Irish Mortgage Calculator

Based on CBI retail interest rate statistics (Q1 2026):

• Variable owner-occupier: approximately 3.90% APR
• Avant Flex (Euribor-linked, ≤80% LTV): 3.65% APR
• Best 4-year fixed (PTSB): from 3.00% APR
• Best 4-year Green fixed (BoI, BER A3+): 3.10% APR
• Variable BTL (investor): approximately 4.70% APR

The ECB Deposit Facility Rate is 2.50% (effective 16 September 2026). Irish mortgage rates sit roughly 0.8–2.5 percentage points above the ECB Deposit Rate. Per CBI retail rate statistics.

Several Irish lenders (Bank of Ireland, AIB, PTSB) offer a Green Mortgage discount of 0.10–0.30% on fixed rates for properties with a Building Energy Rating (BER) of A3 or better.

The discount typically applies to:

• New builds with high energy efficiency
• Second-hand homes that have been retrofitted (heat pump, insulation, solar PV) to achieve BER A3+
• Both first-home and home-mover purchases (BTL may be excluded)

Best Green Fixed example: BoI 4-year Green Fixed at 3.10% APR for ≤90% LTV (May 2026). Always check the BER certificate before applying — if it expires or the lender requires re-rating, you must keep it current.

Common home loan fees include:

• Application / arrangement fee: generally €0–€500 (many IE lenders waive this)
• Legal fees (solicitor): €1,500–€3,000 for property purchase
• Valuation fee: €150–€300 (required by lender)
• Stamp duty: 1% up to €1M / 2% €1M–€1.5M / 6% above €1.5M
• Survey / structural report: €300–€600 (recommended for older homes)
• Mortgage protection insurance: required by Consumer Credit Act 1995 — €15–€60/month for a typical loan
• Property insurance: required during the mortgage
• Break funding cost: on fixed-rate loans if exited early — calculated on rate differential, can be substantial

Per CCPC, request a full fee schedule and Mortgage Information Document (MID) before committing.

The impact of a rate difference is substantial due to compounding over a long term. On a €360,000 loan over 30 years:

• At 3.10% APR: total interest is approximately €193,000
• At 2.60% APR (0.50% lower): total interest is approximately €160,000 — a saving of ~€33,000
• At 3.60% APR (0.50% higher): total interest is approximately €227,000 — an extra cost of ~€34,000

Even a 0.25% rate difference saves or costs approximately €17,000 over 30 years. Switching lenders — or simply asking your existing lender for a rate review at refix time — is therefore high-value action. Per CCPC mortgage switching guidance.

A fixed rate gives certainty — repayments do not change for the fixed period (typically 1–10 years in Ireland), regardless of ECB or Euribor movements. It suits borrowers who need budget certainty or expect rates to rise during the fixed period. Overpayments are usually capped at ~10% of the outstanding balance per year and break funding costs apply on early exit.

A variable rate (SVR or Avant Flex) moves with the bank's discretion (SVR) or with Euribor (Avant Flex) — borrowers benefit from cuts but are exposed to rises. Variable loans allow unlimited overpayments and no break costs. The majority of Irish new mortgages are now fixed-rate — most for 3–5 years.

It depends which of two different arrangements is meant, and the difference is large.

Equivalent fortnightly — the same repayment split into 26 instalments over the same term — is close to neutral. On a EUR 360,000 loan at 3.10% over 30 years that saves about EUR 380 across the full term and does not shorten it.

Paying half the monthly repayment every fortnight is the arrangement that produces the large figures: 26 half-payments add up to 13 monthly repayments a year. On the same loan that saves approximately EUR 25,000 in interest and cuts around 3.6 years off the term. The saving comes from paying down principal faster. Aligning repayment frequency with the pay cycle is the most practical approach. Note: most fixed-rate loans require lender approval to change repayment frequency mid-fix.

Overpayments directly reduce the outstanding principal, so less interest accrues on every future repayment. On a €360,000 loan at 3.10% over 30 years:

• Adding €200/month overpayment saves approximately €25,000 in total interest and cuts around 3.5 years off the loan
• Adding €500/month saves ~€55,000 and 7 years

Savings are largest when overpayments are made early in the loan — because the balance (and therefore the interest charged) is highest. Variable rate mortgages typically allow unlimited overpayments. Fixed-rate loans usually cap overpayments at 10% of the outstanding balance per year and may charge break funding costs on amounts above the cap — check your loan offer.

Break funding costs (sometimes called "break fees") are charged when a fixed-rate loan is paid off early or repaid above the contracted overpayment cap, before the fixed term ends. They compensate the lender for the difference between the loan's fixed rate and the current wholesale rate (typically Euribor).

Break costs are highest when interest rates have fallen since fixing. For example, a borrower who fixed at 4.5% in 2023 and now wants to break to refix at 3.0% would face material break costs because the lender priced their funding against the higher rate. Variable rate (SVR or Avant Flex) borrowers can switch at any time without break costs. Always request a written break funding cost quote before deciding to break.

Mortgage stress is commonly defined as spending more than 30% of net household income on mortgage repayments. Irish banks apply a serviceability assessment when approving loans — typically testing the borrower's ability to service the loan at a higher stressed rate (often current rate plus 2% buffer).

To reduce risk: keep LTV below 80%, build a 3–6 month repayment buffer in a savings account, choose the shortest loan term comfortably affordable, and review the rate at every refix. Borrowers experiencing hardship can contact their lender — under the Code of Conduct on Mortgage Arrears (CCMA), they have the right to request a Mortgage Arrears Resolution Process (MARP).

Ireland's main first home buyer supports for 2026:

• Help to Buy (HTB): income tax refund of up to €30,000 or 10% of property price (whichever is lower) — new builds only, max property price €500,000, mortgage LTV ≥70%. Extended to 31 December 2029.
• First Home Scheme (FHS): government equity stake of up to 30% of property value (20% if HTB also used). 0% service charge for first 5 years.
• Mortgage Interest Credit: max €625 tax credit in 2026 (final year, down from €1,250 in 2025).
• Local Authority Home Loan: discounted fixed-rate mortgage up to €360k for those unable to get sufficient bank funding.

All schemes can be combined where eligible. Always verify current rules with the relevant authority before purchasing.

The Help to Buy (HTB) scheme provides eligible first-time buyers with an income tax refund of up to €30,000 or 10% of the property price (whichever is lower). The refund is sourced from the income tax and DIRT the buyer paid in the four tax years before applying.

Per Revenue, key eligibility criteria:

• First-time buyer only: the buyer (and any co-buyer) must never have purchased a residential property in Ireland or anywhere
• New build or self-build only: second-hand homes excluded
• Property price cap: €500,000 maximum
• Mortgage LTV: minimum 70% (mortgage must be at least 70% of the price)
• Reside as principal place of residence for at least 5 years
• HTB extended: available until 31 December 2029

The First Home Scheme (FHS) is a shared-equity scheme — the government takes an equity stake of up to 30% of the property value (20% if Help to Buy also used) in exchange for reducing the mortgage the buyer needs.

Per First Home Scheme rules:

• Service charge: 0% for the first 5 years, then phased in from year 6 (1.75% capped initially, rising over time)
• Eligibility: first-time buyers, fresh start applicants (divorced/separated), or borrowers in mortgage difficulty
• Property: mainly new build or self-build (some second-hand homes added in specific areas)
• Property price caps vary by region: Dublin ~€500k, Cork/Galway ~€450k, other ~€300–375k
• Can be combined with HTB — but FHS equity capped at 20% if so
• Repayment: the equity stake must be redeemed when the property is sold, refinanced, or by year 30

Per CBI macroprudential rules, the minimum deposit depends on borrower type:

• First Time Buyer (FTB): 10% deposit (90% LTV cap)
• Second & Subsequent Buyer (SSB): 20% deposit (80% LTV cap)
• Buy-to-Let (BTL): 30% deposit (70% LTV cap)

For a €400,000 FTB purchase: minimum deposit is €40,000. For an SSB purchase at the same price: minimum deposit is €80,000. Additional upfront costs include legal fees (€1,500–€3,000), valuation (€150–€300), stamp duty (1% up to €1M), and mortgage protection insurance.

Help to Buy can refund up to €30,000 of the deposit (income tax already paid). The First Home Scheme can take up to 30% government equity to reduce the cash deposit needed for FTBs.

Per Revenue, residential stamp duty applies to all property purchases — there is no FTB exemption in Ireland. Rates (effective from 2 October 2024):

• Up to €1,000,000: 1% of price
• €1,000,000 – €1,500,000: 2% on the portion above €1M
• Above €1,500,000: 6% on the portion above €1.5M (new top band from Oct 2024)
• Bulk purchase 10+ houses: 15% (raised from 10% in Oct 2024; apartments not included)

On a €400,000 purchase: stamp duty is €4,000 (1% of price). Non-residential property is taxed at 7.5% as a flat rate. Stamp duty is payable by the buyer at the time of completion, in addition to legal fees and registration costs.

Per Revenue, mortgage interest on a residential buy-to-let (BTL) investment property is fully deductible (100%) against rental income — this has been the position since 1 January 2019, when the 25% restriction was completely removed.

However:

• Rental losses: if total deductible expenses (including interest) exceed rental income, the loss can be carried forward against future rental income only (Case V loss) — not against other assessable income
• Tax rate: rental income is taxable at the landlord's marginal income tax rate (up to 40%) plus USC plus PRSI
• Owner-occupied: mortgage interest on a primary residence is not tax deductible — but the 2026 Mortgage Interest Credit (max €625) provides partial relief for borrowers with interest above their 2022 baseline

Per Revenue, Capital Gains Tax (CGT) at 33% applies on the sale of any non-principal residence in Ireland — including all buy-to-let investment property.

Key rules:

• 33% CGT rate: applies to gains on residential investment property sold at any time after purchase
• Annual exemption: first €1,270 of gains tax-free per individual per year
• Calculation: sale price minus cost base (purchase price + acquisition costs + capital improvements + selling costs) = chargeable gain
• Principal Private Residence (PPR) relief: generally exempts the home you actually live in
• No equivalent to NZ's bright-line test — Ireland's CGT applies regardless of how long the property is held
• Payment: CGT must be paid in two instalments — early period (15 December) for January-November disposals, late period (31 January) for December disposals

Per CBI macroprudential policy (current as of 2026):

• Minimum deposit: 30% (LTV ≤ 70%) — banks may originate up to 10% of new BTL commitments above 70% LTV
• LTI cap: not applicable for BTL (LTI applies only to owner-occupier loans)
• Interest deductibility: 100% of mortgage interest deductible against rental income (Revenue)
• Rental losses ring-fenced: can only be carried against future rental income (Case V)
• Capital Gains Tax: 33% on sale of investment property
• Standard rates: BTL variable ~4.70% APR (~0.80% premium over owner-occ)
• IO permitted: some IE lenders offer Interest-Only loans on BTL (rare for owner-occ)
• Stamp duty: standard residential rates apply unless buying 10+ houses (15%)

For BTL investors in Ireland, the choice between variable and fixed often comes down to cash flow predictability vs flexibility:

• Fixed (typically 3–5 years): repayment certainty helps match rent against a known cost; tax-deductible interest is locked in; break costs apply if exited early
• Variable (SVR or Avant Flex): moves with ECB / Euribor; unlimited overpayments; no break costs; rate exposure to ECB rises
• Interest-Only (IO): some IE lenders offer IO on BTL — useful for cash flow but principal does not reduce; significantly higher total interest

Tax treatment is identical regardless of rate type — 100% interest deductibility applies. Per Revenue, ensure mortgage statements clearly identify the interest portion deductible against rental income each year.

How annuity, interest-only, overpayment, and affordability calculations are performed — these are the same formulas used by all Irish lenders.