Compare first time buyer mortgages in Ireland
Discover Ireland’s best first-time buyer mortgages, compare interest rates, and find out how to secure a mortgage and buy your first home.
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Latest House prices in Ireland
Ireland’s average house price for the 12 months to June 2026 was €396,000.
The Residential Property Price Index (RPPI) indicates that house prices have increased by 5.6% over the past 12 months. House prices in Dublin increased by 4.6%; elsewhere in Ireland, prices rose by 6.4%.
The cheapest place to buy a house is Longford, with a median price of €198,000, while the most expensive place is Dún Laoghaire-Rathdown at €682,334.
What is a first-time buyer mortgage?
While not a distinct mortgage product, lenders often tailor mortgage deals to meet the needs of first-time buyers.
If you’re purchasing your first home, mortgage providers must follow the specific rules, scheme requirements, and eligibility criteria set out by the Central Bank of Ireland (CBI) for first time buyers.
First-time buyers (FTBs) have access to the same mortgage products as other buyers, but they face different affordability rules.
As a first time buyer you are allowed to borrow up to 4 times your gross annual income (the Loan-to-Income limit).
First time buyer mortgage eligibility in Ireland
To qualify for a first-time buyer mortgage in Ireland, you must meet the Central Bank of Ireland’s lending rules and have saved a minimum 10% deposit (a 90% Loan-to-Value limit).
You’ll need to prove repayment capacity over a continuous 6-month period. Evidence of your ability to repay the loan can come from rent, savings, and other regular outgoings. Ideally, this should amount to more than your monthly mortgage repayment.
To be eligible for a first time buyer mortgage deal or one of the Help to Buy schemes, you must also:
- have no previous mortgage loan in Ireland or abroad
- not own a principal private residence (PPR) in Ireland or abroad
- occupy the purchased property as your main residence
If you have previously owned or taken out a mortgage, but have had a change of circumstance, you may qualify as a ‘Fresh Start’ applicant. This applies if you’re divorced, separated, or have been insolvent.
Choosing the right type of mortgage
Most mortgages in Ireland are offered with fixed rates or variable rates. You can fix your rate for anything between 1 and 30 years.
Decide on the type of mortgage that works best for you and the duration of your loan term, and shop around for the best terms and rates available from different lenders.
A longer mortgage term means smaller monthly mortgage payments, but you’ll pay more interest in total. A shorter duration means larger monthly payments, but you’ll pay less in total.
- Fixed rate mortgages The interest rate remains the same for the duration of your mortgage deal. This means your monthly mortgage payments will stay the same, making it easier to budget each month.
- Variable rate mortgages The interest rate fluctuates with European Central Bank (ECB) rates. This means your rate and monthly payments may go up and down throughout the term.
Popular first time buyer mortgages
You may come across different mortgage products that offer additional benefits, such as cashback or lower rates. These mortgages are often popular with people buying their first home, as they offer a way to reduce costs at the start of their homeowning journey.
Cashback mortgages
Cashback mortgages provide a tax-free lump sum, typically 1% to 3% of your total loan value, shortly after you draw down your mortgage. The money can help pay for moving expenses, like legal fees.
Cashback mortgages are worth considering because they can often help with those upfront costs, but check the interest rates, as they could be higher than non-cashback mortgage rates.
Find out more about cashback mortgages in our in-depth guide Should you choose a cashback mortgage?.
Green mortgages
Green mortgages offer discounted interest rates to buyers purchasing, building, or renovating an energy-efficient home.
Most major Irish lenders (AIB, EBS, Haven, and PTSB) require a valid Building Energy Rating (BER) of B3 or better to unlock their green rates. Bank of Ireland’s EcoSaver product is the exception, offering a sliding scale of discounts across all BER grades.
As of 2026, green fixed rates start from around 3.00% to 3.35%, making them the most competitive headline rates on the market. Learn more about green mortgages at Green mortgages explained.
How your BER Rating lowers your mortgage rate
When you buy a home with a strong Building Energy Rating (BER), banks reward you with a discounted interest rate and reduced monthly repayments.
They do this because energy-efficient properties pose a lower risk to lenders.
To qualify for these lower rates, most major Irish lenders, including AIB, Bank of Ireland, EBS, PTSB, and Haven, require the property to have a BER of B3 or higher (or an A to B rating on the newer simplified scale).
For example, based on current market rates, a standard 5-year fixed rate might be around 3.4%. However, if the home you are buying has an A-rating, you could access a Green Mortgage rate as low as 3.1%.
Over a 30-year term on a €300,000 mortgage, a rate reduction of just 0.3% can save you over €15,000 in total interest, meaning your energy-efficient home saves you money on both your heating bills and your mortgage.
Key terms you’ll come across as a first time buyer
- Loan to Income (LTI): The amount you can borrow based on your annual income. For first time buyers, LTI limit is 4 times gross individual salary.
- Loan to Value (LTV): The amount you can borrow based on the purchase price and deposit. For first time buyers, the maximum LTV is 90%.
- Repayment term: This refers to the period you require the home loan. Mortgage terms are usually offered between 5 and 35 years.
- Indicative APRC (Annual Percentage Rate of Charge): Shows the total cost of a mortgage, including fees, over the entire period of the loan.
- Approval in Principle (AIP): An approval in principle 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 typically valid for six months.
- Building Energy Rating (BER) A property’s BER is an assessment of its energy efficiency on a scale of A to G. A-rated homes are the most energy efficient, and G-rated homes are the least.
You can learn more about these terms and much more in Your complete guide to mortgages in Ireland
Five steps to buying your first home
- Financial preparation: Ensure your finances are in order. You’ll need a 10% deposit, and lenders will scrutinise your last 6 months of current and savings accounts. Clear short-term debts, avoid betting transactions, and ensure you meet the Central Bank of Ireland’s 4-times Loan-to-Income (LTI) limit.
- Get an Approval in Principle (AIP): You’ll need to submit your payslips, employment details and bank statements to a lender or broker. An AIP confirms exactly how much you can borrow. It is usually valid for 6 months and is usually requested by estate agents before you can place a bid on a property.
- Find your home and make an offer: Once a vendor accepts your bid, to secure the sale, you must pay a booking deposit (usually around €10,000) to the estate agent and officially hire a conveyancing solicitor.
- Arrange a valuation and survey: The lender requires a valuation from their approved panel to ensure the property is worth the purchase price. It’s recommended you get an independent structural survey too. Once approved, your lender will issue a legally binding formal Letter of Offer.
- Loan offer, contracts and drawdown: Once your solicitor has reviewed the legal documents, you’re ready to sign contracts and transfer the remainder of your 10% deposit. Your lender will then release (draw down) the funds to complete the sale.
How much can you borrow?
Before you start looking for your first home, you’ll need to determine how much you can afford.
First time buyers in Ireland can borrow up to four times their annual salary. If you’re buying a home with someone else, the loan to income (LTI) is based on your combined income.
The amount you could borrow depends on several factors, including:
- Your income or combined income
- The value of the property
- Your financial commitments
- Your credit history
- Your age or borrowing term
Lenders will also apply a ‘stress test’ by adding a 2% buffer to check that you can afford repayments if they go up. For example, use a 5.5% repayment calculation on a 3.5% mortgage to see if you could still afford the monthly repayment.
Our guide How much can you borrow with a mortgage? explains more and includes a mortgage calculator to help you work out how much you could borrow based on your circumstances.
Each lender may have different lending criteria, but they all have to adhere to mortgage measures set by the Central Bank of Ireland.
Are there exceptions to the Central Bank’s lending rules?
The Central Bank allows lenders to make certain exceptions to the lending-limit rules. These are called mortgage exemptions.
With a mortgage exemption, a first time buyer could potentially borrow up to 4.5 times their income.
Lenders are allowed to offer 15% of first time buyers a mortgage above the income limit or reduce the deposit requirement. Banks allocate these discretionary quotas tightly across the calendar year, prioritising high-income applicants or specific income bands.
Applying for your first mortgage
Starting on your mortgage journey is exciting, but there are several financial rules you’ll need to know before your search begins.
Understanding the mortgage market is crucial to finding the best mortgage for your needs and circumstances.
To get a mortgage loan in Ireland, you’ll be required to:
- meet the lender’s criteria
- show you’re creditworthy
- provide evidence of your income and outgoings
Once you’re ready to apply, obtaining a mortgage Approval in Principle (AIP) is usually the starting point.
This will give you a good indication of how much the lender could lend you, but it isn’t guaranteed.
Our guide: How to get a mortgage Approval in Principle in Ireland explains the process more fully and what to do if you’re not approved.
Before applying, find out the mortgage company’s lending criteria to increase your chance of a successful Approval in Principle (AIP).
Documents you'll need to provide
Lenders need evidence that you are who you claim to be, can afford to repay the loan, and are creditworthy.
How much deposit do first time buyers need?
You’ll need to put down a sum of money up front, which is called a mortgage deposit. You’ll need to provide at least 10% of the property’s purchase price.
For example, if you’re buying a property worth €300,000, you’ll need a minimum mortgage deposit of €30,000.
The greater your deposit, the lower your loan to value (LTV) will be. A lower LTV means better rates, and could ultimately reduce the total cost of your mortgage loan.
Borrowers with a sizeable deposit and a low LTV are eligible for the best mortgage rates because they are deemed less of a risk. To maximise your chance of mortgage approval, save as much as possible before applying.
Should you use a mortgage broker?
A mortgage intermediary or broker can help you find the cheapest mortgage deals and the best home loan for your circumstances.
A mortgage broker can also:
This information is for guidance only, so seek professional financial advice tailored to your circumstances if required.
What does a mortgage lender look for?
Mortgage lenders in Ireland assess various factors to decide if you’re a creditworthy borrower and can afford the mortgage repayments.
They combine their own internal lending criteria with the rules set out by the Central Bank of Ireland (CBI) around loan to income (LTI) limits and loan to value (LTV) limits.
They will look in depth at your:
Other factors they may take into account are:
- Age: Lenders have maximum age limits at the end of the mortgage term, typically between 66 and 75.
- Deposit savings: Lenders like to see your deposit built through regular savings, although gifts from family are usually accepted if supported with evidence.
- Property type: The property you’re buying must meet the lender’s criteria. A valuation will ensure the property’s market value supports the loan amount.
How to improve your credit record
Lenders will access your credit report from the CCR, which records all your credit agreements for loans, credit cards, and other borrowings. They’ll assess your repayment history and personal solvency.
They’ll also check any previous property transactions. If you’ve ever been bankrupt, had a Personal Insolvency Arrangement (PIA), or had a property repossessed, this will weaken your chances of approval.
However, there are many ways you can boost your credit status:
Learn more in our guide How to check your credit record.
Help for first time buyers in Ireland
There are several schemes that help first time buyers purchase their first home.
Help to Buy Scheme
The Help to Buy scheme started in 2017 to help first-time buyers buy newly built homes and self builds. Borrowers can claim a tax rebate of up to €30,000 or 10% of the value of the property. If you qualify, you can claim a refund of income tax and deposit interest retention tax (DIRT). Find out more at Revenue.ie.
First Home Scheme (FHS)
A government-backed scheme to help first-time buyers get on the property ladder. The FHS aims to make house purchases more affordable by supporting homebuyers with the cost of up to 30% of a new home. It’s available for eligible borrowers buying newly built homes and has now been extended to self-builds in rural Ireland.
Local Authority Home Loan
This is a government-backed mortgage for first time buyers or other eligible applicants through local authorities. All types of homes qualify, including those in the Tenant Purchase Scheme and the Affordable Housing Scheme. You can borrow up to 90% of the market value of the property. Find out more at Local Authority Home Loan.
Local Authority Affordable Purchase Scheme
With this scheme, the local authority takes a percentage share in your home to cover the reduction in price. New, affordable homes under this scheme are located in areas with the greatest housing need. To qualify, your gross income must be below 85.5% of the home’s market value. Find out more on the LDA.ie website.
Tips for choosing your first mortgage deal
Your mortgage payments will take a large chunk of your monthly income, so it pays to be prepared and shop around for a mortgage that best suits your needs.
A good place to start your mortgage search is a comparison website that lists Irish banks and lenders and lets you filter your results.
To accurately compare the market, always look at the APRC (Annual Percentage Rate of Charge). It includes all mandatory fees and reveals the true long-term cost of the loan.
Before you compare mortgage deals, you’ll need to know:
First Time Buyer FAQs
What is an Approval In Principle?
An approval in principle, 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. Our guide, How to get a mortgage Approval in Principle in Ireland, explains the process in more detail.
What is the Indicative APRC (Annual Percentage Rate of Charge)?
Mortgage lenders are required to quote the Annual Percentage Rate of Charge (APRC) when advertising a borrowing rate.
The APRC shows you the total cost of a mortgage, including fees, over the entire period of the loan. Its purpose is to help you compare the true cost of borrowing.
For example, a 2 year fixed rate mortgage with an introductory rate of 1.99% and a booking fee of €999 that reverts to the lender’s standard variable rate (SVR) of 4.19% for the next 23 years ends up with an APRC of 3.7%.
The rate is indicative because it’s based on a typical mortgage of €100,000 over a 20 year term.
What is the standard variable rate (SVR)?
A standard variable rate is the lender’s variable rate that you’ll switch over to when your fixed rate period ends. Unlike borrowers with fixed rates, those with an SVR can make unlimited overpayments, pay off the mortgage early, or switch lenders at any time without financial penalty or break fees.
However, SVRs are often higher, so shop around and switch to a cheaper deal when your fixed rate deal ends.
What is a Fresh Start mortgage applicant?
A ‘Fresh Start’ applicant is a borrower who is divorced or separated or has undergone bankruptcy or insolvency, and no longer has an interest in their previous property.
Fresh Start status means lenders may consider you as a first time buyer despite previous ownership. This means you could borrow up to 4 times your gross income and qualify for help to buy schemes.
Are you a first time buyer if your partner has owned a home before?
No, if you apply for a joint mortgage with someone who has already owned a home, you are not classed as a first time buyer.
The Central Bank of Ireland states “Where the borrower under a housing loan is more than one person and one or more of those persons has previously been advanced a housing loan, none of those persons is a first-time buyer.”
How long does it take to get a mortgage?
This can depend on both the lender and you, and whether you’re buying your first home, moving, or switching your mortgage.
You can usually get an Approval in Principle (AIP) within 10 working days, but a mortgage offer will take longer, depending on the situation.
From lender approval to completion, expect at least six weeks, up to three months, or longer if documents or legal steps delay the process.
What other costs are involved in buying a house for the first time?
While saving for your 10% deposit is the biggest hurdle, you will need extra cash upfront to close the sale. Keep these typical first-time buyer fees in mind:
- Stamp Duty: 1% of the property value up to €1 million, 2% on €1m+ to €1.5m and up to 6% on any amount exceeding €1.5m (paid to Revenue).
- Solicitor/Conveyancing fees: Typically €1,500 - €3,000 plus VAT. Always ask if your quote includes 23% VAT and Land Registry outlays, which will add to the final bill.
- Valuation fee: Around €150 - €250, which you’ll need to pay a lender-approved valuer.
- Surveyor fee: Around €300 - €800 for a full structural survey to uncover hidden defects.
- Mandatory insurance: Mortgage Protection Insurance and Buildings insurance must be active before the bank lets you draw down the mortgage.
- Moving costs: It depends on whether you’re doing your own move and just need to pay for the cost of a van, or you’re hiring a removal company. A self-move could cost you at least €150, but expect to pay anywhere between €300 to move into a one-bedroom flat locally to around €5,000 for a long-distance move to a large property.
Compare mortgage rates & deals
Find a range of first time buyer and home mover mortgage deals in Ireland using our comparison.