Mortgage Calculator
Best Mortgage Rates in Ireland
We compare every bank and lender in Ireland, saving you the hassle. Not only that, but you can apply online using our state of the art digital mortgage portal.
How much can i borrow?
When a lender reviews your mortgage application, they focus on three main areas:
1. Income Lenders will typically allow first-time buyers to borrow up to four times their allowable income, or 3.5 times for second-time buyers. Allowable income includes your taxable earnings such as basic salary and, where consistent, a portion of variable income like bonuses or commission. In certain cases, lenders may approve exceptions that allow you to borrow more than these limits.
At Low.ie, we have full access to each lender’s credit policy, so we can give you a clear picture of exactly how much you could borrow.
2. Loan to Value (LTV) Under Central Bank rules, Irish residents can borrow up to 90% of a property’s value. This means you’ll need to provide a minimum deposit of 10%, along with funds for other costs such as stamp duty, legal fees, and valuation fees.
3. Proven Repayment Capacity Every lender needs to be confident that you can comfortably afford your future mortgage repayments. To assess this, they apply a “stress test” typically calculating your repayment capacity at 2% above the actual rate offered. They’ll then look for evidence that you’ve been able to sustain these payments over the past six months. This can be shown through rent you’re currently paying, regular savings, or loan repayments that will end before your mortgage begins.
Your Low.ie mortgage advisor will guide you through each of these steps, helping you prepare the strongest possible application for lender approval. It’s what we do best.
How soon should I apply for Mortgage Protection?
You should apply for your mortgage life insurance as early as you can as you will need to give the bank your policy documents a few days before you are going to draw down the mortgage loan from them.
Many factors can slow down the ability to get cover, such as health, BMI, family history etc.
If you are not sure of the exact date you will be getting your loan cheque, you can still submit your application for approval and advise us of the start date as soon as you are sure of same. There is no cost as payments only commence after the policy has started i.e. gone live.
Another smart idea is to apply for term life insurance, assigning it to the bank, with an additional year on the term. Meaning you will have the life cover available and ready when you need it. And extra life cover as your mortgage balance decreases.
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Whats Involved In The Process?
Compare Lenders Online
Enter a few short questions and compare every lender in Ireland in an instant. You can choose to continue your application on any result that you find suitable and also get a quote for your mortgage protection insurance, all in the one system.
Our Portal & Guidance
When you apply online for a mortgage using our digital portal, you will be paired with your dedicated mortgage advisor, who will guide you through the stress free process seamlessly, updating you every step of the way.
Protection & Drawdown
As part of your mortgage journey, you will be required to have life insurance for your mortgage, which we can also provide at market-leading discounts. Once your mortgage is approved – we’ll let you know the good news!
Would you like to speak to our Mortgage team?
We offer personalized assistance in finding the best mortgage available for your financial situation. With access to a wide range of lenders, Low.ie can compare multiple lenders, some of which are not available to the public, to secure the most competitive rates on the market.
