— I’m a —

First Time Buyer

How much can I borrow?

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!


Some tips before you start your mortgage journey

Do the maths

Find 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


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

Up to 3% cash back

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

How it works

Green 4 year fixed rate mortgage

Get a lower rate of interest if you are buying a high energy rated home

Find out more

Three months free home insurance

Offer applies to new policies that start on or after April 1st, 2024. Click “Find out more” for Offer terms

Find out more

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 advisors

One of our mortgage advisors 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

Fixed or variable rates?

All our rates explained and broken down here

Find out more
— FAQ —

Got some questions?

When you need to know, you need to know. Here are some useful answers to big questions.

From 1 January 2023, the Central Bank of Ireland has made changes to who can now be considered a First Time Buyer.

You are a First Time Buyer if you:

  • and anyone else applying with you have never borrowed for a property anywhere before;
  • have borrowed as a first time borrower for a family home before as part of a couple, but you no longer have an interest in that property yourself because your marriage, civil partnership or relationship has ended, and you have no other mortgage loans (this is called a “Fresh Start”);
  • have been declared insolvent or bankrupt and no longer have an interest in any property (this is called a “Fresh Start”);
  • are switching a mortgage for a first family home in the Republic of Ireland to us and you are borrowing more money;
  • are topping up your EBS mortgage on your first family home; or
  • have a first family home with no mortgage and you want to borrow money against the value of this home.

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.

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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.