Lowest Mortgage Rates in Ireland

We always try to keep potential homebuyers or mortgage switchers up to date on the lowest mortgage rates available in Ireland. Doing a comparison of Irish mortgage interest rates  is easier in 2018  than it was a few years ago –  because there are fewer lenders operating in Ireland and a lot less mortgage products.

See our full  list of the Lowest Mortgage Rates here.

Fixed Rates

Currently , in our opinion , the best overall deal for first time buyers or switchers  is  to go for a 3 or 5  year fixed rate at 3% from Bank of Ireland –  with a maximum LTV of 90%. BOI are aso offering up to 3% cashback   for all new mortgage customers .  EBS have  cut their fixed rates to 3% too – but with a maximum of 2% cashback available

Ulster Bank’s 3 year fixed rate of 2.99% is good – with €1500 cashback – but we think the BOI 5 year fixed rate will work out better over 5 years especially with the extra cashback.

Ulster Bank have 4 year fixed rate of 2.85 %    –  just below BOI  – but the larger cashback offer from BOI works out as a better overall deal in our opinion.  (See some figures here) .

Variable Rates

One of the lowest variable mortgage rates for new customers is from AIB or Haven at  3.15% with a maximum LTV of 90%.

If you can manage a 20% deposit – you could get a variable rate of 2.95% – again from AIB or Haven . But with a 5 year fixed rate at 3% you will get more certainty of how much your repayments will be for longer .

If you are thinking of switching your mortgage to get a lower rate – you should take account of the fact there will be  legal costs and valuation fees involved (Typically €1,300  in total)  But many lenders are offering cashback to new customers to help with switching costs.

See some calculations on mortgage switching here.

See all the Lowest Mortgage Rates here

More about the Rules on Mortgage Lending Limits in Ireland Here .

Also – if you are having problems getting a big enough mortgage from the banks – you should think about applying for a mortgage under the Rebuilding Ireland Home Loan scheme. They are offering a pretty good long term fixed rate of just 2% over 25 years – but you must have applied to two banks and been refused first.

Interest Rates Figures checked October  2018