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
Property prices fall for first time in 10 years
29 March 2023: Irish house prices fell by 0.3% in the first quarter of 2023. It’s the first time in a decade there’s been a drop in the first quarter of the year, according to property price website Daft.ie.
The national price drop follows a surge in interest rates and the cost of living, and the figure is a stark contrast to the double-digit growth of 2022.
But prices are still 2.7% higher vs the same period of 2022 and although supply has increased by 30% to 13,000, it’s still significantly lower than 2019, when it stood at 24,400 homes.
ICS Mortgages Ireland announce rate rises across product range
21 March 2023: ICS Mortgages have announced a round of steep rate increases across several types of mortgages.
ICS is pushing up variable rates by 1.25% across all loan-to-value (LTV) bands. Buy-to-let mortgage rates will increase between 0.15% and 1.25%, depending on the product and LTV. New home mover and switcher mortgages will rise between 0.60% and 1.00%, but existing fixed-rate customers won’t be impacted.
The rate changes will apply to new fixed rate applications and all variable rate mortgages from 1 May 2023.
EBS latest lender to hike interest rates
14 March 2023: EBS is increasing interest rates on fixed rate residential mortgages by an average of 0.59%.
The new rates will start from 15 March, but all customers who draw down their new mortgage by 14 April can avail of the previous fixed rates.
Rates will also increase on buy-to-let mortgages, but there will be no change to the lender’s variable mortgages.
The lender also announced increased interest rates on savings. From 15 March 2023 the new rates will be:
- EBS Family Savings Account will offer a 1% return (up from 0.10%) up to €1,000 per month for 12 months.
- EBS Children’s/ Teen’s Savings Account will offer a 1% return (up from 0.10%) up to €5,000 and 0.10% for amounts greater than €5,000.
- EBS Instant Access Account will offer a 0.10% return (up from 0%).
Finance Ireland increases fixed-rate mortgage rates
13 March 2023: Finance Ireland have announced hikes to their fixed rate mortgage products. 5 year fixed rates will increase by 0.50%, while 3 year fixed rates will rise by 0.75%.
The changes will take place from 16 March. If customers receive a mortgage offer before then, they have until 17 April to avail of the current rates.
EBS launches new €2,000 cashback deal
13 March 2023: EBS has launched a new cashback deal for customers who switch to their Green 4 Year Fixed Rate Mortgage.
The offer is available from 10 March 2023 to 31 December 2024, and for customers who move their existing mortgage from another lender to EBS.
The property must be bought in Ireland, and customers eligible for the Green 4 Year Fixed Rate Mortgage - e.g. having a BER rating of B3 or higher. Read the full terms and conditions here.
Permanent TSB increases fixed rates for 3rd time
7 March 2023: From 8 March, Permanent TSB are raising their fixed rates for new customers by 0.75%.
The price change won’t affect current fixed-rate customers; and those who are holding offers will have up until 2 June to avail of the lower rate.
The latest increase could add around €130 to the monthly cost of a typical first-time buyer mortgage.
Finance Ireland hikes variable rates
14 February 2023: Finance Ireland will hike standard variable rate mortgages by 1% from March 16th, due to the most recent ECB rate increase.
The non-bank lender will raise rates to between 5.75% and 6.15%, depending on the loan to value.
This is the second time the lender has increased its rates after pushing up fixed rate mortgages last October.
More home buyers eligible for Local Authority Home Loan as limits raised
7 February 2023: More house hunters will be eligible for the government-funded Local Authority Home Loan, as the scheme’s property price and income limits are set to increase.
The fund was set up to provide low-interest mortgages for first time buyers and fresh start applicants and has caps on both how much applicants can earn, as well as how much a new home costs.
From March 1st:
- Income limits for single applicants will increase from €50,000-€65,000 to €70,000.
- For joint applicants, the limit will increase from €75,000 to €85,000.
- House price limits will increase from €25,000-€60,000, depending on where the property is.
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.
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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.
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.