Irish Mortgage Lender Comparison 2026: Rates, LTI & Bonus Treatment
Three numbers decide what house you can afford in Ireland: the rate the bank charges, the multiple of income they'll lend, and the slice of variable pay they'll count. The rate is on every billboard. The other two are buried in salary certificates and credit policies most buyers never see until an underwriter trims €40,000 off their approval.
This piece pulls all three together — every major Irish lender, the rates they offer at each LTV and BER tier, and how each one treats bonus income. There's an interactive comparator below the rate table that re-ranks every lender as you change your deposit, term, or BER.
The Rate Picture, May 2026
The Irish market in 2026 looks materially different from 18 months ago. PTSB cut rates again in January 2026, AIB and Haven cut their non-green fixed rates in October 2025, and Avant Money has been the most active across both directions — cashback doubled to 2%, fixed rates as low as 3.20% on the High-Value 4-year (loans ≥€300k at ≤60% LTV), while Flex (variable) rates have moved both ways with Euribor.
The cheapest fixed rates sit at or just under 3% — but they require a strong BER, a low LTV, or a large loan, and not always on the same term. AIB's 3.00% is its 3-yr GreenA; PTSB's 3.00% is the standard 4-yr at ≤60% LTV (no green required, but no cashback either). The interactive comparator below lets you filter by your own deposit, term, and BER. Below: the headline best rate at each lender, with the qualifying conditions in the notes.
What is a BER? Building Energy Rating runs from A1 (most efficient) to G (least). Properties rated A1–B3 qualify for green mortgage rates at most lenders — typically 0.10–0.30% below the standard rate. New builds are almost always A-rated; many semi-ds built after 2010 qualify after a retrofit. Your solicitor or seller can provide the BER cert.
| Lender | Best rate available | Cashback | SVR | Note |
|---|---|---|---|---|
| AIB | From 3.00% | No cashback | 4.15% | 3yr GreenA (≤50% LTV, BER A1–B3). 4yr HVM from 3.40% (≥€250k). 5yr green from 3.20%. |
| Bank of Ireland | From 3.10% | 2% drawdown + 1% at year 5 (excludes HVM rate) | 4.15% | 4yr HVM (≥€250k, BER A). 5yr HVM from 3.40%. 2%+1% cashback on EcoSaver terms (not HVM). |
| PTSB | From 3.00% | Cashback excludes 4-yr fixed (green 2%+2% applies to 3- or 5-yr only) | 4.70% | 4yr standard from 3.00% (≤60% LTV). Green 3yr/5yr with 2%+2% cashback. No green 4yr. |
| Haven | From 3.20% | €5,000 (non-green 4-yr only — not stackable with green) | 4.15% | 4yr green flat 3.20% across all LTV bands. €5k cashback on standard 3/4/5yr (≥€250k, non-green). |
| Avant Money | From 3.20% | 2% on 3/4/5/7/10-yr fixed (excludes HVM and Flex) | 3.47% | 4yr HVM 3.20% (≥€300k, ≤60% LTV). 3yr/5yr from 3.40% with 2% cashback. 30-yr fixed available. |
| EBS | From 3.20% | Green: €3,000 (switchers only). Non-green: up to 3%. | 4.15% | 4yr green flat 3.20% across all LTV bands. No green product on 3yr or 5yr. |
Compare the Rates Side-by-Side
The comparator below ranks every lender on net fixed-period cost — the total interest you'd pay over the fixed term, minus any cashback. Toggle between 3, 4, and 5-year terms to see how PTSB's green cashback and AIB's GreenA rate unlock on the 3 and 5-year terms. Move the deposit slider across the LTV thresholds and watch the ranking shift. Toggle BER off and the green-only lenders lose their edge.
Loan: €350,000 · LTV: 88%HVM tier
Net 4-year cost (interest minus cashback): €41,481
| Lender | Rate | Monthly | Interest (4yr) | Cashback | Net 4yr cost | Balance remaining |
|---|---|---|---|---|---|---|
| Avant MoneyBest | 3.60% | €1,591 | €48,481 | €7,000 | €41,481 | €322,101 |
| Bank of Ireland | 3.10% | €1,495 | €41,609 | — | €41,609 | €319,871 |
| Haven | 3.20% | €1,514 | €42,981 | — | €42,981 | €320,326 |
| EBS | 3.20% | €1,514 | €42,981 | — | €42,981 | €320,326 |
| PTSB | 3.50% | €1,572 | €47,104 | — | €47,104 | €321,665 |
| AIB | 3.60% | €1,591 | €48,481 | — | €48,481 | €322,101 |
Net cost covers interest minus cashback over the fixed period only. A lower remaining balance means slightly less to refinance — compare both columns when choosing.
Rates verified against published lender pages, May 2026. AIB's best LTV tier is ≤50% (GreenA 3yr / 5yr green); all other lenders use ≤60%. On 3yr: PTSB and AIB offer green products with competitive rates and (PTSB) cashback. On 4yr: AIB and PTSB have no green product — AIB's best 4yr is HVM (≥€250k); Haven and EBS are flat green at 3.20%; BOI's 4yr HVM leads on rate. On 5yr: PTSB green 5yr re-enables cashback; AIB offers a 5yr green from 3.20%. Cashback modelled realistically: PTSB 2% drawdown + 2% on monthly repayments to 2030 (3yr and 5yr only — excluded on 4yr); BOI 4yr and 5yr HVM carry no cashback; Avant 4yr HVM excluded; Haven's €5,000 applies to non-green with loan ≥€250k; EBS green cashback (€3,000) is for switchers only. Net cost = interest over the fixed period minus upfront and ongoing cashback. Confirm your exact rate and eligibility with the lender or a broker before applying.
Loan-to-Income: How Much They'll Actually Lend
The Central Bank of Ireland sets two binding limits on every residential mortgage. First-time buyers can borrow up to 4 times gross annual income. Second-time and subsequent buyers up to 3.5 times. Loan-to-value is capped at 90% for both — a 10% deposit minimum.
These limits are not soft. They are macroprudential rules, monitored quarterly, and lenders are penalised by the regulator if they breach them across their book.
The exceptions — and the catch
The Central Bank explicitly permits lenders to exceed these limits on a portion of their lending. In any one calendar year, 15% of mortgages a lender writes to first-time buyers can breach either the LTI or the LTV limit, and 15% of mortgages to second-time buyers can do the same. These are commonly called “exemptions” or “exceptions.”
In practice, an LTI exception means a first-time buyer might be approved at up to ~4.75× income, and a mover at up to ~4.5×. The catch is threefold: lenders rarely use their full allocation, you can typically only breach one rule (LTI or LTV — almost never both), and exceptions tend to be front-loaded into the calendar year. By Q4, many banks have run out.
First-time buyer schemes that affect your LTV
Two government schemes can reduce the deposit you need to bring yourself, which directly improves your LTV — and therefore your rate tier. Help to Buy provides a tax refund of up to €30,000 for qualifying new builds, applied directly to the deposit. The First Home Scheme offers an equity stake of up to 30% of the purchase price for new builds where you can't cover the gap between your mortgage and the price. Both schemes can move you into a lower LTV band, unlocking better rates. Confirm eligibility on helptobuy.gov.ie and firsthomescheme.ie.
Switchers play by different rules
If you are switching your existing mortgage to a new lender without releasing additional equity, the Central Bank's LTI and LTV rules do not apply. The new lender will still apply its own internal credit policy, but they are not constrained by the 4× cap. This is one of the most underused levers in the market.
How Much of Your Bonus Actually Counts?
Of the three levers — rate, LTI, and income recognition — bonus treatment is where lenders quietly diverge most. Two applicants with identical €70,000 base salaries and €15,000 bonuses can get approvals that differ by more than €60,000 depending on which bank they walk into.
The Central Bank does not specify how lenders should treat variable income. It only specifies that the LTI calculation uses “gross annual income.” Each lender sets its own internal rule for what counts.
| Lender | Bonus / variable income treatment |
|---|---|
| AIB | Basic salary anchored. Variable income case-by-case. |
| Bank of Ireland | Basic + portion of averaged bonus (~50%), at underwriter discretion. |
| PTSB | Basic + up to 50% averaged bonus. Stronger cases (3+ yrs, contractual) treated more generously. |
| Haven | Mirrors AIB. As broker-only, individual cases can be argued by your broker. |
| Avant Money | Among the strictest in the market on variable income. Focus on guaranteed and regularly-received pay; many cases see little or no bonus counted toward the income multiple. |
| EBS | Mirrors AIB — basic salary anchored. |
Profile: First-time buyer, single, earning €80,000 base + €20,000 average bonus over 3 years.
- Avant Money: Income recognised ≈ €80,000. Max loan at 4× LTI = €320,000
- AIB / Haven / EBS: Headline LTI on €80,000 → €320,000. Bonus may improve affordability but rarely lifts the LTI ceiling.
- BOI / PTSB at 50% bonus inclusion: Income recognised ≈ €90,000. Max loan at 4× LTI = €360,000
Difference: €40,000 of borrowing capacity, on identical income. Before any LTI exception is even discussed.
The unwritten rule: consistency
Across every lender that does count bonus income, the underwriter is looking for the same thing: consistency. A bonus paid every year for three years in similar amounts, contractually described in your employment terms, is treated very differently from a one-off that appeared last December. Three years of P60s/EDS is the universal evidence requirement. If your most recent year was an outlier — much higher or much lower — expect the underwriter to use the average, or in some cases the lowest of the three.
The same logic applies to overtime, shift premiums, on-call payments, and sales commission. They are not zero — but they are not full-weight either.
Lender-by-Lender, in One Screen
AIB
Green ratesPillar bank · Direct & broker
- Best rate
- From 3.00%
- SVR
- 4.15%
- Cashback
- No cashback
- Bonus stance
- Basic salary only; variable income case-by-case.
- Strength
- 3yr GreenA (≤50% LTV, BER A1–B3). 4yr HVM from 3.40% (≥€250k). 5yr green from 3.20%.
Bank of Ireland
Green ratesPillar bank · Direct & broker
- Best rate
- From 3.10%
- SVR
- 4.15%
- Cashback
- 2% drawdown + 1% at year 5 (excludes HVM rate)
- Bonus stance
- ~50% of averaged bonus counted; underwriter discretion.
- Strength
- 4yr HVM (≥€250k, BER A). 5yr HVM from 3.40%. 2%+1% cashback on EcoSaver terms (not HVM).
PTSB
Green ratesDirect & broker · Acquired Ulster Bank book
- Best rate
- From 3.00%
- SVR
- 4.70%
- Cashback
- Cashback excludes 4-yr fixed (green 2%+2% applies to 3- or 5-yr only)
- Bonus stance
- Up to 50% of averaged bonus; stronger with 3yr track record.
- Strength
- 4yr standard from 3.00% (≤60% LTV). Green 3yr/5yr with 2%+2% cashback. No green 4yr.
Haven
Green ratesBroker-only · AIB Group
- Best rate
- From 3.20%
- SVR
- 4.15%
- Cashback
- €5,000 (non-green 4-yr only — not stackable with green)
- Bonus stance
- Mirrors AIB; broker can argue individual cases.
- Strength
- 4yr green flat 3.20% across all LTV bands. €5k cashback on standard 3/4/5yr (≥€250k, non-green).
Avant Money
Broker-only · Owned by Bankinter (ES)
- Best rate
- From 3.20%
- SVR
- 3.47%
- Cashback
- 2% on 3/4/5/7/10-yr fixed (excludes HVM and Flex)
- Bonus stance
- Strictest in market; little or no bonus typically counted.
- Strength
- 4yr HVM 3.20% (≥€300k, ≤60% LTV). 3yr/5yr from 3.40% with 2% cashback. 30-yr fixed available.
EBS
Green ratesDirect & broker · AIB Group
- Best rate
- From 3.20%
- SVR
- 4.15%
- Cashback
- Green: €3,000 (switchers only). Non-green: up to 3%.
- Bonus stance
- Basic salary only; mirrors AIB policy.
- Strength
- 4yr green flat 3.20% across all LTV bands. No green product on 3yr or 5yr.
The Practical Takeaway
For a buyer with a clean PAYE profile, a strong BER, and a low LTV, the rate table is the comparison that matters. PTSB leads on the standard 4-yr at 3.00% (≤60% LTV), AIB's 3-yr GreenA also opens at 3.00%, and Haven and EBS are flat at 3.20% on the 4-yr green across LTV bands. The choice between them comes down to fixed-period length, cashback structure, and follow-on rate.
Quick decision guide
- Large loan (≥€300k) + ≤60% LTV + stable salary — Avant HVM 4yr at 3.20%, no cashback but unbeatable rate; 30-yr fixed option also available.
- Green BER (A1–B3) + any LTV — Haven flat 3.20% on 4yr (simple, no conditions), or PTSB 3yr/5yr green with 2%+2% cashback if the ongoing cashback matters to you.
- Significant bonus income — BOI or PTSB first. Their ~50% bonus inclusion can mean €40,000+ more borrowing on the same base salary. Get approval there before optimising the rate.
- Need cash upfront — BOI EcoSaver 3yr (2% drawdown, no HVM) or Avant 3yr/5yr (2% cashback on standard fixed). PTSB green 3yr/5yr adds ongoing cashback to 2030.
- Switching an existing mortgage — Haven (€5k cashback + green 3.20%) or BOI (2%+1%). LTI rules don't apply; shop on rate and cashback.
For a buyer whose bonus is a meaningful part of their compensation — common in financial services, tech, and sales — the bonus policy decides the deal long before the rate does. BOI and PTSB's willingness to count averaged bonus at around 50% will, in many cases, mean a larger approval than Avant Money's strict variable-income policy allows. Conversely, a borrower with stable basic salary and no variable component should look hard at Avant: the 3.47% Flex variable, 30-year fixed availability, and 10% annual overpayment allowance are unmatched.
For switchers, the calculation changes again. Central Bank LTI rules don't apply, lenders compete on rate alone, and the cashback offers — particularly Haven's €5,000 and BOI's 2%+1% — can fund the legal and valuation costs of the move with margin to spare.
The number to focus on, in every case, is APRC, not the headline. The cheapest 2-year fix that rolls onto a 4.7% variable will cost more over a 25-year term than a 3.5% 5-year fix that rolls onto 3.95%. The CCPC recommends APRC for comparison for exactly this reason. If your broker is quoting headline rates without APRC, ask for both.
One last thing
The Irish mortgage market in 2026 is more competitive than it has been since pre-2008. Five rate-changing lenders, several of them cutting rates over the last year, with cashback being raised, not trimmed. That competition is real, and it is worth shopping. But the lender that gives you the biggest mortgage on paper is not always the lender that gives you the best 25-year cost. Run the APRC. Read the salary certificate before you sign it. Ask about exceptions early in the year, not late.
Sources: AIB, Bank of Ireland, PTSB, Avant Money, Haven, and EBS published rate sheets and mortgage policy documents (May 2026); Central Bank of Ireland Mortgage Measures Framework; Citizens Information; bonkers.ie rate change tracker.
Disclaimer: Rates and policies cited reflect publicly available information as of 4 May 2026. Mortgage rates change frequently, and the application of bonus and variable income to LTI calculations is at each lender's discretion and subject to underwriter assessment. This article is not financial advice. Speak to an authorised mortgage broker or directly with a lender for a quote based on your specific circumstances. Warning: if you do not keep up your repayments you may lose your home.
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