We offer home buyers up to 3% back in cash. that's 2% of the value of your new mortgage upfront and 1% in five years as a first-time buyer
— FIRST TIME JITTERS —
Taking a giant step
Buying a new home for the first time is a big deal. It's exciting, but at times it can be scary too. Luckily, we love the whole journey so much that we're able to make it a far less scary process than you think. We have tons more useful info for first time buyers in our first time buyer guide too!
— GETTING STARTED —
Some tips before you start your mortgage journey
Do the maths
Fiind out if getting a mortgage makes financial sense. Your new home may be financed with a combination of savings & a new mortgage
Get saving
It makes sense to save as much as you can for a deposit on your new home. Set up a monthly direct debit from your current account into your savings account
Budget
Do a household budget. Work out how much you have coming in versus what you spend every month. Consider other loans or monthly costs you have
— NEXT STEPS —
Let’s help get you into your new home
See how much you could borrow
User our calculator to figure out how much you can comfortably afford to repay each month
Speak to our mortgage masters
One of our mortgage masters will help you navigate the application process
Get your approval in principle
This will give you an idea of how much you can borrow towards buying your new home. Generally, this lasts up to 6 months
— FAQ —
Got some questions?
When you need to know, you need to know. Here are some useful answers to big questions.
The Central Bank rules will come into play here and will be different for first time and next time buyers. So, the amount you can borrow will be based on your income, your house price, and your affordability.
First Time Buyers can borrow a maximum of 90% of the value of the property (this percentage is known as the LTV, or Loan to Value of your home). Yep, that means you’ll need a 10% deposit.
If you are buying a one-bedroom property or a studio apartment valued at €275,000 or above, the maximum loan amount is 80% of the property’s value.
By rule of thumb, you can borrow 4 times your income. We’ll also need to make sure you can still live within your means. The amount you can borrow also depends on what you can comfortably afford to repay monthly, this typically should not exceed 35% of your disposable income. It’s all about that comfort cushion. Why not use our mortgage calculator to see what you can afford?
A fixed interest rate will stay stable during the period of your loan, while the variable rate will fluctuate. We offer both fixed and variable mortgage interest rates. You can see a full listing of our current rates right here.
And if you still can’t choose? Well, you don’t have to. You can have your cake and eat it too. For customers who are unsure of what type of rate to select, EBS provide the option of splitting the loan amount in two, so you can avail of both the variable interest rate on a portion of the loan and a fixed interest rate on the remaining portion of the loan.
If you take out a Mortgage with a Fixed Rate of at least one year and decide to repay all or part of it early, if you change to a Variable Interest Rate, or, if you change to another Fixed Interest Rate we may charge you an early breakage fee. You can find information about how we calculate and when we charge this early breakage charge by clicking on ‘Home Mortgages General and Regulatory Information’ below and then selecting ‘Our mortgage interest rate options’.
When you buy your new home, you may also need cash to fund additional costs such as:
- Valuation fees for a report on your house, which is given your lender
- Legal fees for your solicitor
- Surveyor fees to look over the house before you buy
- Stamp duty. Log on to revenue.ie for the latest stamp duty rates
- Repairs, decoration & furnishings
- Storage & moving fees
Mortgage protection cover (commonly known as mortgage protection), is a popular form of life insurance. This type of plan will pay off your mortgage if you die during the terms set out. Mortgage protection cover is a must-have for any mortgage holder because mortgage lenders will require you have this in place before they grant you a mortgage.
You should apply for mortgage protection as soon as possible. There can often be delays with getting cover in place particularly if you have any medical conditions. Your insurance company may look for a medical report from your Dr or ask you to attend a medical assessment, which can prolong the process.
Need more support?
Regulatory Information
- Lending criteria, terms and conditions apply. Over 18s only. Security may be required.
- WARNING: If you do not keep up your repayments you may lose your home.
- WARNING: You may have to pay charges if you pay off a fixed-rate loan early.
- WARNING: The cost of your monthly repayments may increase.
- WARNING: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit, a hire-purchase agreement, a consumer-hire agreement or a BNPL agreement in the future.