Comparison of Mortgage Interest Rates in Ireland
We regularly do a comparison of the mortgage rates on offer to new customers from the major Irish lenders.
Listed below are links to our pages showing the current lowest mortgage rates on offer for you to make comparisons. We compare variable interest rate mortgages as well as a selection of fixed-rate mortgages.
Fixed rates are currently lower than variable-rate mortgages in Ireland .
Mortgage rates have been at low levels for a few years now – but ongoing ECB rate increases will mean mortgage rate rises are on the way in 2023.
The current lowest variable mortgage rate available (November 2023) for first-time buyers who have only a 10% deposit is from Haven , EBS or AIB at – 4.15 % .
The lowest fixed rate for a 90% LTV is a 4-year fixed rate of 3.65% (If the house has a BER better than C1) at BOI .
Avant Money has a 3-year fixed rate of 4.05% with no BER conditions.
For an LTV under 60% the lowest fixed mortgage rate without any BER requirements, is currently available from Avant at 4% (Fixed for 3 years).
You can get 3.65% fixed for 4 years on houses with a BER of B3 or better from Haven.
Both of these mortgages are only available through brokers.
Whilst we strive to maintain the various charges and rates and update them when changes occur – customers should double-check with the financial institutions or companies for confirmation of current rates or prices.
Switching Mortgage
If you have had a mortgage for a few years – you will owe less on it and the value of your house will have increased. For example – if you took out a €300,000 mortgage on a €330,000 house 5 years ago with a rate of 3.7% – you will now owe €260,000. House prices have risen about 40% in the past 5 years – so it is probably worth around €460,00. This works out at an LTV (Loan to Value) of just 57% – which will allow you to get a much lower mortgage interest rate. See some examples of Mortgage Switching Calculations .
Using a Mortgage Broker
Sometimes, the large number of different mortgage options available can be overwhelming.
Help is available from Money Sherpa. Their team of experienced and fully qualified mortgage advisors know the mortgage market inside out.
Some lenders , such as Avant and Haven , are only accessible through brokers such as Money Sherpa .
(DFP Mortgages Limited trading as Moneysherpa is regulated by the Central Bank of Ireland.)
Find out more about Money Sherpa and book a free mortgage check here.
Summary of Lowest Mortgage Interest Rates
Updated November 3rd 2023
Lowest Variable Rate Mortgages
More information here on How Much You Can Borrow
Details of Mortgage Lending Limits in Ireland
See some Mortgage repayment calculations here
You might also want to check these interesting figures on Cashback Mortgages
Fixed Rate or Variable – Which is Best ?
The most important thing to remember is with a fixed rate, you have the safety of knowing exactly what your mortgage repayments will be for a certain period of time. You will not be affected by sudden increases (or decreases). With interest rates at their lowest for many years – it is likely that variable rates will increase during the next few years.
Over the past several years it was usually the case that variable mortgage rates were often lower than fixed rates – but right now some of the fixed rate deals are lower than variable rates.
Find out more about Irish Mortgage Lending Limits
Mortgage Cashback :
- Haven will give €5000 cashback on fixed-rate mortgages of €250k plus. (excluding 4 year fixed rate green mortgage)
- BOI offer 2% cashback to all new customers and 3% to those who stay with them for 5 years. (no maximum cashback).
- PTSB also offers 2% cashback lump sum for new customers (not on the 4 year fixed rate) and 2% off the monthly repayments back until 2027
- EBS also give 2% cashback to all new mortgage customers (not on Green rate)- plus another 1% if you stay with them for 5 years.
- AIB give €2000 cashback for switchers.
How Much Can You Save By Switching Mortgage?
If you are looking for a mortgage in Northern Ireland you should visit the Unbiased website where you can get access to Mortgage Advisors in your area.