is the latest lender to increase interest rates for all new fixed rate mortgages. Rates will rise by 0.45%, which equates to about €60 more per month for those borrowing €250,000. Unlike AIB or Bank of Ireland, PTSB will also be pushing up rates for certain deposit accounts.
Bank of Ireland hikes rates by 0.25%
10 November 2022: Bank of Ireland has become the second main bank to increase their fixed rate mortgages. The 0.25% rise will apply immediately to all new customers, and could mean up to €40 extra per month for those borrowing €300,000.
ICS Mortgages ramps up rates by 1%
28 October 2022: Non-bank lender ICS Mortgages are increasing their fixed and variable rate mortgages by 1%. The price hikes start on December 1st, and will not affect existing customers on a fixed rate mortgage. Buy to let mortgages will increase too, between 0.7pc-1.25%.
Finance Ireland suspends long term mortgages
26 October 2022: Finance Ireland has temporarily suspended their long term mortgage products to new customers. The non-bank lender said they won’t offer mortgages of 10 years or more to new applicants due to the uncertainty in the global market. Those who have already received an offer will have their application processed as normal.
Central Bank loosens lending rules
19 October 2022: Securing a mortgage is about to get easier thanks to the Central Bank relaxing their lending criteria. New lending rules will see the loan to income rule (LTI) rise to four times income, up from three and half times income.
The LTI rule limits borrowing amounts based on income and property value. This change would allow lenders to approve more mortgages and homebuyers to borrow more.
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.
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.
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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
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.
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.
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.
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%.
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.