First Time Buyer Mortgage

Your mortgage should be as personal as your home.

  • 2% cashback up front plus 1% back in 5 years’ time for existing current account customers 1
  • Competitive fixed rates
  • Flexible mortgage options
  • Top up your savings by €2,000 (less DIRT) with a MortgageSaver account 2

Apply Now   Talk to Us


Why choose Bank of Ireland?

Cashback plus three percent with love heart donut chart icon

Cashback Plus

Get 2% of your mortgage back as cash up front, plus 1% extra in 5 years for existing current account customers.1

Mortgage rates house with percentage symbol donut chart icon

Rates

Choose from our range of competitive fixed and variable interest options.

Flexi-options house with rotating arrows icon

Flexi-Options

Discover how you can personalise your mortgage to suit your lifestyle with our Flexi-Options.

Green mortgage house with love heart donut chart icon

Green Mortgage Fixed Interest Rate

Get a discount off any of our fixed rate options when you buy or build an energy-efficient property.3

Mortgagesaver house with coins donut chart icon

MortgageSaver

Open a MortgageSaver account and we’ll top up your savings by €2,000 bonus interest (less DIRT).2


Cashback Plus

Buy your first home with Bank of Ireland and get up to 3% of your new mortgage back as cash up front.1 (Also available to Movers and Switchers.)

  • 2% Cashback when you draw down your mortgage.
  • Plus 1% Cashback in 5 years’ time for existing current account customers.
  • Available with our fixed and variable rates.
  • Cashback offers are not available with the High Value Mortgage fixed interest rate.

Apply Now

Personalise Your Mortgage with Our Flexi-Options

When life changes, our flexible mortgage options help you manage:

  • Take a 3-month payment break.4
  • Skip up to 2 payments a year. 5
  • Overpay your mortgage and save interest.6
  • Split your mortgage rate.7
  • Change your payment date. 8

Apply Now

Flexi-options house with rotating arrows icon

Personalise Your Mortgage with Our Flexi-Options

When life changes, our flexible mortgage options help you manage:

  • Take a 3-month payment break.4
  • Skip up to 2 payments a year. 5
  • Overpay your mortgage and save interest.6
  • Split your mortgage rate.7
  • Change your payment date. 8
Apply Now
Green mortgage house with love heart donut chart icon

Green Mortgage Fixed Interest Rate

Buying or building a property with a high level of energy efficiency?

  • Our Green Mortgage fixed interest rate comes with a discount of 0.20%. 3
  • Applies to any of our fixed rate options, between 1 year and 10 years.
  • The property must have a BER (Building Energy Rating) of A3 or better.
  • Draw down your new mortgage between 18th July 2019 and 30th June 2021.

Apply Now

Green Mortgage Fixed Interest Rate

Buying or building a property with a high level of energy efficiency?

  • Our Green Mortgage fixed interest rate comes with a discount of 0.20%. 3
  • Applies to any of our fixed rate options, between 1 year and 10 years.
  • The property must have a BER (Building Energy Rating) of A3 or better.
  • Draw down your new mortgage between 18th July 2019 and 30th June 2021.
Apply Now

Top up with our MortgageSaver account

  • With a MortgageSaver, we’ll top up your savings by €2,000 (less DIRT)2 when you draw down your first time buyer mortgage.
  • Save a minimum of €200 to a maximum of €2,500 a month by Direct Debit.
  • Use the money in your MortgageSaver to help buy your first home
  • Bonus interest of €2,000 (less DIRT) when you have €5,000 or more saved in your MortgageSaver account.

Apply Now

Mortgagesaver house with coins donut chart icon

Top up with our MortgageSaver account

  • With a MortgageSaver, we’ll top up your savings by €2,000 (less DIRT)2 when you draw down your first time buyer mortgage.
  • Save a minimum of €200 to a maximum of €2,500 a month by Direct Debit.
  • Use the money in your MortgageSaver to help buy your first home
  • Bonus interest of €2,000 (less DIRT) when you have €5,000 or more saved in your MortgageSaver account.
Apply Now

First Time Buyer Mortgage Product Features

In general, as a first time home buyer you can borrow a mortgage of up to 3.5 times your gross annual income (combined income for joint applicants)but we do have some flexibility to lend more than this. First time buyers can borrow up to 90% of the property value, for example;

Property Price
€250,000
90% of €250,000
€225,000
Deposit required (10%)
€25,000

These limits can vary so come and talk to us about your plans as early as possible.

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 (to maximum age 70).

Contact Centre

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Pop into a local branch or a mobile manager can come to you.

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We can call you back at a time that suits you best.

Telephone iconCall 1890 365 345
Speak with one of our lending specialists Mon – Fri 8am-8pm, Sat 10am-2pm



Rates

We offer fixed and variable mortgage rates for both new and existing customers. You can even choose both – a twin mortgage interest rate – where you put a percentage of your mortgage on a fixed rate and the rest on a variable rate.

Our fixed rate mortgages are available for periods of 1, 2, 3, 5 and 10 years.9

Last update: 13/08/2019 06:43:31
mortgage type name ltv rule product ltv description fixed or variable interest rate percentage apr
First Time Buyer<=60%1 Year Fixed LTV <=60%fixed2.903.9
First Time Buyer61%-80%1 Year Fixed LTV 61%-80%fixed2.904.2
First Time Buyer>80%1 Year Fixed LTV >80%fixed2.904.4
First Time Buyer<=60%2 Year Fixed LTV <=60%fixed2.903.8
First Time Buyer61%-80%2 Year Fixed LTV 61%-80%fixed2.904
First Time Buyer>80%2 Year Fixed LTV >80%fixed2.904.3
First Time Buyer<=60%3 Year Fixed LTV <=60%fixed3.003.7
First Time Buyer61%-80%3 Year Fixed LTV 61%-80%fixed3.003.9
First Time Buyer>80%3 Year Fixed LTV >80%fixed3.004.1
First Time Buyer<=60%5 Year Fixed LTV <=60%fixed3.003.6
First Time Buyer61%-80%5 Year Fixed LTV 61%-80%fixed3.003.7
First Time Buyer>80%5 Year Fixed LTV >80%fixed3.003.9
First Time Buyer<=60%5 Year Fixed HVM* LTV <=60%fixed2.503.3
First Time Buyer61%-80%5 Year Fixed HVM* LTV 61%-80%fixed2.503.5
First Time Buyer>80%5 Year Fixed HVM* LTV >80%fixed2.503.7
First Time Buyer<=60%10 Year Fixed LTV <=60%fixed3.303.5
First Time Buyer61%-80%10 Year Fixed LTV 61%-80%fixed3.303.6
First Time Buyer>80%10 Year Fixed LTV >80%fixed3.503.8
First Time Buyer<=60%Variable LTV <=60%variable3.904
First Time Buyer61%-80%Variable LTV 61%-80%variable4.204.3
First Time Buyer>80%Variable LTV >80%variable4.504.6
Mover<=60%1 Year Fixed LTV <=60%fixed2.903.9
Mover61%-80%1 Year Fixed LTV 61%-80%fixed2.904.2
Mover>80%1 Year Fixed LTV >80%fixed2.904.4
Mover<=60%2 Year Fixed LTV <=60%fixed2.903.8
Mover61%-80%2 Year Fixed LTV 61%-80%fixed2.904
Mover>80%2 Year Fixed LTV >80%fixed2.904.3
Mover<=60%3 Year Fixed LTV <=60%fixed3.003.7
Mover61%-80%3 Year Fixed LTV 61%-80%fixed3.003.9
Mover>80%3 Year Fixed LTV >80%fixed3.004.1
Mover<=60%5 Year Fixed LTV <=60%fixed3.003.6
Mover61%-80%5 Year Fixed LTV 61%-80%fixed3.003.7
Mover>80%5 Year Fixed LTV >80%fixed3.003.9
Mover<=60%5 Year Fixed HVM* LTV <=60%fixed2.503.3
Mover61%-80%5 Year Fixed HVM* LTV 61%-80%fixed2.503.5
Mover>80%5 Year Fixed HVM* LTV >80%fixed2.503.7
Mover<=60%10 Year Fixed LTV <=60%fixed3.303.5
Mover61%-80%10 Year Fixed LTV 61%-80%fixed3.303.6
Mover>80%10 Year Fixed LTV >80%fixed3.503.8
Mover<=60%Variable LTV <=60%variable3.904
Mover61%-80%Variable LTV 61%-80%variable4.204.3
Mover>80%Variable LTV >80%variable4.504.6
Investor<50%2 Year Fixed LTV <50%fixed4.755.1
Investor50% - 75%2 Year Fixed LTV 50% - 75%fixed4.995.3
Investor<50%5 Year Fixed LTV <50%fixed4.905.2
Investor50% - 75%5 Year Fixed LTV 50% - 75%fixed5.105.4
Investor<50%Variable LTV <50%variable4.604.9
Investor50% - 75%Variable LTV 50% - 75%variable4.805.1
InvestorRoll to Variable LTVroll to variable4.804.9
Switcher<=60%1 Year Fixed LTV <=60%fixed2.903.9
Switcher61%-80%1 Year Fixed LTV 61%-80%fixed2.904.2
Switcher>80%1 Year Fixed LTV >80%fixed2.904.4
Switcher<=60%2 Year Fixed LTV <=60%fixed2.903.8
Switcher61%-80%2 Year Fixed LTV 61%-80%fixed2.904
Switcher>80%2 Year Fixed LTV >80%fixed2.904.3
Switcher<=60%3 Year Fixed LTV <=60%fixed3.003.7
Switcher61%-80%3 Year Fixed LTV 61%-80%fixed3.003.9
Switcher>80%3 Year Fixed LTV >80%fixed3.004.1
Switcher<=60%5 Year Fixed LTV <=60%fixed3.003.6
Switcher61%-80%5 Year Fixed LTV 61%-80%fixed3.003.7
Switcher>80%5 Year Fixed LTV >80%fixed3.003.9
Switcher<=60%5 Year Fixed HVM* LTV <=60%fixed2.503.3
Switcher61%-80%5 Year Fixed HVM* LTV 61%-80%fixed2.503.5
Switcher>80%5 Year Fixed HVM* LTV >80%fixed2.503.7
Switcher<=60%10 Year Fixed LTV <=60%fixed3.303.5
Switcher61%-80%10 Year Fixed LTV 61%-80%fixed3.303.6
Switcher>80%10 Year Fixed LTV >80%fixed3.503.8
Switcher<=60%Variable LTV <=60%variable3.904
Switcher61%-80%Variable LTV 61%-80%variable4.204.3
Switcher>80%Variable LTV >80%variable4.504.6
Existing<=60%1 Year Fixed LTV <=60%fixed2.903.9
Existing61%-80%1 Year Fixed LTV 61%-80%fixed2.904.2
Existing>80%1 Year Fixed LTV >80%fixed2.904.4
Existing<=60%2 Year Fixed LTV <=60%fixed2.903.8
Existing61%-80%2 Year Fixed LTV 61%-80%fixed2.904
Existing>80%2 Year Fixed LTV >80%fixed2.904.3
Existing<=60%3 Year Fixed LTV <=60%fixed3.003.7
Existing61%-80%3 Year Fixed LTV 61%-80%fixed3.003.9
Existing>80%3 Year Fixed LTV >80%fixed3.004.1
Existing<=60%5 Year Fixed LTV <=60%fixed3.003.6
Existing61%-80%5 Year Fixed LTV 61%-80%fixed3.003.7
Existing>80%5 Year Fixed LTV >80%fixed3.003.9
Existing<=60%5 Year Fixed HVM* LTV <=60%fixed2.503.3
Existing61%-80%5 Year Fixed HVM* LTV 61%-80%fixed2.503.5
Existing>80%5 Year Fixed HVM* LTV >80%fixed2.503.7
Existing<=60%10 Year Fixed LTV <=60%fixed3.303.5
Existing61%-80%10 Year Fixed LTV 61%-80%fixed3.303.6
Existing>80%10 Year Fixed LTV >80%fixed3.503.8
Existing<=60%Variable LTV <=60%variable3.904
Existing61%-80%Variable LTV 61%-80%variable4.204.3
Existing>80%Variable LTV >80%variable4.504.6

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LTV = Loan to Value. APRC = Annual Percentage rate of Charge. BTL = Buy To Let
*HVM=High Value Mortgage Fixed Interest Rate

The High Value Mortgage fixed interest rate is a five-year fixed interest rate with No Cashback

Terms and Conditions


  • Mortgage Flexi-Options Terms and Conditions

    At Bank of Ireland, we’re with you through your mortgage journey, with solutions designed to suit you – from the time you start saving for your deposit, when you’re ready to buy, and throughout the life of your mortgage.
    So whether you’ve recently taken out your mortgage or you have it for a while, we want to help you make the most of your mortgage. Have a look at how you can flex your mortgage to suit your lifestyle with our Flexi-options.

    3 Month Payment Break

    You can take a 3-month payment break up to three times over the life of your mortgage – really useful if you run into extra expenses in a year such as the birth of a child or education fees.

    To be eligible for a payment break:

    • Your mortgage loan must be drawn down at least 2 years (if drawn in instalments, it must be at least 2 years since the final drawdown),
    • There must be at least 12 months between payment breaks, and
    • You must have complied with all the terms and conditions of the mortgage.

    Applications are subject to approval. Available on your Principle Private Dwelling only. Only available on annuity (standard capital and interest) repayment mortgages. Lending criteria and terms and conditions apply.

    At the end of the Payment Break period your repayments will be adjusted so that your mortgage will be repaid within its original term. I.e. your ‘Break’ repayments will be spread over your remaining mortgage, which means your new repayments will be higher than they were before the Payment Break.

    When you apply, we will send you a ‘Mortgage Form of Authorisation’ with full Payment Break terms and conditions for you to sign and return to us.

    Skip up to 2 payments in a year

    If you would like to have a little extra to spend at certain times of the year – such as Christmas or holiday time – you can spread your mortgage repayments in a year over 10 or 11 months and skip the other one or two.

    For example, if you would like to skip your repayment in December to have some extra cash at Christmas time, we can arrange for your repayments to be higher for the rest of the year so that you will make your full 12 months’ repayments over 11 months.

    Subject to meeting the conditions of your mortgage. Lending criteria and terms and conditions apply.

    Once you select a skip month repayment option it will continue each year unless you ask us to change it.

    Overpay your mortgage and save interest

    You can make Overpayments, either regularly or as lump sums, when you find yourself with extra cash. This will reduce your capital balance and you pay less interest. It may even reduce your term.

    • You can make regular or lump sum overpayments of any amount to a variable rate mortgage.
    • If you are on a fixed rate you can overpay up to 10% of your normal monthly repayment (or €65, whichever is greater), without incurring a fee.

    Even a small overpayment can make a difference to your mortgage.

    (You can cancel regular overpayments at any time. Overpayments made are not refundable)

    Check out our Overpay Calculator to see how much you could save.

    Split your mortgage rate

    • With our Twin rate mortgage you can benefit from the certainty and stability of a fixed rate AND the flexibility of variable;
    • Put a portion of your mortgage on a variable rate and the remainder on a fixed rate. You decide the split;
    • Find out more about your rate options here.

    Lending criteria and terms and conditions apply.

    Bring your fixed rate with you

    • Moving home? You can bring your Bank of Ireland fixed rate with you to your new mortgage without penalty as long as your new mortgage is drawn down within 6 months of redeeming your old mortgage;
    • Find full details about our Movers mortgage here.

    Change your payment date

    You can change the repayment date to another one in the month that suits you better such as right after payday.

    Applies to monthly repayments only. Subject to meeting the conditions of your mortgage. You can move your repayment date by up to 21 days.

    Your repayments will be recalculated so that your mortgage will be repaid by the originally agreed date.


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


  • MortgageSaver Account Terms and Conditions

    Terms and Conditions

    There are Terms & Conditions that apply to the Mortgagesaver Savings Account. Please see below for more information.


  • 3% Cashback Terms and Conditions

    The Bank of Ireland Cashback PLUS Mortgage Offer

    • The Cashback PLUS Mortgage offer is available to you if:

      1. You (or one of you) is already an existing Bank of Ireland current account customer AND
      2. You use your mortgage loan to buy a home in the Republic of Ireland to live in yourself (as a First Time Buyer or Mover) or if you switch your mortgage loan to us from another lender (outside the Bank of Ireland Group) by re-mortgaging the house you live in AND
      3. You draw down your new mortgage loan between 5th September 2016 and 31st December 2020.
    • The Cashback PLUS Mortgage Offer is available whether you chose a fixed or variable rate for your mortgage.

    • Cashback is not available with the High Value Mortgage fixed interest rate.

    • 2% cashback payment will be 2% of the amount you borrow under your mortgage loan offer letter. The payment will be made into your mortgage-paying current account within 45 days of drawdown of your mortgage.

    • The 1% cashback payment at the end of year 5 is 1% of the mortgage loan amount you originally drew down. The 1% cashback payment will be made into your mortgage paying current account within 45 days of the 5th anniversary of your mortgage drawdown.

    • To qualify for the payment of 1% in year 5:

      1. Your mortgage must have been drawn down within the Cashback PLUS Mortgage offer period;
      2. The Loan originally drawn down less scheduled repayments must still be owing on the fifth anniversary of the draw down date;
      3. You must have made all of your mortgage payments in full and on time;
      4. You must have met all of your other obligations under your mortgage loan documents in full;
      5. You must still live in the home you mortgaged to secure the loan on the 5th anniversary; and
      6. We must not have agreed or arranged to allow you make any reduced mortgage repayments or stop making repayments for any time. If you qualify to take a three month payment holiday and avail of it, it does not affect your entitlement to the 1% cashback payment at year 5.
    • If you draw down your mortgage in stages (e.g. for a self-build):

      1. The first drawdown must be made between 5th September 2016 and 31st December 2020 to qualify for the offer.
      2. In addition, final drawdown must be made within 18 months of first drawdown
      3. The 2% Cashback will be paid within 45 days of the final stage drawdown and will be 2% of the amount you borrow under your initial mortgage loan offer letter.
      4. Any additional lending is excluded from the calculation, e.g. a top-up mortgage loan.
      5. The 1% cashback payment at year 5 is 1% of the amount you borrow under your initial mortgage loan offer letter. The 1% cashback payment will be made into your mortgage paying account within 45 days of the 5th anniversary of the final stage drawdown.
      6. Cashback is not available with the High Value Mortgage fixed interest rate.
    • The Cashback PLUS Mortgage Offer is for our existing current account customers and is intended to reward their loyalty. We do not require you to use your Bank of Ireland current account to make your mortgage payments, or pay your salary into that account.

    • The Cashback PLUS Mortgage offer is not available (a) for top-up mortgages; b) for any mortgage to buy a property to let or for investment; or (c) for any mortgage where you do not borrow as a consumer. The Cashback Plus mortgage offer is only available on mortgages from Bank of Ireland Mortgage Bank.

    • Cashback is not available with the High Value Mortgage fixed interest rate.

    • We reserve the right to withdraw the Cashback PLUS Mortgage Offer at any time at our discretion, for example, to reflect any changes in law or regulation or how they are interpreted. If we do withdraw the offer before 31st December 2020, we will notify the public of this by putting an advertisement on our website and in at least one national newspaper.


Information and Legal notices ›

The lender is Bank of Ireland Mortgages. Lending criteria and terms and conditions apply. We require property and life insurance. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income and 80% of the property value (90% of the property value for first-time buyers). A typical mortgage to buy your home of €100,000 over 20 years with 240 monthly instalments costs €615.79 per month at 4.2% 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 €148,114.60. A 1% interest rate rise would increase monthly repayments by €54.02 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.

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 in the future.

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

MortgageSaver provided by Bank of Ireland. Bank of Ireland is regulated by the Central Bank of Ireland.

1 3% Cashback available to First Time Buyers, Movers and Switchers who draw down a new mortgage by 30 June 2020 and hold a Bank of Ireland current account. 2% Cashback on draw down of a new mortgage. 1% Cashback in 5 years subject to meeting the conditions of the mortgage. Additional 1% Cashback not available for Buy to Let Investment mortgages. Cashback is not available with the High Value Mortgage fixed interest rate. Terms and conditions apply.
2 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. Bonus Interest subject to DIRT at the prevailing rate, paid after drawdown. Details at bankofireland.com/mortgagesaver Terms and conditions apply.
3 Get a discount of 0.20% off any of our fixed rate interest options between 1 and 10 years when you buy a home or investment property with a BER rating of A3 or better, or build or renovate your property to achieve an A3 BER rating. The Green Mortgage fixed interest rate is available on qualifying mortgages with (first) drawdown between 18 July 2019 and 30 June 2021. 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. The Green Mortgage fixed interest rate is not available to Switchers.
4 To be eligible for a payment break your mortgage loan must be drawn down at least 2 years (if drawn in instalments, it must be at least 2 years since the final drawdown), there must be at least 12 months between payment breaks, and you must have complied with all the terms and conditions of the mortgage. At the end of the Payment Break period your repayments will be adjusted so that your mortgage will be repaid within its original term. More information.
5 Subject to meeting the conditions of your mortgage. Lending criteria and terms and conditions apply. Once you select a skip month repayment option it will continue each year unless you ask us to change it. More information.
6 You can make regular or lump sum overpayments of any amount to a variable rate mortgage. If you are on a fixed rate you can overpay up to 10% of your normal monthly repayment (or €65, whichever is greater), without cost. (You can cancel regular overpayments at any time. Overpayments made are not refundable.).
7 Split your mortgage rate with our Twin Rate Mortgage you can benefit from the certainty and stability of a fixed rate AND the flexibility of variable; Put a portion of your mortgage on a variable rate and the remainder on a fixed rate. Lending criteria and terms and conditions apply.
8 Change the repayment date to another one in the month that suits you better such as right after payday. Applies to monthly repayments only. Subject to meeting the conditions of your mortgage. You can move your repayment date by up to 21 days. Your repayments will be recalculated so that your mortgage will be repaid by the originally agreed date.
9 Rates are effective from 18th July 2019 and are subject to change. These rates are provided for information only. At the end of a fixed rate period, customers on a fixed rate can choose from our range of fixed rate options or roll to the LTV Variable rate applicable at that time. To avail of a lower LTV fixed rate a property valuation report may be required. APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years. APRC includes €150 valuation fee and mortgage charge of €175 paid to the Property Registration Authority.