How Mortgage Repayments are Calculated in Ireland
Mortgage repayments in Ireland are calculated based on your principal (loan amount), the annual interest rate (AIR), and the term of the loan. Most Irish mortgages are "annuity" mortgages, meaning your monthly payment repays both the interest and a portion of the original capital.
Central Bank of Ireland Lending Rules
If you are a first-time buyer in Ireland, the Central Bank allows you to borrow up to 4 times your gross annual income. You will also need a minimum deposit of 10% of the property value. Second and subsequent buyers are also restricted to 4 times their income and a 10% deposit. Use our First-Time Buyer Affordability Calculator to check your buying power.
Key Factors Affecting Your Repayment:
- Interest Rate: Rates vary by provider (e.g., AIB, Bank of Ireland, PTSB). Even a 0.5% reduction can save thousands over the term. Consider comparing fixed vs variable rates with our full analysis.
- Term Length: Longer terms (e.g., 25 years vs 35 years) reduce monthly costs but increase the total interest paid significantly. Our amortization chart below visually demonstrates how different terms affect your total cost of credit.
- BER / Green Rates: Properties with an A-C BER rating often qualify for lower "Green" interest rates from Irish lenders, saving you substantial amounts over the lifetime of the loan. A typical green rate discount is 0.2%-0.5%.
Current Irish Mortgage Rates by Lender
As of 2026, mortgage rates in Ireland range from approximately 3.0% to 4.5% depending on the lender and product. Green mortgage rates for energy-efficient homes (BER A-B) are typically 0.2%-0.5% lower. Tracker rates are linked to the ECB deposit rate (currently ~2.65%).
| Lender | Product | Rate |
|---|---|---|
| Avant Money | 3 Year Fixed | 3.60% |
| AIB | 5 Year Fixed (Green) | 3.65% |
| AIB | 3 Year Fixed | 3.75% |
| Bank of Ireland | 3 Year Fixed (High Value) | 3.80% |
| Permanent TSB | Green / High-Value Fixed | From 3.00% |
| Haven Mortgages | Fixed Rate | ~3.70% |
| EBS | Fixed Rate | ~3.80% |
| Finance Ireland | Fixed Rate | Custom |
Rates shown are indicative and change frequently — always confirm the current rate directly with the lender or a mortgage broker before making a decision.
Monthly Repayments by Loan Amount
A quick reference for common mortgage sizes in Ireland, calculated at an indicative 3.5% interest rate over 25 and 30 years. Use the calculator above for your own exact figures.
| Loan Amount | Monthly (25yr @ 3.5%) | Monthly (30yr @ 3.5%) |
|---|---|---|
| €150,000 | €751 | €674 |
| €200,000 | €1,001 | €898 |
| €250,000 | €1,252 | €1,123 |
| €300,000 | €1,502 | €1,347 |
| €350,000 | €1,752 | €1,572 |
| €400,000 | €2,002 | €1,796 |
| €450,000 | €2,253 | €2,021 |
| €500,000 | €2,503 | €2,245 |
| €600,000 | €3,004 | €2,694 |
| €750,000 | €3,755 | €3,368 |
Other Costs to Budget For
- Mortgage broker: A broker can compare rates and cashback across every lender in one application — useful for self-employed applicants or complex income. Most are paid by the lender, so there's often no direct cost to you.
- Mortgage protection insurance: A legal requirement for most Irish mortgages (with limited over-50 exemptions), typically €20-€60/month depending on age, loan size, and health. It clears the mortgage balance if you die during the term.
- Conveyancing solicitor: Budget €1,500-€3,000 plus VAT for legal fees, plus Land Registry and search costs — €2,000-€4,000 all-in is a realistic total for a typical purchase.
- Building survey: Not legally required, but a €300-€600 structural survey before you bid can reveal defects worth renegotiating over — cheap insurance against a costly surprise.
Loan-to-Value (LTV) and Your Deposit
Your LTV ratio (loan amount ÷ property value) directly affects the interest rate you'll be offered. A 90% LTV (10% deposit) typically commands a higher rate than a 80% LTV (20% deposit). This calculator shows your exact LTV based on the deposit amount you enter. For more deposit planning, see our Equity Gap Calculator.
Mortgage Overpayments: How Extra Payments Save You Money
Paying even €50-€100 extra per month can save you tens of thousands of euros in interest and shorten your mortgage term by years. This calculator's overpayment feature shows the exact impact: your interest saved and years freed from your mortgage. Most Irish lenders allow overpayments up to 10% of the outstanding balance annually without penalty on fixed-rate products.
Don't Forget About Extra Costs
Calculating your mortgage is just step one. Don't forget to budget for Stamp Duty (1% up to €1M, 2% above), legal fees (typically 1-2% of purchase price), valuation fees (~€150-€200), survey costs (~€300-€500), and life/mortgage protection insurance. First-time buyers of new builds might also qualify for the Help to Buy (HTB) scheme, which can grant up to €30,000 towards your deposit.
Frequently Asked Questions
How much deposit do I need for a mortgage in Ireland?
For first-time buyers in Ireland, the Central Bank requires a minimum deposit of 10% of the property purchase price. Second and subsequent buyers also require a 10% deposit.
How much can I borrow for a mortgage in Ireland?
Under Central Bank rules, first-time buyers and second-time buyers can typically borrow up to 4 times their gross annual household income.
What are current mortgage rates in Ireland in 2026?
In 2026, mortgage rates in Ireland typically range from 3.0% to 4.5% depending on the lender and product. Green mortgage rates (for A-B BER rated homes) are often 0.2%–0.5% lower. The ECB deposit rate is currently around 2.65%, influencing variable and tracker rates.
What is the Help to Buy (HTB) scheme in Ireland?
The Help to Buy scheme allows first-time buyers of new-build homes to claim a refund of income tax and DIRT paid over the previous 4 years, up to a maximum of €30,000 or 10% of the purchase price. The property must be your principal private residence and cost no more than €500,000.
Does overpaying your mortgage save money in Ireland?
Yes. Even a small monthly overpayment can save tens of thousands of euros in interest and shorten your mortgage term significantly. Most Irish lenders allow overpayments but some charge a breakage fee on fixed-rate products. Use the overpayment field above to see exactly how much you'd save.