First-time buyer

Buying your first home? We’re here to make it easier.


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Why choose us for a mortgage?

2025 ‘Best mortgage for first-time buyers’ winner

We’ve won the Bonkers.ie award for best first-time buyer mortgage two years in a row.

House-hunter?

If you haven’t found your first home yet, our approval in principle (AIP) lasts for up to twelve months.

Cashback offer

With Cashback Plus, you can get up to 3% of your mortgage drawdown back in cash (2% after you draw down and 1% after 5 years) on qualifying fixed rates. Terms and conditions apply.1

Competitive rates

Our competitive interest options include variable rates and fixed rates up to 10 years. Use our calculator or view our rates table to help decide your rate.

Better BER, better fixed rate

Enjoy an EcoSaver fixed interest rate linked to your Building Energy Rating (BER). The better your BER, the better your fixed interest rate. Terms and conditions apply.2

Flexible repayments

Control your mortgage repayments to suit your lifestyle with our mortgage flexi-options. Terms and conditions apply.

MortgageSaver account

First-time buyers can get €2,000 bonus interest (less DIRT) on your savings when you draw down your Bank of Ireland mortgage. Terms and conditions apply.3

Deferred start option

First-time buyers can choose to defer their first three monthly repayments (if approved). Repayments will be higher afterwards so the loan is repaid within the original term. You’ll need a life insurance policy for 102% of the loan. Terms and conditions apply.4


Plan your budget with our mortgage calculator

Get an idea of how much you can afford to borrow and plan your budget with our mortgage calculator.

Try our mortgage calculator


Our mortgage guide for first-time buyers


  • Step 1: Find out how much you can borrow
    Use our mortgage calculator to estimate how much you can borrow based on your income, expenses, and saved deposit. This will help you understand your price range and prepare for regular repayments.

  • Step 2: Talk to our mortgage specialists
    They can help you understand your mortgage options. Visit your local branch, call us on 0818 365 345 (9am to 5pm, Monday to Friday), or request a callback.

  • Step 3: Save for your mortgage deposit
    As a first-time buyer, you can generally borrow up to 4 times your gross annual income (or combined income for joint applicants) and up to 90% of the property’s value. This means you’ll need to save up to 10% of the purchase price as a deposit.

    Remember: There are other costs to keep in mind like stamp duty, legal fees, home insurance, and mortgage protection – so you’ll need to save for those costs too. Our MortgageSaver account is designed to help you save your deposit and gives you €2,000 bonus interest (less DIRT) when you draw down your Bank of Ireland mortgage.

  • Step 4: Start your application
    When you’ve saved your deposit, it’s time to fill in your mortgage application online, in a branch, or over the phone. You do not need to have a property in mind at this stage.

  • Step 5: Provide requested documents
    Alongside your mortgage application, you’ll need documents like:

    – Proof of identification and address – your current passport or driver’s licence and a recent utility bill
    – Proof of income – your last two payslips and a salary certificate if you’re a PAYE employee or your most recent 2 years’ audited accounts if you’re self-employed
    – Records of your finances – your last 6 months’ current account statements and 6 months’ savings account statements demonstrating regular saving (if your accounts are not with Bank of Ireland)
    – Gift letter – if you’re getting financial help from a parent or family member to buy your first home, you’ll need to fill in a standard form (provided by us) that states the gift does not need to be repaid
    – Additional documents (if relevant) – things like Help to Buy (HTB) Scheme approval, separation/divorce agreement, evidence of inheritance, and statements for recently closed loans

  • Step 6: Get approval in principle (AIP)
    If your application is successful, we’ll send you a formal ‘Approval in principle’ letter. Getting AIP shows sellers you’re a serious buyer and provides clarity on your budget.

    Remember: AIP is not a loan offer, so you cannot rely on it to enter into a contract to purchase a property. AIP for house-hunters generally lasts for up to 12 months. If it expires, you’ll need to apply for AIP again.

  • Step 7: Find a home and complete your application
    When you find a suitable property, make an offer. If your offer is accepted, contact us to finalise your mortgage application. At that stage, we’ll send you a formal ‘Mortgage Loan Offer’ to buy your new property. It will include details of any final requirements you may need to meet before you can draw down the money to buy your new home.

    Remember: You’ll need to have the property valued by a professional valuer that we approve of. We will send you a list of valuers at this stage. We also recommend that you get a property survey carried out for your own peace of mind as this can identify potential issues that you might not otherwise see. In some cases, we may insist that you get one, particularly if the house you’re buying is older.

  • Step 8: Appoint a solicitor
    If you do not already have a solicitor, now is the time to appoint one to help ensure everything is done legally and correctly during the mortgage process. Your solicitor will review contracts, manage the exchange of contracts to make the purchase legally binding, work with us to draw down funds, calculate and pay stamp duty, and register you as the new owner.

  • Step 9: Take out home insurance and mortgage protection
    Before you can draw down the funds to buy your new home, you must take out a home insurance policy and a mortgage protection policy. We will check both are in place before finalising the process.

    Remember: You can choose a home insurance policy and mortgage protection policy from any provider.

  • Step 10: Draw down your funds and get your keys
    If all the requirements are met, your solicitor will complete the purchase with the seller’s solicitor and arrange to transfer the property title to you. Now it’s time to pat yourself on the back and celebrate!



Back to back wins!

Our first-time buyer mortgage has won the Bonkers.ie ‘Best mortgage for first-time buyers’ award two years in a row.

Start application now


What makes us different?

Manage your mortgage

We have two dedicated mortgage portals; one designed to help you view your mortgage details and the other to allow you make changes to your existing mortgage.

Manage my mortgage

Choose how you apply

You can talk to us about your mortgage journey online, in-branch, or over the phone.

Start application now

Watch, listen, learn

We have lots of useful videos and podcasts to help you better understand the mortgage process.

See our mortgage content

How much can you borrow?

First-time buyers can generally borrow up to 4 times your gross annual income (or combined income for joint applicants) and up to 90% of the property’s value. These limits can vary based on individual circumstances, so it’s best to talk to us about your options.

Property price€250,000
Mortgage amount 90% of €250,000€225,000
Deposit required 10% of €250,000€25,000


The lender is Bank of Ireland Mortgage Bank u.c. 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 Tailte Éireann. 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. The mortgage will be subject to assessment of suitability and affordability. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.

Mortgage-related products

Mortgage protection

Helps towards repaying your mortgage if you pass away or are diagnosed with a covered serious illness (if you choose this benefit). Giving peace of mind to you and your family.

Home insurance

Safeguard your home and personal belongings from fire, flood, or theft with comprehensive insurance. Home insurance gives you peace of mind that your property and belongings are fully protected.

MortgageSaver account

Helps first-time buyers save for a deposit and gives you €2,000 bonus interest (less DIRT) on your savings when you draw down your new mortgage with us.3

Frequently asked questions


  • What is a first-time buyer?
    A first-time buyer is someone who has never before (either on their own or with others) had a mortgage in Ireland or abroad. It also includes someone releasing equity from a family home they inherited or bought outright (whether with cash or a gift) and have never had a mortgage on it before, or who has a first-time buyer mortgage and now wants to release equity.

     

    You may also qualify as a first-time borrower if you meet the Central Bank of Ireland’s criteria as a “fresh start” borrower. You will find more information on this in the FAQ entitled “What is a fresh start borrower?”

    Please note: If you’re making a joint application for a first-time buyer mortgage, both applicants must be first-time buyers.

  • Will the bank take my rental payment into account when considering my affordability?
    Yes. Any monthly rental payments you have made demonstrate your ability to support monthly mortgage repayments.

    Tip: Arrange to pay your rent through your bank account even if you’re living at home and making a contribution to the household. This is the best way to demonstrate regular rent payments over a period.

  • What other costs can I expect when buying a property?
    We have a list of the key expenses you need to budget for as a first-time buyer.

  • How long does approval in principle (AIP) last?
    Our approval in principle lasts for up to twelve months. This means you don’t need to have a property in mind when applying for a mortgage. You can take your time to find the right house for you. Once you find a property, approval is valid for six months.

  • How long does a mortgage offer stay valid for?
    Our mortgage offers last for six months. This can generally be extended without difficulty if your circumstances haven’t changed.

  • What insurance do I need when buying a home?
    You will need to arrange the appropriate mortgage protection and home insurance policies to protect both you and the property. These must be in place before you can draw down your mortgage.

    To find out more, or to organise cover, speak to a mortgage specialist or arrange your home and life insurance with another provider.

  • What does loan-to-value (LTV) mean?
    This is the amount that you can borrow compared with the value of the property you are buying. For example, if a house is valued at €300,000 and you borrow €240,000, your LTV is 80%.

  • When applying for a mortgage, will I be scrutinised for every penny I spend?
    We’ll review your statements, but you won’t be punished for the odd splurge. What’s important is that you’re able to bounce back from large instances of spending and tighten the purse strings to show a consistent pattern of saving.

  • I pay child maintenance voluntarily. Should I include these payments in my 'outgoings' when applying for a mortgage?
    Yes. You should include all outgoing payments that you make, including child support and any other binding/voluntary payments when calculating your monthly outgoings.

  • Will gambling transactions make me ineligible for a mortgage?
    The odd flutter on the 3.15 at Punchestown won’t affect your eligibility, but an account showing a consistent gambling history could raise a red flag so we’ll discuss this with you.

  • Am I a first-time buyer if I've inherited/been gifted a property?
    Yes. You did not personally take out a mortgage on this property previously so you are considered a first-time buyer.

    Please note: If any other joint applicants are not a first-time buyer then none of the applicants can be considered a first-time buyer (in line with Central Bank regulations).

  • What is a fresh start borrower?
    A fresh start borrower is someone who once had a mortgage as a first-time buyer but no longer owns the property or is responsible for the loan. This usually happens after a separation, divorce, or relationship breakdown.

  • Can I use a gift as part of my deposit?
    Yes. A non-refundable gift can be used as part of your deposit. You’ll need to fill in a standard form (provided by us) that states the gift does not need to be repaid.



Being mindful about borrowing

Your financial wellbeing is our priority. Discover more about the relationship between borrowing and debt to make informed decisions about your mortgage and future.

Learn more about borrowing and debt


Need a helping hand?

Get support and assistance from our mortgage specialists, 9am to 5pm, Monday to Friday. Choose your preferred way to talk to us.

You can call us

Call 0818 365 345

We can call you

Request a callback

Meet a specialist

Book an appointment
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.

Warning: The cost of your monthly repayments may increase.

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


Information and legal notices

Legal and regulatory information for mortgages.

View information and legal notices


1 Up to 3% cashback is available to first-time buyers, movers and switchers who draw down a new mortgage. 2% cashback on draw down of a new mortgage. 1% bonus in 5 years subject to meeting the conditions of the mortgage. Additional 1% bonus not available for buy-to-let investment or equity release mortgages. Cashback is not available on High Value Mortgage fixed interest rates or standard variable rate. Terms and conditions apply.

HVM is the High Value Mortgage Fixed Interest Rate:
The High Value Mortgage Interest rates are a one, four, five or seven year fixed interest rate with no Cashback. The High Value Mortgage fixed interest rate is available to you if you are buying or building a property to live in as your home or are switching your mortgage loan to the Bank of Ireland Group from another mortgage lender outside our Group, AND you are borrowing €250,000 or more. View High Value Mortgage fixed interest rate for full details and terms and conditions.
2 The EcoSaver fixed interest rate provides customers with discounts based on their Building Energy Rating (BER). The better the BER, the better the discount. The EcoSaver fixed rate is available to all customers, if you're new to Bank of Ireland or already have a mortgage with us. You can get the EcoSaver fixed interest rate if you are borrowing to buy a home for yourself or your family, an investment property to let, or you're switching your mortgage loan to us from another lender. You must supply a valid BER certificate to take advantage of the EcoSaver fixed rate. Available with fixed rates only. Terms and conditions apply.
3 Available for first-time buyers only who draw down a Bank of Ireland mortgage within 30 months of opening a MortgageSaver account. You must save a minimum of €200 for at least six consecutive months and save a minimum of €5,000 in total into your MortgageSaver account before drawing down your mortgage. MortgageSaver provided by Bank of Ireland. Bank of Ireland is regulated by the Central Bank of Ireland. Bonus interest is subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate, paid after drawdown. Details at bankofireland.com/mortgagesaver. Terms and conditions apply.
4 Three months’ deferred payment is optional and is available to first-time buyers, movers, switchers and equity release customers 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. Terms and conditions apply.