FTBB – Ireland's First-Time Buyer Resource Hub

Record mortgage approvals in May 2026 — First-time buyers drive historic surge in applications Bank of Ireland forecasts 4% price growth — Market entering more sedate phase after years of double-digit rises Central Bank eases rules for those trading down — New mortgage lending exemptions take effect from April 2026 €3 billion in drawdowns in Q1 2026 — BPFI reports strongest first quarter on record Is Ireland's housing market finally turning? — Irish Times analysis of supply, demand and affordability CSO: Property prices up 6.8% year-on-year — February 2026 Residential Property Price Index published Record mortgage approvals in May 2026 — First-time buyers drive historic surge in applications Bank of Ireland forecasts 4% price growth — Market entering more sedate phase after years of double-digit rises Central Bank eases rules for those trading down — New mortgage lending exemptions take effect from April 2026 €3 billion in drawdowns in Q1 2026 — BPFI reports strongest first quarter on record Is Ireland's housing market finally turning? — Irish Times analysis of supply, demand and affordability CSO: Property prices up 6.8% year-on-year — February 2026 Residential Property Price Index published

Step By Step

The Complete Buyer's Roadmap

Everything you need to know, in the right order — from saving your deposit to getting your keys. Click any topic to expand the key facts every Irish first-time buyer should understand.

01 Setting Your Budget

Before you begin house hunting, you need to understand what you can realistically afford. Your budget is shaped by your savings (minimum 10% deposit for most buyers), your mortgage borrowing capacity (typically 3.5× gross annual income under Central Bank rules, with a first-time buyer exception up to 4×), and the additional costs you'll pay at closing: stamp duty (1% on the first €1m), solicitor fees (€1,500–€3,000 + VAT), surveyor costs (€300–€500), and a bank valuation fee (€150–€185).

02 Understanding the Mortgage Process

The Irish mortgage process has three stages: Approval in Principle (AIP), full mortgage approval, and drawdown. AIP typically takes 2–4 weeks and tells you the maximum a lender will offer. Once you've found a property, you return to the lender for full approval — this triggers a formal valuation. Drawdown happens on the day of closing when the funds are released to the vendor's solicitor. Most lenders offer fixed and variable rate options; the majority of first-time buyers currently opt for 3–5 year fixed rates.

03 Help to Buy & First Home Scheme

Two key government schemes assist Irish first-time buyers. The Help to Buy (HTB) scheme provides a tax refund of up to €30,000 on new builds or self-builds, recouping income tax paid over the previous four years. The First Home Scheme (FHS) allows the State to take an equity stake of up to 30% in your home, bridging the gap between your mortgage + deposit and the purchase price — you only buy back the equity when you sell or remortgage. Both schemes can be used together to maximise your purchasing power.

04 Choosing the Right Property

New builds and second-hand homes each have real advantages. New builds qualify for the Help to Buy scheme, come with structural guarantees (HomeBond or Premier Guarantee), and are typically more energy efficient — but may require waiting for completion. Second-hand homes are immediately available, often in established areas with schools and transport links, but require more thorough due diligence including an engineer's report. Always research comparable sales prices in the area before making an offer.

05 Making an Offer

Offers in Ireland are made verbally through the estate agent. If your offer is accepted, you'll pay a booking deposit (typically €5,000–€10,000) to temporarily secure the property while your solicitor begins the legal process. Crucially, this deposit is fully refundable up to the point of signing contracts — the sale is not legally binding until contracts are exchanged. Before making an offer, have your Approval in Principle ready and, for second-hand properties, commission a structural survey.

06 The Legal Process (Conveyancing)

Your solicitor reviews the title documents, raises queries with the vendor's solicitor, and prepares contracts for sale. Once both parties are satisfied with the title — a process that typically takes 4–8 weeks — contracts are signed and you pay a 10% deposit (less the booking deposit already paid). Your solicitor will also carry out searches on the title to confirm there are no planning issues, judgement mortgages, or outstanding local authority charges. Closing usually happens 4–6 weeks after contracts are signed.

07 Stamp Duty & Other Costs

Stamp duty in Ireland is 1% on the first €1 million of the purchase price (2% above €1m). Budget separately for: solicitor fees (€1,500–€3,000 + VAT), surveyor/engineer report (€300–€500), mortgage protection insurance (mandatory for most mortgages), home insurance, and a bank valuation fee (€150–€185). In total, plan for 2–3% of the purchase price in additional transaction costs on top of your deposit. Many of these costs are payable on or before the day of closing.

08 Moving Day & Beyond

On the day of closing your solicitor will confirm receipt of funds from the lender and release the keys. Before or shortly after moving in: update your address with Revenue, your bank, and the DVLA; register utilities (electricity, gas, broadband); notify your local authority for Local Property Tax (LPT) registration; and ensure your home insurance policy is active from the date of closing. Keep all documents from your purchase — title deeds, contracts, planning permissions — you'll need them if you ever sell or remortgage.