Compare fixed rate mortgages in Ireland
Find Ireland’s best fixed rate mortgages and compare costs. Search by property value, mortgage loan and repayment term for the lowest fixed interest rates.
LatestMortgage interest rates
The European Central Bank (ECB) sets interest rates for the euro area every six weeks.
The refinance rate was cut by 0.25 basis points to 2.15% in June 2025.
When the ECB rate changes, your lender can increase or reduce your mortgage rate if you’re on a variable rate, but is under no obligation to do so. Those on tracker mortgages may feel the impact of changes immediately.
If you have a fixed rate mortgage, the interest rate will stay the same until your deal ends.
What is a fixed rate mortgage?
It’s a mortgage where the interest rate is fixed for a set amount of time. This means your monthly mortgage payments remain the same during the period.
Fixed interest rate mortgages are suitable for:
Fixed rate terms are typically available for between one and ten years, although they can last longer. Most lenders offer a range of mortgages, so you can choose the term that best fits your needs.
Fixed interest rate mortgages differ from variable rate mortgages, where the interest rate and your monthly repayment could rise or fall throughout the mortgage term.
After the fixed rate period ends, you usually roll onto the lender’s standard variable rate (SVR), unless you switch to another deal.
Main benefits are:
Despite the benefits, downsides to consider include:
| Feature | Fixed Rate | Variable Rate | |
|---|---|---|---|
| Rate and repayments | Remain unchanged | May fluctuate | |
| Budget predictability | High | Low | |
| Flexibility | Limited | High | |
| Protection from rate rises | Yes | No | |
| Early repayment penalties | Typically | Rarely |
How long are fixed rate mortgages for?
Most lenders offer short-term fixed rate mortgages for between one and seven years.
However, several lenders also offer 10 year fixed rate mortgages, and Avant Money offers a home loan called the “One Mortgage” that can be fixed for up to 30 years.
They are usually known as:
- Short-term fixed rate mortgages: One to seven years
- Long-term fixed rate mortgages: Over 10 years
How long should you you fix your mortgage for?
It depends on individual circumstances, financial plans, and mortgage market predictions.
Shorter fixes offer more flexibility but mean reviewing and switching your mortgage more frequently.
For instance, with short-term fixed rates, you’ll need to factor in the costs associated with switching your mortgage. This is because you’ll need to remortgage more frequently with a shorter fixed term loan.
On the other hand, longer fixes offer more long-term certainty but might come with slightly higher initial rates.
If you opt for a longer fixed rate and interest rates drop during your fixed period, you won’t be able to switch and take advantage of a cheaper mortgage loan. This could have a significant impact if you’re locked into your mortgage deal for a long time.
What happens when your fixed rate mortgage ends?
When the term ends, you’ll switch over to the lender’s standard variable rate (SVR).
Once the fixed term period is over you are free to:
- overpay your mortgage as much as you like
- pay off your outstanding mortgage balance early
- switch your mortgage without penalty.
Are there charges if you switch to a fixed rate?
If you’re on a variable rate mortgage, you’re not locked into a deal, so you can switch whenever you like.
However, if you are tied into your fixed rate deal and switch before your fixed term ends, you’ll have to pay an early repayment charge (ERC), which could be expensive. Check with your lender before switching.
Whenever you switch mortgage, there are valuation fees and solicitor costs to consider, so before you go ahead, find out the likely costs and factor them into how much you’ll save.
Are fixed rate mortgages cheaper than variable rate mortgages?
As interest rates are still relatively high, some fixed mortgages have the lowest rates available in Ireland at the moment.
Figures from the Central Bank of Ireland in June 2025 reveal that over 81% of new mortgages in Ireland are now fixed, as homeowners look for stability during uncertain times.
With such a big difference between the lowest and highest fixed rate on the market, you could save thousands of euros if you switch once your fixed rate term ends. But always check the total cost of the mortgage and factor in additional switching costs.
How to choose the right fixed rate mortgage
Choosing the best fixed rate mortgage isn’t always as simple as picking the lowest interest rate because there are several factors to weigh up.
You’ll need to decide the best mortgage for your needs, so whether you choose a long or short term fixed or a variable rate loan, consider:
In a nutshell, take into account your financial outlook and future plans.
A long-term fixed rate offers stable payments for easier budgeting, but you could miss out if interest rates fall. Shorter fixes offer more flexibility but mean reviewing and switching your mortgage more frequently.
Tips for switching to a fixed rate mortgage
Use our mortgage search to find a range of the best mortgages from Ireland’s top lenders.
You can apply directly to the lender or via a mortgage broker (mortgage credit intermediary). A mortgage broker is particularly helpful if you think you may benefit from free expert advice.
Before you start your search, take these steps to ensure you find the best mortgage for your needs.
- Get an up to date valuation of your home to determine your loan to value (LTV)
- Find out your outstanding mortgage balance from your latest statement or online account
- Learn how much you can borrow by using our mortgage calculator
- Compare mortgages with the right LTV so you get the best rates
- Choose a fixed rate deal with a low APRC (Annual Percentage Rate of Charge)
- Check for incentives like cashback, which could cover legal fees
- Compare the total savings over your remaining term, after factoring in fees and cashback
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. Its purpose is to help you compare the true cost of borrowing.
The APRC shows you the total cost of a mortgage, including fees, over the entire period of the loan.
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.
Check out our complete guide to mortgages for everything you need to know about home loans.