First Time Buyer Mortgage

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:

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

• €2,000 MortgageSaver Bonus Interest for First Time Buyers

  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 bankofireland.com/mortgagesaver. Terms and conditions apply.

• Cashback PLUS

  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 2025. 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.

• Competitive rates & fixed terms

  We have a range of competitive fixed and variable interest options. 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.)

• Mortgage Flexi-Options

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

• Easy access to mortgage expertise

  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.

• Apply over the phone

  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

• Easy-to-start mortgage application

  You can start your mortgage application online in minutes.

• “House-Hunter” mortgage approval

  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.

• EcoSaver Mortgage Fixed interest rate

  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.