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 a bit easier in 2021 than it was a few years ago – because there are fewer lenders operating in Ireland and a lot fewer mortgage products.
See our full list of the Lowest Mortgage Rates here.
For first time buyers looking for as much as a 90% mortgage – the lowest rate available is a 2.3% fixed for 2 years at KBC for existing customers only .
Newcomers , Avant Money , have a three year fixed-rate mortgage at 2.35% on LTV up to 90% (See some figures here) .
If you can afford a 20% deposit – you can get a 5 or 3 year fixed rate of 2.2% at Avant Money .(LTV 70 to 80%)
Ulster have a 2 year fixed rate of 2.25% for LTVs upto 80%
The lowest variable mortgage rates for new customers are 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.
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.
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 2.745% over 25 years – but you must have applied to two banks and been refused first.
Also – check out our page about the Help to Buy Scheme
Interest Rates Figures checked January 2021