First time buyer
So you have the deposit, but are you mortgage-ready?
Getting 'approval in principle'
First, you'll need to start your mortgage application! This ...
First Time Buyer Mortgage Calculator
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.
Home buying calculators
To get started, our calculators can give you a rough idea of how much you might be able to borrow and what repayments to expect.
We’ve used our lowest 1 year fixed rate to estimate your repayments. Have a look at our other rate options available.
This calculator is for illustrative and guidance purposes only and is not an offer of a loan. The limits applied can vary 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.
If your receive a bonus, overtime or commission i.e. variable pay, a portion may be considered as part of your application – we’re happy to discuss this with you.
At the end of a fixed rate period, customers on a fixed rate can choose from our range of fixed rate options available to existing customers or roll to the LTV Variable rate applicable at that time.
Terms of up to 35 years are available for First Time Buyers, Movers and Switchers. Fixed rates roll to the corresponding new business Loan to Value variable rate at the end of the fixed period.
The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. Over 18s only. Mortgage approval is subject to assessment of suitability and affordability. You mortgage your property to secure the loan. We require property and life insurance.
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, (70% of the full property value for Buy to Let) but these limits may vary.
A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €629.07 per month at 4.45% variable (Annual Percentage Rate of Charge (APRC) 4.6%). The total amount you pay is €151,301.80. APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority. A 1% interest rate rise would increase monthly repayments by €54.61 per month. [The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home].
Warning: If you do not keep up your repayments you may lose your home.
Warning: The cost of your monthly repayments may increase.
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.
1This calculator is for illustrative and guidance purposes only and is not an offer of a loan. The limits applied can vary 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.
2A portion of any variable pay you earn such as bonus, overtime and commission may also be considered as part of your application – we’re happy to discuss this with you.
33% Cashback available to First Time Buyers, Movers and Switchers who draw down a new mortgage by 31 December 2024. 2% Cashback on draw down of a new mortgage; 1% cashback in 5 years subject to meeting the conditions of the mortgage. Terms and Conditions apply. Additional 1% cashback not available for Buy to Let Investment mortgages. Cashback is not available with the High Value Mortgage fixed interest rate.
Green Mortgage Fixed Interest Rate
A discount of 0.3% off any of our fixed rate interest options between 1 and 10 years when you buy a home with a BER rating of B3 or better.
Draw down your mortgage between 18 July 2019 and 31 December 2024. At the end of the initial fixed rate period customers can choose from the normal interest rate options available to existing customers at that time. Terms and conditions apply.
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
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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