Guide to Mortgages in the Republic of Ireland

Buying property in the Republic of Ireland

If you want a mortgage in the Republic of Ireland please fill in this form

Guide to Mortgages in the Republic of Ireland

How much can I borrow?

Though Irish residents can borrow up to 90% if they are first time buyers or 80% if not buying for the first time, overseas buyers are restricted under legislation to borrowing no more than 70% of the purchase price. In practice we see 65% as the typical max for nn-residents but it varies.

What are the Rates?

This will vary depending on where and what you buy as well as your own circumstances but typically are in the 3.1-3.75% range

Are there any income requirements?

Your income will be a key element of the application. Irish banks will need to see that it is consistent and sustainable and if it's in a currency other than Euros, they will haircut your income by 20% to allow for FX movements. You will probably be asked to show not only that you have cash for the requisite deposit but also enough cash for your first 6 months of mortgage payments though this depends on where and what you buy.

What are the new requirements about having a connection to the area?

Changes in mortgage guidelines issued by the Central Bank of Ireland in 2016 mean that it has become even harder for non-residents to buy in the Republic of Ireland. Now you have to show a connection to the area in which you want to buy and this is usually evidence via family ties and must be proven by showing an active Irish bank account and evidence of regular travel to/from this location. In summary it means probably only Irish people (first or second generation) who have moved away from the island and now want to buy a holiday home or buy to move home can get mortgages. If you are not Irish you probably need to move there and rent for 6 months before then applying for a domestic mortgage as a resident.

Can I buy a Buy to Let in the Republic of Ireland?

No. The stated purpose of any home bought by a non-resident in the Republic of Ireland must be a holiday home or a home you intend to move to when repatriating.

Can I get development finance or self-build mortgages in the Republic of Ireland.

No. Mortgages to non-residents are only available to buy finished properties and only as a holiday home or a home you intend to move to when repatriating.

What else do I need to know about Irish mortgages?

The minimum you can borrow is €50,000, the normal term is 25 years (like in the UK) but the loan must be paid off before the oldest applicant is 65.

What is the legal process like?

The Irish legal system is based on the UK one so should be familiar to many UK buyers. In general you will need to allow 1-2 months to complete a purchase and we will connect your with solicitors experienced in conveyancing in the Irish system (if you need one). Expect to pat €2-300 for a valuation, legal fees of circa €2,000 and Stamp Duty of 1%.

Any other advice for buying property in the Republic of Ireland?

Where you buy is key. If you are buying a flat in Dublin or a holiday home in West Cork then lenders are likely to be more amenable to your application than if you were buying in a small provincial town or an isolated rural setting. Things are getting better but credit is still limited.


Lastly, to get the best rates on your foreign exchange transactions we strongly recommend you open an account with HiFX. Quite simply, they will provide a far better exchange rate than your bank and they can do one off transactions or allow you to lock in a guaranteed FX rate on mortgage payments for up to one year in advance. To find out more and sign up, visit their website here http://www.hifxonline.co.uk

Overseas Mortgages are not regulated by the Financial Conduct Authority, nor are they protected by the Financial Ombudsman Service or Financial Services Compensation Scheme. They may not be covered by the home regulator of the country concerned either, so you should consider the risks carefully.

  • Loans of up to 65% LTV are available plus you need to show savings to make first 6 mortgage payments
  • Minimum loan is €50,000 and maximum loan is €500,000
  • Maximum Debt To Income Ratio (DTIR) is 40%. Max age for repayment is 65
  • You must have a connection to Ireland e.g. be a citizen, have family there etc.

Are you looking for Overseas Mortgages?

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Frequently Asked Questions


What is the maximum LTV available?    

For non-residents the max LTV is usually 65%, maybe 70% in some rare cases.

What will it cost to arrange my mortgage?    

The fee to help prepare your mortgage varies from country to country but will be made clear to you in advance. It is usually 1-1.5% of the mortgage amount.

Will my UK credit record affect the success of my application?    

 Yes, it is a key factor in the eligibility criteria.

What is the min/max mortgage available?    

We only arrange mortgages of at least approx €100,000/$100,000. LTVs available vary from country to country but generally are n higher than about 70%

How important is my income?    

This is hugely important. Most overseas countries look at the Debt to Income ratio i.e. the percentage of your total net monthly income that is used to make debt repayments such as domestic mortgages, personal loans, car payments, credit cards AND the mortgage you are now applying for. Depending on the country you wish to buy in, this DTIR is generally between 30-40% so can be quite strict. In our experience this is the single biggest obstacle faced by UK buyers when looking to purchase overseas.


What is needed to apply

Applying for an Irish Mortgage is very easy. Below are listed the things you need in order to apply.

  • Eligibility CriteriaClean credit, big income and big deposit plus proof of ability to make first 6 months' mortgage payments
  • Documents RequiredInitially just an application form but in time you will be asked to prove income and ID
  • Additional CommentsThe entire process takes 6-8 weeks depending on the location you are buying in

To be very honest, getting a mortgage in the Republic of Ireland is not easy. Put simply you need a big deposit, big income, clean credit and you probably need to be an Irish citizen or have some strong connection to the country. Oh and you can't be buying for investment - only holiday homes or buying with an intention to move home will qualify. However, if you meet these criteria then we can help. Please call to discuss your circumstances.

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