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?