Quickly compare Irish mortgage rates using our Mortgage calculator
The difference between the total payments over the term of the mortgage and the principal sum borrowed is interest.
On a 30-year mortgage the total interest on the loan (assume interest rate 4%) will equal to approximately 60% of the cost of the property. This is a large amount of money, and this is another good reason why you should use a professional mortgage adviser when buying your home.
For example, if the house price is €300,000 estimated total interest will be €180,000.
Interest rates are the price lenders charge for advancing you money.
Interest rates have risen sharply in Europe over the past nine months. Within the Euro area the Benchmark ECB interest rate is now 4%. This compares with the era of zero or near zero ECB rates which prevailed for the past eight years.
We expect rates to continue to rise until inflation gets under control.
There are currently some signs of inflation easing but the ECB wants to see it moving back to about 2%. At this point it is predicted that conditions may be right for the ECB to bring back its base interest rate to 2%.
Depositors will also be seeking a better return on their savings, and this will feed into a new norm for mortgage rates. Banks have been very slow to increase deposit rates.
Popular interest rate options Summer 2023
Haven Mortgages Green rate 4 year fixed 3.65%r (BER up to B3). Available here- Broker only offer
Bank of Ireland 7 year fixed rate 3.7% (BER up to B3). Available here
Avant Money 11 to 30 year fixed rate from 3.95%, fixed for full mortgage term. Available here Broker only offer
In Ireland the huge demand for housing, very high rents, strong availability of money and the extension of government supports will underpin house prices. Rising mortgage costs will inevitably impact affordability and will act to dampen prices in 2023.
Avant Money provide their mortgages through a select,broker group including Mortgages.ie.
Avant Money are a long established business in Ireland. They formely traded under the MBNA brand. The buisness is owned by the large Spanish Bank- Bankinter.
Avant entered the mortgage market three years ago.
They are the only lender offering fixed rate mortgages for periods from 11 years to 30 years. They also allow penalty free over payment facilities of up to 10% of the mortgage balance each year, on fixed rate mortgages. They have fast turnaround times.
Haven Mortgages - AIB group
Haven are a broker only lender and are part of AIB Group. They have a very competitive mortgage offering including the lowest variable rates on the market, an excellent green mortgage product that you can carry with you through your mortgage as long as your property retains the appropriate BER Rating. They also have a €5,000 cash back offer for mortgages greater than €250,000.
To view our Haven rates please clieck on our Mortgage repayment calculator and use the filter button button to select only AIB / Haven Mortgages only. You can select all lenders or a range of lenders or rate types also.
Bank of Ireland
Bank of Ireland have an attrative range of mortgages available through Mortgages.ie.
This Bank is also growing its mortgage share following the purchase of the KBC business and through organic growth, The Group has also benefited from the slow down in mortgages completed by Finance Ireland and ICS, who are both heavily exposed to international money market rates, unlike Bank of Ireland who have a very strong deposit base..
Permanenttsb are making strong progress in building their market share both organically and through the acquisition of the Ulster Bank book.
Cash Back offers are popular with many buyers because.
Csh backcan freeup cash to assist with home decoration after a purchase. From a longer term perspective cash back offers may prove expensive and it is importnat to take advice on the merits of cash back offers.
Mortgages.ie provide you with impartial information to help the decision making progress. Use the table below to view the latest lender mortgage rates.
If you feel bewildered by the wide range of mortgage options available, why not talk to one of our experienced consultants who will take you through the options and help you choose the mortgage that's right for you. Either fill in the quick contact form or telephone 01 8327250 for no-obligation, advice.
For our latest commentary of mortgage rates please visit our Mortgage News section.
Other useful tools:
- Mortgage Repayment Calculator Compares mortgage rates across Irish Mortgage lenders and calculates monthly repayments
- Lender Facilities
Comparison charts for major Irish mortgage lenders.
- How Much Can I Borrow
Find out how much you can borrow, and calculate typical monthly repayments.
- Mortgage Protection Calculator This calculator compares mortgage protection insurance and Life insurance across all the main Life Companies and applies exclusive discounts available to Mortgages.ie visitors