Frequently Asked Questions

Most popular mortgage calculators have a large range of innovative calculators developed specifically for the Irish mortgage market.
mortgages calculators.

Mortgage repayment calculator

This is an extremely useful tool when comparing mortgages.Special features include the ability to compare mortgages true costs by analysing the real rates over the life of a mortgage unlike conventional calculators which only look at opening rates.


Switch and save calculator

Our switch and save calculator calculates the benefit of simply switching to the cheapest lender available.It is quite amazing the savings that one can make over the life of a mortgage through switching.

Costs associated with a mortgage?

Deposits are not strictly a cost but when you are adding up what money you need to buy a house, your deposit will be the biggest element of this requirement.

First time buyers can get approval up to 90% and if availaing of the help to buy scheme can effectuivley get up to 95% when taking the 5% tax rebate into account. 

Savings are a key part of the mortgage process. Whereas banks currently place less reliance on savings than in the past, the discipline of saving cannot be underestimated.

A steady savings record helps an application. Banks may require evidence of the deposit in the form of savings books etc as part of the loan underwriting process. Loans from parents very often form a part of the deposit. Savings also reduce the necessity for short term borrowing which may have a strong impact on cash flow following a house purchase. 
Stamp Duty Rates - see our stamp duty

Legal Fees - see our legal fees calculator


It is recommended that you employ the services of a qualified surveyor to check the property for any structural problems or to advise you on any matters that may involve significant outlay e.g. dry-rot, subsidence, dampness etc. The structural survey is usually not a condition of the loan offer and is a completely different matter to the valuation, which is carried out on the lenders behalf. Use a reliable firm, agree their fees at the outset and insist on a written report.  Typical cost €400


Before a lender will issue a formal offer letter in respect of a property, they require an independent valuation from a qualified valuer. We will arrange this for you.
Typical Cost €140


Lenders require mortgage holders to take out a life insurance policy. This policy provides for the repayment in full of the mortgage in the event of death of one of the mortgage holders. You are not required to take this policy out with the mortgage provider.Please see our life insurance on our home page. act as an intermediary for 6 of Ireland's leading Life Companies.


The lender will also require that you take out a building insurance policy on your house and that the interest of the lender be noted on the policy.

Which rate should I choose?

One decision which needs to be made is whether to choose a variable or fixed rate mortgage.

There are several factors to consider in making your choice. Future interest rates are uncertain and fixing interest rates should be considered in the following circumstances:

  • Where mortgage repayments represent a major portion of net income
  • Where mortgage levels are large 
  • Where there are general feelings that interest rates will rise
  • Where rates are historically low
  • Where you like certainty.. 
  •  Most lenders offer products, which allow you split your mortgage into fixed and variable elements. It is important to bear in mind that breaking a fixed rate contract may involve penalties. Please click here to view current mortgage rates.

Your mortgage consultant will discuss the various options open to you.

How long does mortgage approval take?

Use our calculators to estimate your borrowing capacity and review the typical lending criteria above. The next step is to give us a call or complete our secure on line application

Based on the information we will generally be able to advise you straight away whether you will qualify for a mortgage and we will also provide you with an estimated borrowing limit.
Our consultant will then advise you of the precise information required and make an appointment to meet you.
At that meeting our consultant will explain the various options available and will guide you through the completion of any application forms required.

We will then submit the applications to the chosen lenders and we would expect formal approval in about seven days.

Do I need to have saved a deposit?

See:  How much can I borrow section

Tell us more about

Researching the market to provide choice!

Mortgage Company of Ireland acts as an impartial advisor in regard to the mortgage products available from Ireland's major mortgage lenders.

Our recommendations are based on an assessment of the suitability of a mortgage product to meet your unique requirements.
Our focus is on the long term value of the mortgage product.
Our website reflects our commitment to bringing you all the latest news and information on the Irish Mortgage market to assist you in making an informed decision on the range of mortgages available in Ireland.


Mortgage Company of Ireland is part of the Finance Company of Ireland group of companies.
The group commenced trading in 1996 and has gained a strong reputation in both business and consumer finance. Our product range includes mortgages,life assurance and commercial mortgages.

Our management team is headed by Shane Lavin . Shane is a fellow of the Institute of Chartered Accountants in Ireland and has over 30 years experience in Finance and Banking.


We pride ourselves on providing a highly professional service 

  1. If visiting our offices does not suit you, we will meet you at a location and time of your choosing e.g. evenings or Saturday mornings if required.
  2. Each application is allocated to an experienced mortgage consultant.
  3. Your dedicated consultant and your appointed administration support consultant will be available to you will deal with your application from start to finish.
  4. We provide fast decisions and deal promptly with all relevant matters.
  5. It is our policy to meet with all our clients in person.The main exception to this policy is in regard to overseas clients where this is not a practical position.
  6. We strive to build long lasting relationships founded on our customers satisfaction with the service levels and products we provide .
What are the steps involved in the mortgage process?

1. Make a decision to buy property

  • Once decision is made, start saving
  • Forgo entering into new loan agreements whenever possible
  • Keep a close eye on property market
  • Establish your property goals
2. Obtain loan approval
  • Review our site in detail - lending criteria, borrowing capacity, costs etc
  • Complete loan application form
  • Quickly assemble all information needed to support your application
  • Choose lender in conjunction with Mortgage Company of Ireland
  • Obtain formal approval in principle
3. Choose a property
  • Choose your preferred location and match borrowing capacity with property goals
  • Be prepared to negotiate aggressively
  • Don't rush or buy when you are not convinced
  • Be prepared to stretch - the property you want is usually just beyond your reach
  • Obtain approval in respect of the chosen property
4. Buy property
  • Engage a Solicitor-our site has details and contact names of a range of solicitors
  • Read contracts and offer letters before signing ask questions if you are not happy
  • Sign contracts for purchase
  • Sign Loan Offer Letter - arrange house and life cover
  • Close sale and draw down mortgage
  • Move in