Compare variable rate mortgages

A variable rate mortgage offers you the flexibility to overpay or redeem your mortgage at any time without penalty. Compare variable rate mortgages from Ireland’s best lenders.

You have a 57.1% loan to value (LTV)
We found 7 results for you
Sorted by Annual Percentage Rate
Flex Mortgage
2.98%
Variable rate
80.0%
Max LTV
€1,107.19
Monthly payment
Flex Mortgagei
The Flex Mortgage rate has two elements; a benchmark rate and a margin. The Benchmark is based on an external reference rate, the 12-month Euribor and is adjusted each year. The Margin will remain the same for the life of your mortgage. Your rate is linked to the 12-month Euribor rate and will be reset each year to reflect market rates - this means it could go up or down. The Benchmark Rate is subject to change, and Avant update it monthly on the 10th of the month (or next business day). The rate which will apply at drawdown will be Avant Money's published benchmark rate as at that date plus the agreed margin. T&C's apply.
Benchmark rate of 2.08% plus a 0.90% margini
The Benchmark Rate is subject to change, and Avant update it on the 10th of each month. The rate that will apply to your Flex Mortgage at drawdown will be Avant Money’s published Benchmark Rate as at that date plus the margin as confirmed in your loan offer. T&C's apply.
Variable
3.95%
Variable rate
80.0%
Max LTV
€1,206.70
Monthly payment
Variable
3.95%
Variable rate
80.0%
Max LTV
€1,206.70
Monthly payment
Variable
3.95%
Variable rate
80.0%
Max LTV
€1,206.70
Monthly payment
Variable
4.15%
Variable rate
90.0%
Max LTV
€1,227.83
Monthly payment
Variable
4.3%
Variable rate
60.0%
Max LTV
€1,243.81
Monthly payment
Variable
4.4%
Variable rate
60.0%
Max LTV
€1,254.53
Monthly payment
Up to 2% Cashbacki
Get 2% of the value of your mortgage back in cash. Cashback paid within 40 working days of mortgage drawdown. Offer available on both variable and fixed rate mortgages. Offer available to qualifying applicants who receive their full mortgage Letter of Approval from PTSB on or before 30 September 2025. Exclusions apply. You can also get 2% of your monthly mortgage repayments back in cash every month until 31 December 2030, when you pay from an Explore Account. Offer available to qualifying applicants who receive their full mortgage Letter of Approval from PTSB on or before 30 September 2025. T&Cs apply.
* Indicative APRC (Annual Percentage Rate of Charge): calculations are based on a typical mortgage of €100,000 over a 20 year term.
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 base 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.

Source: European Central Bank, Key ECB interest rates

What is a variable rate mortgage?

It’s a type of home loan where the interest rate changes over time, meaning your monthly repayments can go up or down. This differs to a fixed-rate mortgage, where the interest rate remains the same for a set period.

Its two main features are:

  • The interest rate isn’t fixed, and can increase or decrease, often in line with a benchmark rate, such as the European Central Bank (ECB) base rate.
  • Your monthly repayments may change as the interest rate fluctuates. If the rate goes up, your payments will increase and if it drops, your payments will reduce.

In Ireland, variable rate mortgages are currently available as:

  • Standard variable rate mortgages: This is the basic interest rate set by a mortgage lender. It’s often the rate you’ll automatically move onto once your fixed-rate or tracker deal ends. Lenders have the discretion to change their standard variable rate (SVR) at any time, though they often move in line with the ECB base rate. They are typically higher than fixed rates.
  • Tracker mortgages: This type of mortgage tracks a benchmark interest rate, plus a set percentage (known as margin). For example, if the base rate is 2% and the margin is 0.5% your tracker mortgage interest rate would be 2.5%. Your monthly repayments alter when the base rate changes.

The pros and cons of variable rate mortgages

Weigh up the details and pros and cons of variable rate mortgages and fixed rate deals and compare the best deals across both. A variable rate doesn’t guarantee set payments like a fixed rate mortgage, but it does offer other advantages.

Pros

Cons

  • Interest rates may go up
  • Monthly repayments may increase
  • It is harder to budget long-term

Fixed or variable rate mortgages - which is best?

A fixed rate deal can offer peace of mind for the duration of the term and certainty over monthly payments, but variable-rate mortgages are popular when interest rates are lower or are predicted to go down.

If flexibility is more important to you than stability, a variable rate mortgage is worth considering. You can always switch to a fixed rate deal in the future if you want to fix the interest rate and payments.

Whatever you decide, remember to factor in fees for switching your mortgage, as well as the ability to afford potential interest rate increases.

How to choose a variable rate mortgage

Once you’ve found out how much you can borrow use our mortgage search to compare variable rate deals.

Here are a few things to consider:

  1. Type of variable rate
  2. Interest rates
  3. Mortgage features
  4. Terms and conditions

1. Choose a type of variable rate

Although not all are available in Ireland, you may see these advertised from time to time:

  • Standard variable rate (SVR): The lender’s variable rate that you usually default to at the end of a fixed or discounted period.
  • Tracker variable rate A mortgage product that’s tied to a benchmark interest rate. Your monthly repayment payments will change when the base rate changes.
  • Discounted variable rate: A rate that’s lower than the standard variable rate (SVR) and runs for a set term, usually a year. At the end of the discounted period, the rate will revert to the SVR.
  • Capped variable rates: Any rate increases are capped during the term, so even if the European Central Bank (ECB) rate goes up, the impact is limited.

2. Look for low interest rates

The lower the rate, the less you’ll pay in interest and the lower your monthly mortgage repayments. Pick a deal that offers a low indicative APRC (Annual Percentage Rate of Charge). The APRC shows you the total cost of a mortgage, including fees, over the whole term.

Unlike a fixed rate mortgage, a variable rate mortgage may change if the ECB rate changes.

3. Compare mortgage features

Some lenders may offer additional features like cashback or discounted rates for homeowners with a good energy rating (BER).

Cashback mortgages work by releasing funds from the money you borrow. The cash is usually paid into your bank account after you draw down your mortgage within two months of completion, although some banks may provide the money upfront.

4. Read the terms carefully

Read the terms of any mortgage you’re interested in carefully and seek advice if there is anything you’re unsure about.

For instance, check any arrangement or product fees. If there’s a discount period, check how long this will last, and if you’re switching your mortgage, factor in solicitor and valuation fees.

Talk to the lender or get advice from a mortgage broker if you need further clarification.

Popular questions

When can I switch to another mortgage deal?

With a variable rate mortgage you’re free to switch whenever you like.

You’ll need to meet the lending criteria to switch, and if you switch lenders too, you’ll have to go through the mortgage application process in full.

Here’s how to prepare for a mortgage application.

When will my variable interest rate change?

Lenders usually increase or lower their rates in line with the ECB rate but not always. They may choose to change their standard variable rate whenever they like.

What is a tracker mortgage?

A tracker is a type of variable rate mortgage that tracks the European Central Bank (ECB) or Euribor rate, at a set percentage above or below. This means that the rate automatically changes when the ECB rate changes.

They’re not widely available as new mortgage deals, but if you already have one, some lenders offer a follow-on tracker mortgage if you’re moving home.

For example, if you have a Bank of Ireland tracker mortgage, they offer a Tracker for Movers, that will continue to track the ECB rate.

If you’re considering switching your tracker mortgage:

  • talk to an approved mortgage advisor and discuss all your options
  • compare your current rate with the ECB rate
  • compare mortgage rates online to see how much you’ll save
  • remember once you leave your tracker, you can’t go back

What is the Indicative APRC (Annual Percentage Rate of Charge)?

Mortgage lenders are required to quote the APRC in their advertising to ensure consumers have a clear, comparable figure for the total cost of borrowing.

It shows the total cost of a mortgage, including fees, over the entire loan period, so it helps you compare the overall cost of your mortgage (if you don’t switch during the term).

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.

Compare mortgage rates & deals

Find a range of first time buyer and home mover mortgage deals in Ireland using our comparison.

Warning: If you do not keep up your repayments you may lose your home. Warning: The cost of your monthly repayments may increase. Warning: You may have to pay charges if you pay off a fixed rate loan early. Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future. Warning: The entire amount that you have borrowed will still be outstanding at the end of the interest-only period. The payment rates on this housing loan may be adjusted by the lender from time to time. (applies to variable rate loans only) Information provided and Interest rates quoted valid at 01/07/2025