€2,000 Bonus on your Savings for First Time Buyers

€2,000 Bonus on your Savings for First Time Buyers

Do you need to save regularly to build up a deposit for your first home?

Open a MortgageSaver account and we’ll top up your savings by €2,000.

At Bank of Ireland we understand the challenges facing First Time Buyers in saving to buy a home. We want to help, with a top-up of €2,000 on your savings when you draw down your Bank of Ireland mortgage.

How the First Time Buyer MortgageSaver Bonus works:

  • You must be a First Time Buyer and have a personal current account in the Republic of Ireland. To qualify for a First Time Buyer Mortgage1, both applicants must be First Time Buyers
  • Save a minimum of €200, maximum of €2,500 per month for at least 6 consecutive months in a MortgageSaver Account. You must save a minimum of €5,000 in total
  • Draw down a Bank of Ireland First Time Buyer mortgage within 30 months of opening your MortgageSaver account
  • Use the money saved in your MortgageSaver account to help purchase your first home
  • The bonus will be a fixed payment of €2,000, once you have €5,000 or more saved in your MortgageSaver account

A bonus will only be paid on one MortgageSaver account on drawdown of the Mortgage.

MortgageSaver account features:

  • Save monthly by Direct Debit – Minimum €200, Maximum €2,500 per month
  • You can make multiple lump sum lodgements up to a total value of €20,000
  • Instant access to your money in any Bank of Ireland branch or (if you are registered) through 365 online
Apply Online More information

The Bonus is subject to DIRT at the prevailing rate and is paid after your mortgage is drawn down.

You can only open a MortgageSaver account if you are a resident in the Republic of Ireland.

You must have a personal current account in the Republic of Ireland.

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

Lending criteria terms and conditions apply to the mortgage. Mortgage provided by Bank of Ireland Mortgage Bank.

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

1 “First Time Buyer Mortgage” means a mortgage where no party to the mortgage is currently or has previously been a borrower under a Housing Loan, either in Ireland or abroad, where a Housing Loan is defined as a loan secured on residential property where the borrower and /or their dependants intend to live”.