Reviewed by Ian, Mortgage Broker (QFA & CFA).
In Ireland you can generally borrow up to 4 times your gross income as a first-time buyer, or 3.5 times as a second-time buyer, at up to 90% of the property value (a 10% deposit), under Central Bank of Ireland rules. Lenders have limited allowances to exceed these limits, and the exact amount you qualify for depends on your income, deposit, debts and repayment capacity.
Mortgage borrowing limits in Ireland at a glance
| Buyer type | Maximum loan-to-income | Maximum loan-to-value | Minimum deposit |
|---|---|---|---|
| First-time buyer | 4 times gross income | 90% | 10% |
| Second / subsequent buyer | 3.5 times gross income | 90% | 10% |
| Buy-to-let investor | Assessed on rental income | 70% | 30% |
How much can a first-time buyer borrow?
As a first-time buyer you can generally borrow up to 4 times your gross annual income. For example, a couple with a combined income of €90,000 could borrow up to around €360,000, subject to the deposit rules and the lender assessing that you can afford the repayments. You will also need a deposit of at least 10%.
How much can a second-time buyer borrow?
Second and subsequent buyers can generally borrow up to 3.5 times gross income, again at up to 90% loan-to-value. If you are moving home, the equity in your current property can often form part of your deposit.
What is loan-to-value (LTV)?
Loan-to-value is the size of your mortgage compared with the value of the property. A 90% LTV means you borrow 90% and provide a 10% deposit. Lower LTVs (a bigger deposit) can sometimes unlock better interest rates.
Can I borrow more than the limits?
Lenders are permitted to exceed the income limits for a limited share of their new lending each year — these are known as exemptions. They are competitive and run out, so timing and knowing which lenders have availability matters. This is one area where a broker can add real value.
What else affects how much you can borrow?
Beyond the headline limits, lenders assess your repayment capacity, existing loans and credit cards, your credit history, deposit size, and evidence of savings. A strong, consistent savings record — at or above your expected monthly repayment — is one of the best ways to strengthen your application.
How Harbour View can help
As an independent, regulated mortgage broker, we calculate exactly what you can borrow across the market, identify lenders with the right criteria and any available exemptions, and manage your application from start to finish. Talk to us for a free, no-obligation consultation. First-time buyers may also be able to use the Help to Buy scheme and the First Home Scheme towards a new home.
Frequently asked questions
How much can a first-time buyer borrow in Ireland?
First-time buyers can generally borrow up to 4 times their gross annual income, at up to 90% loan-to-value (a 10% deposit), under Central Bank of Ireland rules. Lenders have limited allowances to exceed these limits for a share of their lending.
How much can a second-time buyer borrow?
Second and subsequent buyers can generally borrow up to 3.5 times gross annual income, also at up to 90% loan-to-value. As with first-time buyers, lenders can exceed the income limit for a limited share of their lending.
How much deposit do I need to buy a home in Ireland?
Most buyers need a deposit of at least 10% of the purchase price. First-time buyers may be able to use the Help to Buy scheme or the First Home Scheme towards this. Buy-to-let investors typically need around 30%.
Can I borrow more than the Central Bank limits?
Sometimes. Lenders are allowed to exceed the income limits for a set share of their new lending each year (an ‘exemption’). These are limited and competitive, so working with a broker who knows which lenders have availability can help.
What do lenders look at besides income?
Lenders assess your repayment capacity, existing debts and credit history, your deposit, job stability and monthly outgoings. Demonstrating a consistent savings record at or above your expected repayment is one of the strongest things you can do.
This guide is general information, not financial advice, and is based on Central Bank of Ireland rules that may change. For advice tailored to your situation, speak to a regulated mortgage broker. Warning: your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.
