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
ECB cuts Eurozone interest rates
16/09/2024: The European Central Bank (ECB) cut interest rates again in response to slowing inflation.
The ECB lowered its deposit rate by 0.25 to 3.5% following a similar cut in June. The refinancing rate - the rate at which mortgage lenders base their product rates was cut by 60 basis points to 3.65% which is good news for those on tracker mortgages and those looking to switch in the near future.
Nua Mortgages cuts fixed rates by up to 0.5%
12/09/2024: Nua Mortgages has reduced its fixed mortgage rates.
3 year fixed rate mortgages for first time buyers switchers and movers will now start at 4.60% (5.05 % APRC (Annual Percentage Rate of Charge)) - a reduction of 0.50%. 5 year fixed rates will now start at 4.50% (4.92% APRC).
The Switcher Extra and Switcher One refinancing products will now start at 5.75% (5.93% APRC) for homeowners with an LTV of <60%.
The indicative APRC is based on a representative cost per thousand of €100,000 over max term of 20 years.
Mortgage switching up 23% since last year
28/08/2024: There was a 23% hike in mortgage-switching in July compared to 2023, according to new figures from the Banking and Payments Federation Ireland (BPFI).
The surge in mortgage movers could be due to those coming to the end of fixed-rate deals and looking to avoid higher, variable rates.
First-time buyer approvals are on the up too, with a 12.8% increase vs last year and approval volumes and values reaching their highest levels since the series began, in 2014.
AIB, EBS and Haven extends Approval in Principle to 12 months
26/08/2024: AIB, EBS and Haven have extended the validity period of their Approval in Principle (AIP) from six months to 12 months.
This change is effective from 24 August 2024, so new applications approved on or after this date will receive a 12-month mortgage approval. AIPs granted before 24 August will continue to be valid for six months only.
Credit union mortgage lending grows by 62%
20/08/2024: Credit union mortgage lending jumped by 10% in the first three months of this year, and is up 62% since last year.
Though each credit union branch sets different rates, some offer the cheapest mortgage rates in the market.
The growth is in spite of Central Bank lending regulations, which restricts the amount credit unions can loan out for mortgages. Banks are not subject to the same strict lending limits.
MoCo drops interest rates by up to 0.5%
16/08/2024: New lender MoCo is cutting fixed rates by up to 0.5%, from today.
The new interest rates apply to MoCo’s three and five-year fixed-term mortgages.
Depending on the loan to value, the lowest five-year rate now available is 4.05%, while the lowest three-year rate is 4.10%.
The changes are available to all new customers and any active applications that have not been drawn down yet.
ICS Mortgages cuts fixed rates by 0.35%
01/08/2024: ICS mortgages are reducing their three and five fixed mortgage rates by 0.35%.
The new rates - starting at 4.65% for new customers - will be available from August 1st, while customers on existing fixed rates will be unaffected.
Mortgage switching drops by 6.9%
28/07/2024: Re-mortgage/switching volumes fell by 6.9% in the second quarter of 2024 vs last year, while mortgage switcher values were down 14.9%.
New figures from the Banking and Payments Federation Ireland (BPFI) reveal drawdowns by mover-purchasers fell by 3.1% since last year, but first-time buyers remain the largest segment of the market both by volume and by value, up 5.5%.
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 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.
The average interest rate on new mortgage agreements is now at 4.11%*; its lowest level in ten months. 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.
*Source: Central Bank.ie
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.