If you’re a first-time buyer gearing up to step onto the property ladder in Ireland this year, you’ll be glad to know that the mortgage market in 2025 is brimming with competitive rates, generous cashback offers, and new sustainable green mortgage options. But with so many offers on the market, how do you actually find which lenders have the best first time mortgage rates in Ireland or what qualifies as a good mortgage rate for first time buyers?
That’s where we come in. In this guide, we’ll break down how to find the best mortgage interest rates for first time buyers, compare the lowest first time buyer mortgage rate offers, and help you understand what really matters when choosing the right deal. So, grab a cuppa, settle in, and let’s navigate the best mortgage rates Ireland first time buyer market—together.
What is considered a good mortgage rate for first time buyers in 2025?
In 2024, mortgage rates hovered between 3.60% and 5.50%, depending on the lender, loan term, and borrower’s financial profile. As we move through 2025, the average rate for first-time buyers is thankfully on a downward trend and sitting around 3.4% to 4.2% offering slightly more breathing room for new homeowners.
So, what exactly is considered a good mortgage rate for first time buyers? Generally, anything under 4% is viewed as a highly competitive in today’s market. However, remember that the “lowest first time buyer mortgage rate” doesn’t always mean it’s the best overall deal—the best rate for you is the best rate available to you. In short, the best mortgage interest rates for first time buyers are the ones that not only offer a low rate but also are available to you.
How mortgage rates work in Ireland
Before comparing numbers, it’s essential to understand the different types of mortgage rates available in Ireland, especially if you are on the hunt for the best mortgage rates for first time buyers:
- Fixed rates: With a fixed-rate mortgage, you interest rate stays the same for a set term (e.g., 3, 5, or 10 years). This option offers predictability and is ideal for budgeting. One Irish lender even offers long-term fixed rates of up to 30 years. Great for long term security.
- Variable rates: These rates can fluctuate during the term of your mortgage, influenced by the European Central Bank (ECB), Euribor base rates or individual lender decisions. While they can sometimes start lower than fixed rates, they carry more uncertainty.
- Green mortgages: If you’re buying a highly energy-efficient home—typically with a BER rating of B3 or better—you may qualify for a green mortgage, which often comes with a discounted interest rate. These can be some of the best first time mortgage rates available, depending on your property type.
Knowing your options will help you better evaluate what’s on offer and what truly counts as a good mortgage rate for first time buyers The right rate for you depends not just on the number, but on how the mortgage fits your financial plans and lifestyle.
The best first time buyer mortgage rates in Ireland for 2025
Now to the part you’ve been waiting for —what are the best mortgage interest rates for first time buyers in Ireland right now? Below, we’ll break down the most up-to-date rates from major lenders, helping you identify the lowest first time buyer mortgage rate options, for both fixed and variable rates, and determine which banks are offering the most value in 2025.
The rates below assume a mortgage of €250,000 over 30 years and a Loan to Value of <90%. Better rates may be available for you. Ask your MortgageLine Adviser for details.
The best fixed rates for first time buyers in 2025
|
Lender |
5-Year Fixed Rate |
APRC |
Monthly Repayment |
|
PTSB |
3.85% |
4.20% |
€1,172 |
|
Avant Money |
3.60% |
3.85% |
€1,137 |
|
Bank of Ireland |
4.05% |
4.35% |
€1,199 |
|
Haven |
3.90% |
4.10% |
€1,179 |
|
ICS Mortgages |
3.95% |
4.25% |
€1,186 |
|
MoCo |
3.65% |
3.90% |
€1,143 |
|
Nua |
3.75% |
4.00% |
€1,157 |
The best variable rates for first time buyers in 2025
|
Lender |
Rate (Variable) |
APRC |
Monthly Repayment |
|
PTSB |
4.30% |
4.50% |
€1,237 |
|
Avant Money |
3.24% |
3.31% |
€1,087 |
|
Bank of Ireland |
4.50% |
4.70% |
€1,266 |
|
Haven |
4.25% |
4.45% |
€1,229 |
|
ICS Mortgages |
4.35% |
4.55% |
€1,244 |
|
MoCo |
4.10% |
4.30% |
€1,208 |
|
Nua |
4.20% |
4.40% |
€1,222 |
These rates are representative and can vary based on the value of your property, your deposit, and your credit worthiness. Ultimately, the best mortgage interest rates for first time buyers will depend on your personal circumstances.
Fixed or Variable: Which Mortgage Rate Is Better for First-Time Buyers?
There’s no universal answer — it depends on your priorities.
- Fixed mortgage rates offer stability, making it easier to budget with predictable monthly payments. These are often seen as the best first time mortgage rates for those who value financial certainty.
- Variable mortgage rates, on the other hand, may start higher at the moment but could save you money if interest rates drop.
Not sure whether to go fixed or variable mortgage rate? Take a look at our guide on the differences between fixed and variable rate mortgages to help you decide which suits your needs best.
What to consider beyond the interest rate
While hunting for the best mortgage interest rates for first time buyers, don’t forget to consider other key factors that could impact the total cost of your mortgage:
- Cashback offers: Some banks offer thousands back at drawdown. This can help cover fees or furnish your new home. Learn more about how does mortgage cash back works.
- Fees: Set-up charges, valuation fees, and legal costs can quickly add up. Always factor these in when comparing offers.
- Flexibility: Can you make mortgage overpayments? Are there penalties for early repayment?
- Long-term impact: Sometimes a slightly higher interest rate comes with better perks, like cashback or reduced early repayment charges
- Deposit requirements: The size of your deposit affects your LTV and therefore your interest rate. Use our guide to understand the deposit required for first time buyers.
- Mortgage calculators and broker support: The easiest way to make sense of it all is to speak to a mortgage broker for first time buyers who can save you time and compare offers and hidden deals across the board.
Tips for securing the best mortgage rates for first time buyers
Improve your credit rating
A strong credit history means lower risk to lenders—which can earn you a better rate.
Increase your deposit
A larger deposit reduces your loan-to-value (LTV) ratio, opening the door to better rates. Aim to go beyond the minimum 10% if you can.
Apply with a mortgage broker
A good broker (like MortgageLine!) can help you secure the best first time mortgage rates, including exclusive offers not available directly to the public and help you avoid common pitfalls. Check out our how to be mortgage ready guide.
Consider green mortgages
If your new home is energy-efficient, You may qualify for a green mortgage, which often offers the lowest first time buyer mortgage rate on the market.
How MortgageLine can help you find the right deal
At MortgageLine, we specialise in helping first-time buyers like you navigate Ireland’s mortgage market. We’ll analyse your unique situation and guide you to the best first time mortgage rates available in Ireland—often ones not directly advertised to the public. With our help, you’ll not only find a good rate, but a good fit for your life, too.
FAQs
What is the best mortgage company for first-time buyers?
There’s no one-size-fits-all. Avant Money, Haven, PTSB and Bank of Ireland are offering strong fixed options, while lenders like Nua and MoCo provide competitive rates and also a more flexible underwriting approach.
What’s the best interest rate for first-time buyers?
As of 2025, the most competitive fixed rates are around 3.60% to 3.90%. Anything below 4% is considered a good mortgage rate for first time buyers.
What mortgage term is best for a first-time buyer?
Most first time buyers choose terms between 25 and 30 years. A longer term lowers your monthly payment but costs more over time. It’s all about balancing affordability with long-term cost.
Contact us today for a free mortgage review call and let’s get you one step closer to your first home with the best first time mortgage rates available in Ireland.
