Property Glossary

The total cost of the loan to the consumer, expressed as an annual percentage of the amount of credit. The APRC includes the interest rate and other costs directly tied to the mortgage (like valuation fees or broker fees), giving you a true comparison of different lenders.

An indication from a lender of how much they are likely to lend you, based on an initial review of your finances. You usually need this before estate agents will let you offer on a property.

An indication of the energy performance of a home, rated from A (most efficient) to G (least efficient). An A or B rating often qualifies the buyer for a discounted "Green Mortgage" rate.

A shared equity scheme where the State and participating banks provide up to 30% of the price of your new home in return for a stake in the property. Crucially, it helps bridge the gap between your deposit plus maximum mortgage and the price of the home.

A mortgage offering a lower interest rate to buyers purchasing highly energy-efficient homes (typically BER B3 or better).

A government tax refund scheme designed to help first-time buyers get the deposit needed to buy or build a newly built home. You can claim a refund of Income Tax and DIRT paid over the previous 4 years, up to €30,000.

The Central Bank of Ireland mandates that the maximum amount you can borrow for a mortgage is typically 4 times your gross annual income. For example, a couple earning €100,000 combined can borrow up to €400,000.

A ratio expressing the size of your mortgage compared to the total value of the property. For example, if you buy a €400,000 home with a €40,000 deposit, your mortgage is €360,000. Your LTV is 90%. First-time buyers in Ireland are typically capped at a 90% LTV.

The final stage of the mortgage process where the lender releases the funds to your solicitor to complete the property purchase.

The legal fees paid to a solicitor to handle the transfer of ownership of the property (conveyancing). These can be a flat fee or a percentage of the purchase price, usually ranging between €1,500 and €3,000 in Ireland plus VAT.

A mandatory government tax paid by the buyer upon the transfer of property. In Ireland, the rate is 1% on the first €1,000,000 of the property value, and 2% on any excess over €1,000,000.

A fee paid to a professional valuer to determine the fair market value of the property. Lenders require this before approving the mortgage to ensure the property is adequate security for the loan. Typical costs are €150-€250.