How to get a mortgage in Ireland

1. Illustrations are based on a 5 Year Fixed rate of 4.0% (APRC 4.1%) This rate will revert to the standard variable rate which is currently 4.5% (APRC 4.6%) after 5 years.
2. Minimum loan amount is €250,000.
3. No cashback available with this rate.
4. Central Bank deposit rules require a minimum deposit of 10% for First Time Buyers and second/subsequent buyers (not applicable for Switcher mortgages).
5. The Loan-to-Income limit restricts the amount of money you can borrow to a maximum of 4 times gross income for First Time Buyers and 3.5 times gross income for second/subsequent buyers.
6. Maximum Loan to Value (LTV) 90%.
7. New customer business only.
8. With the Help to Buy Scheme for First Time Buyers of new houses, a tax rebate of up to 10% (subject to an upper limit of €30,000) of the purchase price is potentially available on properties costing €500,000 or less. (Revenue Terms & Conditions apply).
9. The First Home Scheme will finance up to 30% of your new property, this will reduce to 20% for those who are participating in the Help to Buy Scheme.
10. The First Home Scheme is only available for newly built houses or apartments in a private development in the Republic of Ireland.
11. The First Home Scheme is only available for properties intended as the homebuyers Principal Private Residence.
12. Participating Lenders do not advise or consult with homebuyers on the Terms and Conditions of the First Home Scheme. Please visit www.firsthomescheme.ie for full Terms and Conditions.
13. Rates correct as at 14.04.2023

WARNING: Property prices can go up and down. As the equity facility is linked to the value of your home, any change in property prices will affect any partial or final redemption amounts. If property prices increase/decrease over time, the percentage equity you have to redeem will remain the same but the € amount will increase/decrease. See example in the case of a price increase below:

Customer purchases a property for €250,000, availing of €25,000 from the First Home Scheme (FHS) which means the FHS has a 10% FHS equity share in your home.

Sometime in the future you decide to buy out the FHS equity share. The home is now valued at €350,000. As the FHS equity share is unchanged at 10%, you will now need €35,000 plus any accrued service charges payable, to redeem the FHS equity share in the home.

WARNING: The First Home Scheme is not regulated by the Central Bank of Ireland and the equity product is not governed by the Central Bank and its statutory codes of conduct and/or other regulations to include the Consumer Protection Code.

Therefore, no enforceable consumer protections will apply.

WARNING: The provision of this product or service does not require licensing, authorisation, or registration with the Central Bank of Ireland and, as a result, it is not covered by the Central Bank of Ireland’s requirements designed to protect consumers or by a statutory scheme.