First Time Buyer Mortgage

When buying your first home, we know you’ll need some help along the way.

That’s why we’ve designed our mortgage service around you.

Begin your Mortgage Journey Now


EcoSaver Mortgage
EcoSaver Mortgage

Whatever you need, we have the mortgage for you

Buying your first home can be daunting and it can be hard to know where to start. But buying your home doesn’t need to be stressful.

How do I know what I can borrow?

In general, a mortgage of up to 4 times your gross annual income (combined income for joint applicants) is available to first-time buyers. We may be able to lend you more than this so it’s important to talk to us as early as possible about your plans. The amount you can borrow will depend on your individual circumstances and is subject to lending criteria, terms and conditions. First-time buyers can borrow up to 90% of the property value. In the table below, we have an example of this:

First time buyer mortgage example
Property Price€250,000
Mortgage amount (90% of €250,000)€225,000
Deposit required (10% of €250,000)€25,000

If you’re buying with someone else you must both be first time buyers for the mortgage to be considered a first-time buyer mortgage. Terms of up to 35 years are available to first-time buyers.

Deferred Start Option

You can choose not to make mortgage repayments for the first 3 months, to give you some breathing space when you move into your new home. 3 months’ deferred payment is optional and subject to approval. After the deferred payment period, repayments are adjusted to repay the loan within its original term. The cost of the loan will be higher. A life policy is required for an amount equal to 102% of the loan.

9 Great reasons to choose Bank of Ireland for your mortgage

  • At Bank of Ireland we understand the challenges facing First Time Buyers in saving to buy a home. We want to help, with a €2,000 Bonus Interest (less DIRT) on your savings when you draw down your Bank of Ireland mortgage. Ask us about our First Time Buyer MortgageSaver Bonus.

    Available for first time buyers only who draw down a mortgage with us within 30 months of MortgageSaver account opening. MortgageSaver provided by Bank of Ireland. Bank of Ireland is regulated by the Central Bank of Ireland. Bonus Interest subject to DIRT at the prevailing rate, paid after drawdown. Details at Terms and conditions apply.

  • We’ll give you 2% Cashback when you drawdown your new mortgage with us. Customers buying a home (First Time Buyer or Mover) or switching your mortgage to us, you can also qualify for Cashback PLUS – we’ll give you an extra 1% of your mortgage back as cash after 5 years.

    Extra 1% cashback subject to meeting the conditions of the mortgage. Available to customers who drawdown a new mortgage by 31 December 2024. Terms and conditions apply.

    Cashback is not available with the High Value Mortgage fixed interest rate or our standard variable interest rate.

    Find out about our Cashback PLUS offer.

  • We have a range of competitive fixed and variable interest options that includes fixed rates from 1 year to 10 years. We will be happy to talk you through them.

    View our first time buyer rates.

    We also have a EcoSaver Mortgage Fixed interest rate and a High Value Mortgage fixed interest rate – click for more information.
    (Terms and conditions apply. Cashback is not available with the High Value Mortgage fixed interest rate or our standard variable interest rate.)

  • Have a look at how you can flex your mortgage to suit your lifestyle with our Flexi-Options.

  • We have an extensive nationwide branch network where you can talk to qualified mortgage specialists, and we can meet you when and where it suits you best – at home or at work, even at the weekend

    Find your local branch.

  • We can go through your application from end to end with you over the phone. Call us on 0818 365 345 – we’re available at the following times:

    Mortgage phone times
    Weekdays (excluding bank holidays)9am – 5pm
  • You can start your mortgage application online in minutes.

  • This is an approval for a mortgage amount even before you’ve chosen a suitable property. This means you can search for a suitable property with confidence knowing your finance is in place.

  • The EcoSaver Mortgage fixed interest rate provides customers with discounts based on their Building Energy Rating (BER), the better the BER rating, the better the discount. The EcoSaver Mortgage is available to all customers, if you are new to Bank of Ireland or already have a mortgage with us. You can get The EcoSaver Mortgage fixed interest rate if you are borrowing to buy a home for yourself or your family or an investment property to let or you switching your mortgage loan to us from another lender. You must supply a BER (Building Energy Rating) certificate to avail of the EcoSaver mortgage. Available with fixed rates only.

Ready to move ahead?

Book an appointmentApply online

You can also request a callback or give us a call on 0818 365 345.

Our phone lines are open at the following times:

Monday – Friday: 9am – 5pm

Get all the information on Buying, Looking and Saving for your First Home.

Read our articles, exclusively for First Time Buyers.

Are you buying or building a property with a high level of energy efficiency?

Now you can apply for Bank of Ireland’s EcoSaver Mortgage.

Your step by step guide to buying your first home.

Wondering how to get started with a Mortgage? All the information you need is in our First Time Buyers Guide.

Download now

The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €613.16 per month at 4.15% variable (Annual Percentage Rate of Charge (APRC) 4.3%). APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. The total amount you pay is €147,482.50. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4 times gross annual income for first time buyers) and 90% of the property value. A 1% interest rate rise would increase monthly repayments by €53.89 per month. The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home. Available to over 18s only. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.

Warning: The cost of your monthly repayments may increase.
Warning: If you do not keep up your repayments you may lose your home.
Warning: You may have to pay charges if you pay off a fixed–rate loan early.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire- purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.

Ready to move forward with your application?

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You can also request a callback or call us on 0818 365 345. Our phone lines are open Monday to Friday from 9am – 5pm.

Bank of Ireland Mortgage Bank u.c. trading as Bank of Ireland Mortgages is regulated by the Central Bank of Ireland