By Quick answer: Under Central Bank rules, a first-time buyer in Ireland can borrow up to 4 times gross annual income, and second and subsequent buyers up to 3.5 times. You need a minimum 10% deposit. A couple earning €100,000 combined could borrow up to €400,000 as first-time buyers, or €350,000 as movers. Lenders can exceed these limits for a small share of loans.
What are the Central Bank mortgage limits?
| Buyer type | Loan-to-income limit | Minimum deposit |
|---|---|---|
| First-time buyer | 4x gross income | 10% (loan-to-value up to 90%) |
| Second or subsequent buyer | 3.5x gross income | 10% |
| Buy-to-let | n/a (separate rules) | 30% |
Lenders may lend above the limits for up to 15% of lending to first-time buyers and 15% to movers (10% for buy-to-let). Individual lenders also run their own affordability checks, so the amount you are offered can be lower than the maximum.
Worked examples
- Single buyer on €60,000: up to €240,000 (4x) plus a 10% deposit, so a purchase budget of roughly €267,000.
- Couple on €100,000 combined: up to €400,000 as first-time buyers. The same couple buying as movers could borrow up to €350,000.
These are ceilings, not guarantees. Your credit record, existing debts, savings pattern and job security all feed into the lender’s decision.
What changed in 2026?
In April 2026 the Central Bank eased its rules so that principal-home bridging loans are exempt from the loan-to-income limit. The change is aimed at homeowners, especially older households trading down, who want to buy a new home before selling the current one. It does not change the 4x and 3.5x limits for standard mortgages.
What will a mortgage cost?
The Central Bank reports that the average rate on new Irish mortgage agreements was 3.53% in August 2026. Fixed rates averaged 3.49% and variable rates 4.16%, and fixed-rate loans made up 94% of new lending. The euro-area average was 3.62%, so Irish new-mortgage rates are now below the euro average.
An illustration for a €300,000 loan over 30 years:
| Rate | Monthly repayment | Total interest |
|---|---|---|
| 3.49% | about €1,345 | about €184,400 |
| 4.16% | about €1,460 | about €225,600 |
Illustrative calculation only; lender fees, insurance and product terms are not included.
How can I improve my chances of approval?
- Save a consistent monthly deposit and keep the statements.
- Clear or reduce credit card and loan balances before applying.
- Check your Central Credit Register report for errors.
- Compare several lenders, or use a regulated mortgage broker.
- Ask whether you qualify for state supports (see our first-time buyer guide).
Key takeaways
- 4x income for first-time buyers, 3.5x for others, 10% deposit.
- April 2026 change helps bridging loans for movers.
- Average new mortgage rate: 3.53% (August 2026).
FAQs
How much can a first-time buyer borrow in Ireland?
Up to four times gross annual income, with a minimum 10% deposit.
What deposit do I need for a mortgage in Ireland?
A minimum of 10% for first-time buyers and for second and subsequent buyers. Buy-to-let buyers need 30%.
Can a bank lend more than 4x my income?
Yes, within an allowance of 15% of its lending for first-time buyers, but this is at the lender’s discretion.
What is the average mortgage rate in Ireland now?
The Central Bank put the average rate on new mortgages at 3.53% in August 2026, the latest figure at the time of writing.
What is a bridging loan?
A short-term loan that lets you buy a new home before selling your current one. In April 2026 the Central Bank exempted principal-home bridging loans from the income limit.
This is general information, not financial advice. Speak to a regulated lender or broker about your own circumstances.
Sources: Central Bank of Ireland mortgage measures and retail interest rate statistics (August 2026); RTÉ and Irish Times, 8 April 2026; Irish Examiner on August 2026 rates.
