Mortgage Calculator Ireland 2026
Calculate your monthly mortgage repayments in Ireland. Enter the property price, deposit, interest rate, and loan term to see your monthly payment, total interest, and a full amortization schedule. Includes Central Bank of Ireland lending rules for LTV limits.
Central Bank of Ireland Mortgage Rules
The Central Bank of Ireland sets macroprudential rules that limit how much you can borrow for a mortgage. The loan-to-value (LTV) limit for first-time buyers is 90%, meaning you need a minimum 10% deposit. For second and subsequent buyers, the LTV limit is 80%, requiring a 20% deposit. The loan-to-income (LTI) limit is 3.5 times gross annual income for all borrowers. Lenders can grant exceptions to these rules for a limited proportion of their lending — up to 15% of the value of new first-time buyer mortgages and 15% of second and subsequent buyer mortgages. These rules were introduced in 2015 and have been adjusted over time to balance housing affordability with financial stability. Before applying for a mortgage, check that your deposit and income meet these thresholds.
Understanding Mortgage Interest Rates in Ireland
Irish mortgage interest rates can be fixed or variable. A fixed rate locks in your repayment amount for a set period, typically 1 to 10 years, giving you certainty about your monthly outgoings. Variable rates can change with market conditions, which means your repayments could go up or down. Green mortgages offer discounted rates for energy-efficient properties, typically 0.1% to 0.3% lower than standard rates. The European Central Bank (ECB) base rate influences Irish mortgage rates, as most Irish lenders are eurozone banks. When comparing offers, look at the Annual Percentage Rate of Charge (APRC), which includes all fees and charges, not just the headline interest rate. Switching your mortgage to a lower rate with another lender can save significant amounts over the life of the loan.
Mortgage Tax Relief and Supports
The Help to Buy scheme provides a tax rebate for first-time buyers purchasing or self-building a new property. The rebate is the lesser of 10% of the purchase price, 30,000 euro, or the total income tax and DIRT paid in the previous four years. The property must be valued at 500,000 euro or less. The Local Authority Affordable Purchase Scheme and the First Home Scheme can help bridge the gap between the mortgage and deposit amount and the market price. Mortgage interest is not tax-deductible for owner-occupiers in Ireland, unlike in some other countries. However, landlords can claim 100% of mortgage interest as an allowable expense against rental income.
Tips for Getting the Best Mortgage Deal
Start by getting mortgage approval in principle before house hunting so you know your budget. Compare rates across all lenders, including credit unions and non-bank lenders, as rates can vary significantly. Consider overpaying your mortgage when possible — even small additional payments can save thousands in interest over the life of the loan and shorten the term. Check if your lender charges early repayment fees or overpayment limits. Review your mortgage annually and consider switching if better rates are available elsewhere. The Competition and Consumer Protection Commission (CCPC) provides a mortgage comparison tool to help you find the best deal. Factor in all costs including stamp duty, solicitor fees, surveyor fees, and mortgage protection insurance when budgeting for your purchase.