Buying Your First Home Guide

A PRACTICAL GUIDE FOR BUYERS IN IRELAND

Buying your first home

From the first savings plan to collecting the keys

Buying a home brings several decisions together: what you can afford, where you want to live, what condition the property is in and when you are ready to commit. You do not need to solve them all at once. You do need to understand which checks come before each commitment.

This guide takes you through a first purchase in the Republic of Ireland, from preparing your finances and comparing mortgages to viewing homes, agreeing a sale, completing the legal work and moving in. It explains the people involved and the questions that help you stay in control.

Most of the process described is for a mortgage-funded purchase by private treaty, where a price is negotiated through an estate agent. Auctions, self-builds and some other transactions work differently. Those differences are highlighted where they matter.

Start with a budget you can live with

A mortgage approval sets a lending limit. Your own budget should also leave room for bills, repairs, changing circumstances and a life outside the mortgage.

Mortgage risk

Warning: If you do not keep up your repayments you may lose your home.

General educational information, not a mortgage offer or personal financial, legal, tax or property advice. Figures are illustrative unless stated otherwise. Rules and supports were checked on 4 October 2026. Read the important information on page 18 before acting.

THE DECISIONS IN ORDER

Your route to the keys

Some steps happen at the same time. For example, your solicitor may investigate the title while you arrange a survey and complete your mortgage application. Progress depends on the property, both parties and the conditions attached to your funding.

The main stages are different

Approval in principle  →  Property search  →  Sale agreed
Checks and formal loan offer  →  Binding contracts  →  Closing and keys

Approval in principle is conditional. Sale agreed is generally not a binding purchase in a normal private-treaty sale. Ask your solicitor to confirm precisely when you become legally committed. Do not treat a target moving date as certain until the completion arrangements are confirmed.

1  WORK BACKWARDS FROM AFFORDABLE MONTHLY COSTS

Set a budget that includes living there

Start with reliable take-home income and ordinary spending, including childcare, transport, debt repayments and irregular bills. Estimate what will change after the move. A cheaper property with a longer commute can cost more each month than you expect.

Test the ongoing cost

Add the proposed mortgage payment, buildings and contents insurance, mortgage protection where required, Local Property Tax, utilities, waste collection and any management fee. Allow for maintenance and replacement of appliances. Keep an emergency reserve outside the money committed to the purchase.

Try living with the proposed housing budget while saving. Rent and regular savings may help demonstrate repayment capacity, but the lender decides what evidence it accepts. Test the budget again with higher mortgage payments, an income interruption or new family costs. There is no single repayment percentage that is right for everyone.

The deposit is only one part of the cash required

The allowances are fictional planning figures, not market quotations. They exclude ongoing insurance premiums and any additional works or unusual costs. Obtain written quotes, including VAT and outlays. The mortgage amount is not an approval.

Avoid counting the same deposit twice

A booking deposit and the later contract deposit normally form part of your total purchase deposit. They are not automatically extra amounts on top of it. Your solicitor should confirm the payment schedule and total funds required.

For ordinary residential purchases, stamp duty is generally 1% on the first €1 million, 2% on the next €500,000 and 6% on the balance above €1.5 million. Special rules can apply. Your solicitor should calculate the taxable amount, particularly for new builds, sites or mixed-use property. [1]

2  SEPARATE THE RULES FROM YOUR OWN APPROVAL

Understand how much you may borrow

Irish mortgage lending is subject to Central Bank limits and the lender’s assessment of your circumstances. Meeting a headline limit does not mean you will be approved for that amount.

The two main limits for first-time buyers

The standard loan-to-income limit for a first-time buyer is four times gross annual income. Gross means before tax. For joint borrowers, the lender assesses the income it accepts from both applicants. Variable pay, overtime or business income may receive different treatment from basic salary. [2]

The standard minimum deposit is 10% of the property value. Lenders generally apply their maximum loan-to-value ratio to the lower of the purchase price and their accepted valuation. If you pay more than the valuation, you may need additional cash. [2]

Example: Both limits must work

Aoife and Dara have combined gross income of €80,000. Four times that income is €320,000. On a €350,000 purchase, a 90% mortgage would be €315,000 and the deposit €35,000. The lower figure governs before the lender’s affordability assessment, which could reduce the loan further. Buying costs need separate funding.

The lender looks beyond income

Expect questions about existing loans, dependants, living costs, savings, rent, age, employment and credit history. The proposed term and your likely income near retirement matter. The property must also be acceptable security for the loan.

Lenders can make a limited amount of lending above the standard Central Bank limits. An exception is discretionary, not an entitlement or a safe basis for a purchase budget. First-time buyer definitions can also differ between lending rules and support schemes; confirm your position if either buyer has owned property before.

Know what approval in principle means

Approval in principle, often called AIP, is a conditional indication of potential borrowing. Its validity and outstanding checks vary. It is not permission to draw down a mortgage or a guarantee that a particular property will be approved.

Keep your lender or broker informed about changes to employment, borrowing, income or the purchase. Check expiry dates and what is needed for a formal loan offer before making commitments. A property search can outlast an initial approval.

3  MAKE THE EVIDENCE EASY TO FOLLOW

Build a clear mortgage application

Request a current checklist from your lender or broker. Requirements differ by lender and employment type, so the list below is a preparation guide rather than a fixed rule about how many months or years to supply.

Show the source of the deposit

Keep a traceable record of savings and large transfers. If family are helping, disclose whether the money is an outright gift or a repayable loan. A loan affects affordability; a gift may require a signed declaration and evidence of the donor’s funds. Tax and ownership consequences should be checked separately.

Check credit information early

Individuals can request their Central Credit Register report free of charge, subject to fair usage. Review it for errors and raise discrepancies promptly. The register does not issue a credit score or approve loans; lenders make their own decisions. [3]

Be open about previous arrears or unusual transactions. Do not take on new borrowing or hide commitments to make an application appear stronger. A car loan, credit agreement or employment change between approval and drawdown can affect the result.

Create one secure application folder

Keep dated copies of the documents submitted, approvals, lender queries and responses. Record outstanding actions and expiry dates. Use verified secure channels for bank statements, identity documents and personal information.

4  UNDERSTAND THE TRADE-OFFS

Compare the mortgage beyond the headline rate

Compare offers using the same loan amount and term. A low opening repayment, a cashback incentive or a familiar provider is not enough to establish which offer suits you.

Fixed and variable rates

A fixed rate generally holds the interest rate steady for an agreed period. It can help with budgeting, but early repayment, switching or larger overpayments may incur charges. Check what happens when the fixed period ends and whether a rate is secured before drawdown.

A variable rate can change, affecting your payment. It may allow more flexibility, but you must be able to cope with increases. A split mortgage combines rate types under the lender’s terms. A green mortgage may depend on the property’s verified energy rating and other eligibility conditions.

The term changes both payments and total interest

Illustrative calculations using monthly capital-and-interest repayments, with the stated rate unchanged for the full term. Rounded payments; interest totals use unrounded payments. Fees, insurance and other costs are excluded. These are not available-rate quotes, APRC figures or predictions. Actual loan calculations may differ.

Ask for a like-for-like comparison

Review the Annual Percentage Rate of Charge, or APRC, and the European Standardised Information Sheet, or ESIS. APRC helps compare overall borrowing costs under stated assumptions; it does not predict future variable rates. Ask which costs are excluded and compare the total amount repayable.

Check cashback conditions, overpayment limits, break charges, fees, the rate after an introductory period and any requirements to hold other products. If using a broker, ask which lenders they cover, what you pay, how they are remunerated and what service continues after approval.

Test a payment you would find uncomfortable

Do not choose a longer term only because the first payment is lower. Consider the extra interest, your age at the end of the loan and whether your budget can absorb a higher payment later.

5  CONFIRM THE SCHEME BEFORE RELYING ON IT

Explore supports without assuming eligibility

Help to Buy

Help to Buy is a tax refund for eligible first-time buyers purchasing or self-building a qualifying new home. The enhanced amount is the lowest of €35,000, 10% of the qualifying value, or the eligible Income Tax and DIRT paid over the previous four years. USC and PRSI are excluded. The current enhanced scheme runs to 31 December 2029. [4]

The qualifying property value must generally be no more than €500,000 and the qualifying mortgage at least 70% of that value. It is not a general support for second-hand purchases. Buyer eligibility, tax compliance and occupation conditions apply; a refund can be clawed back if conditions are not met. Check Revenue’s rules before signing. [5]

First Home Scheme

This provides eligible buyers with shared-equity funding, rather than a grant. Funding can be up to 30% of the qualifying purchase price or build cost, reduced to 20% where Help to Buy is used. Participating lenders, borrowing requirements and local property price ceilings apply. Routes include eligible new builds, self-builds and a specific tenant purchase route; ordinary second-hand purchases are not generally covered. [6]

Service charges apply from year six. The cost of buying back the equity share changes with the relevant property value, and sale or other events may trigger repayment. Review those obligations and restrictions with your solicitor and an independent financial adviser. First Home Scheme funding does not count as the mortgage for the Help to Buy 70% test. [5, 6]

Local authority routes

The Local Authority Home Loan is a mortgage option for eligible applicants unable to obtain sufficient finance from commercial lenders. Income, property, credit and repayment criteria apply. Check the current requirements with the local authority. [7]

Local Authority Affordable Purchase makes specified homes available at a reduced purchase price in return for an equity interest. Availability, allocation and repayment conditions differ from an ordinary purchase. It is distinct from the First Home Scheme. [8]

Use only confirmed funding in your purchase plan

Check the exact property, all joint applicants, application deadlines, occupation rules and permitted combinations. Approval under one scheme does not establish eligibility for another. Grants for renovation or energy upgrades also have separate conditions and may not fund the purchase itself.

6  DEFINE WHAT NEEDS TO WORK EVERY DAY

Choose the home before chasing the listing

A useful shortlist starts with practical requirements. Decide what is essential now, what could change in a few years and what you would be willing to improve. A property can be attractive without fitting your budget or daily routine.

Use three categories

Essentials might include an affordable commute, a ground-floor room, access to family support or enough space for work. Preferences might include a particular layout, parking or garden orientation. Improvements might include decoration, storage or a future extension, but only where cost and permissions make them realistic.

Consider the whole area at different times. Walk the route to transport, check actual travel times and investigate broadband availability. Look at noise, lighting, traffic, local services and planned development. Proximity to a school does not guarantee a place.

Compare asking prices with evidence

The asking price is a marketing figure, not a valuation. Check completed sales through the Residential Property Price Register and compare genuinely similar homes. Its entries need context: condition, size, transaction date and whether the recorded amount excludes VAT can affect a comparison. [9]

Keep your bidding limit separate from the advertised price. Set it using your approved finance, cash budget, professional advice and any work needed. Extra borrowing capacity is not a reason to spend it all.

Choose between new and existing homes deliberately

A new home may offer modern energy performance and less immediate work, but specification, completion timing and estate charges need scrutiny. An existing home lets you assess an established building and neighbourhood, but repairs and upgrades may be significant. Neither category removes the need for independent checks.

A workable search record

For each property, record the address, price, floor area, BER, travel time, service charges, immediate work and unanswered questions. Photograph or measure with permission. Use the same criteria each time so presentation does not overshadow suitability.

Do not assume a future extension, attic conversion or rental arrangement will be permitted. Ask your solicitor and technical adviser about restrictions before allowing an unconfirmed possibility to influence the price.

7  NOTICE ISSUES AND RECORD QUESTIONS

Make every viewing useful

A viewing helps you decide whether to investigate a property further. It is not a substitute for a professional inspection. Bring your checklist, take notes and arrange another visit if an important point remains unclear.

Ask about the things you cannot see

Ask whether extensions or conversions have the necessary documentation, whether flooding or insurance claims have occurred and whether there are known structural or fire-safety issues. Record the answers and pass them to your advisers. An agent’s answer is not a substitute for legal or technical verification.

For rural homes, ask about private water supplies, wastewater systems, shared access and rights over adjoining land. Testing, servicing or specialist reports may be needed. For older homes, consider whether protected-structure status or an architectural conservation area affects changes you hope to make.

Read the energy information properly

The seller generally needs to make a valid Building Energy Rating certificate and advisory report available, subject to exemptions. These indicate assessed energy performance and possible improvements; they are not a structural survey or a guarantee of your bills. Ask a competent professional to cost relevant upgrades. [10]

Leave with three answers

Would this home work for everyday life?

What could make it more expensive than it appears?

Which questions must be resolved before I commit?

8  VALUATION SURVEY AND LEGAL REVIEW DO DIFFERENT JOBS

Commission the checks that protect your decision

A lender valuation

A valuation helps the lender assess the property as security for the mortgage. The lender may specify the valuer and the period for which the report is valid. It is not a detailed assessment of condition and should not be treated as one.

An independent survey

Arrange a suitable inspection by a qualified, insured building surveyor or engineer before becoming legally committed. Agree the scope and limitations. Ask the surveyor to identify urgent defects, further investigations and likely repair priorities. A visual survey may not reveal concealed problems or fully test services.

Use specialist advice where the property warrants it, including damp, drainage, electrical, fire-safety or structural investigations. Ask about relevant risks such as defective concrete blocks or pyrite where the location, construction or evidence gives cause for concern. Obtain realistic quotations before treating a repair as affordable.

Extra checks for apartments and managed estates

Your solicitor should examine the lease or title, the owners’ management company arrangements and relevant records. Ask about service charges, arrears, the sinking fund, insurance, planned major works, defects, litigation and fire-safety issues. Clarify parking, storage and restrictions on use. A low annual charge can conceal inadequate reserves.

Major remedial work may lead to substantial additional contributions from owners. Do not assume that a grant, insurance claim or developer will pay. Ask your advisers how any unresolved issue affects lending, insurance, future costs and resale.

Extra checks for new builds

Review the actual specification, site plan, boundaries and included finishes. Understand the completion provisions and what happens if construction is delayed. Arrange a professional snagging inspection and confirm how defects will be resolved and rechecked. A snag list does not replace structural, legal or completion-document checks.

Put the reports together

Give relevant survey findings to your solicitor and lender promptly. A defect may affect the price, insurability, lender conditions or your decision to proceed. Ask for clarification or further investigation before moving past the point where withdrawal has legal consequences.

9  KNOW THE SALE METHOD AND THE DEPOSIT TERMS

Make an offer without losing your limit

Before bidding, confirm your finance position, the cash you can contribute and your maximum price after allowing for costs and likely repairs. Decide the ceiling while you are calm. The desire to finish a long search can otherwise become an expensive reason to increase it.

For an ordinary private-treaty sale

Make the offer through the agent and explain any material conditions, such as finance and satisfactory legal or survey checks. Confirm what is included in the price and the expected timing. Keep a written record of offers and responses. The agent acts for the seller, so use your own advisers for advice.

When an offer is accepted, the property is usually described as sale agreed. A booking deposit is commonly paid to the agent. Confirm the recipient, obtain a receipt and have your solicitor check the refund terms. In a normal private-treaty sale it is generally refundable before binding contracts, but do not assume every reservation agreement follows that model. [11]

Sale agreed normally leaves further work before either side is bound. The seller may withdraw or accept another offer, and you may incur survey or legal costs even if the purchase does not complete. Keep progressing the checks without mistaking this stage for ownership.

Auctions and online bidding need particular care

A traditional auction can create a binding contract when the successful bid is accepted, with a deposit due immediately. Legal review, survey work and finance must be ready before bidding. An online bidding platform may instead operate as a private-treaty process or use different reservation conditions. Read the actual terms with your solicitor.

The extra bid test

Before increasing an offer, update the cash budget and monthly repayment. Check whether the lender’s valuation would support the price. If the additional amount would consume your repair fund or emergency reserve, the higher bid may not be affordable.

Once the price is agreed

Give your solicitor and lender the property and agent details. Arrange the valuation and survey, progress the formal loan offer and begin insurance enquiries. Ask for a realistic list of outstanding steps rather than relying on an optimistic moving date.

10  USE YOUR SOLICITOR BEFORE YOU SIGN

Understand the legal commitment

Conveyancing is the legal work needed to transfer ownership and register the lender’s security. Instruct your own solicitor early, obtain a written fee estimate including VAT and outlays, and tell them about any deadline or unusual feature of the purchase.

What your solicitor needs to establish

The review should address ownership, title, boundaries, access, rights and restrictions, planning and building documentation, and the conditions of the sale. Your solicitor should also consider relevant survey findings, management-company matters and the requirements of your mortgage lender.

Identify what must be supplied or resolved before closing. This may include certificates for alterations, discharge of an existing mortgage, vacant possession or clarification of a shared driveway. A verbal assurance is not a substitute for the necessary documents or contractual protection.

Before signing the contract

Read the contract with your solicitor and ask them to explain the point at which you become bound, the closing date, deposit, penalties and any special conditions. Confirm the formal loan offer is suitable and that you understand all outstanding conditions. Do not assume that signing subject to finance will protect you: the wording and circumstances must be checked.

Make sure your solicitor understands any support-scheme funding and the timing of its release. If you are dependent on a gift, the sale of another asset or an approval renewal, make that dependency explicit. Withdrawing after a binding contract can cost your deposit and may create further liability.

If you are buying with someone else

Discuss the ownership structure, unequal contributions, responsibility for bills and what happens if one person wants to sell, dies or cannot pay. Ask about a co-ownership agreement and wills where appropriate. Joint borrowers are generally each liable for the full mortgage debt under the loan terms, not simply their intended share.

Protect the transfer of funds

Verify bank details directly with your solicitor using a trusted telephone number already held by you. Treat emailed changes of account details as a reason to stop and check. Do not rely on replying to the email or calling a number contained in it.

11  MATCH EACH POLICY TO THE RISK

Arrange insurance before it becomes urgent

Mortgage protection

Mortgage protection is life cover intended to repay the mortgage if an insured borrower dies, subject to the policy terms. It is generally required for a home mortgage, although legal exceptions exist and lender requirements also matter. Discuss any difficulty obtaining cover early; do not assume an exception guarantees the lender will proceed. [12]

Health information or medical evidence can take time to assess. Answer questions accurately and check the amount, term, persons insured and policy assignment required by the lender. You can usually compare suitable cover from different providers rather than automatically taking the lender’s policy.

Mortgage protection is not automatically income protection or unemployment cover. If illness or an income interruption would leave you unable to pay, discuss that separate risk and what your savings, employment benefits or other cover would provide.

Buildings and contents insurance

Buildings insurance covers specified damage to the structure under the policy terms. It generally needs to be in place to meet mortgage conditions. Base the insured amount on an appropriate rebuilding-cost assessment, not simply the purchase price or market value. Contents insurance protects belongings and has its own limits and exclusions.

Obtain an insurance quotation before becoming bound, particularly for a property with flood history, unusual construction, significant defects or a period of vacancy. Confirm the required start date with your solicitor and lender; the risk may pass before the day you collect the keys.

Apartments and renovation projects

An apartment may have block buildings insurance arranged through the management company. Your solicitor and lender should confirm its adequacy and the documents required. You may still need contents and other personal cover. Major renovation or an unoccupied home may require specialist terms.

Confirm the actual cover

Check excesses, exclusions, flood conditions, unoccupancy limits, accidental damage and any obligations while work is taking place. A policy quotation is not evidence that cover has started. Retain the schedule and written confirmation of the commencement date.

Review insurance after changes to the property or household. Do not cancel existing cover until any replacement is confirmed and relevant lender requirements have been satisfied.

12  CONFIRM THE CONDITIONS AND THE MONEY

Bring the purchase through to closing

Drawdown is the release of mortgage funds. It happens only when the lender’s conditions are met. A signed offer or a provisional date does not, by itself, make the funds available.

Keep the final conditions visible

Check that the loan offer and valuation remain valid, any updated income evidence is supplied, insurance is active when required and legal conditions are satisfied. Avoid new finance commitments and notify the lender of material changes. Confirm the release process for any approved buyer support.

Your solicitor should provide a completion statement showing the purchase balance, taxes, fees, outlays and adjustments. Check that earlier deposits are credited correctly. Allow time for transfer limits, bank processing and verification of the source of funds.

Inspect before completion

Arrange a final viewing close to closing where possible. Check the agreed contents, vacant possession, damage since the earlier visit and the status of agreed works or snagging. Bring any discrepancy to your solicitor before completion; do not rely on fixing a dispute after the money has been transferred.

For a new build, confirm the relevant completion documentation, utilities and access arrangements through your advisers. A home appearing finished does not necessarily mean all legal and lender requirements have been met.

Keys follow legal completion

The solicitor coordinates the transfer of funds and documents with the seller’s solicitor. Collect keys only when release has been authorised. Ask what documents will follow, including confirmation of stamp duty and registration arrangements. The final registration process can continue after you have moved in.

Keep the moving plan flexible

Do not give notice on rented accommodation or make non-refundable moving commitments solely on the basis of sale agreed. Check your tenancy notice obligations and discuss a realistic completion date with your solicitor. Budget for a possible overlap or delay.

On handover, obtain all keys, alarm details, appliance information, heating instructions and management-company contacts. Take dated meter readings and photographs. Keep the completion statement and important documents in a secure, backed-up folder.

13  PLAN THE FIRST WEEK AND THE FIRST YEAR

Move in with a manageable checklist

When the completion arrangements are sufficiently certain

Book insured movers or arrange suitable vehicle hire and help. Check cancellation terms, access, parking and any apartment move-in restrictions. Plan for children or pets, declutter before packing and label boxes by destination room. Keep identity papers, medication and valuables with you.

Arrange electricity, gas where relevant, broadband and waste services. Organise post redirection and update your address with relevant financial, government and service providers. If you are renting, follow the required notice and handover process and retain evidence of the property’s condition.

On moving day

Record closing readings at the old home and opening readings at the new one, with photographs. Locate the water stopcock, electricity consumer unit and heating controls. Check that doors and windows secure properly, obtain all access devices and arrange appropriate changes to locks or alarm codes.

Keep an essentials bag accessible

Medication, chargers, drinking water, simple food, toiletries, a change of clothes, basic cleaning supplies, bedding, a torch and the important contact numbers. Pack separately for children or pets where needed.

During the first month

Confirm the first mortgage payment date and amount, including any initial adjustment. Check insurance schedules and utility accounts. Test smoke and carbon monoxide alarms and arrange appropriate servicing or competent safety checks. Follow up outstanding snags in writing and keep a dated record.

Update the budget using real bills. Prioritise safety and essential repairs before cosmetic work. Keep a cash reserve for surprises, even if that means furnishing gradually. Discuss wills and protection if ownership or family circumstances have changed.

Set reminders for the year ahead

Record insurance renewal dates, the fixed-rate end date, tax obligations, service-charge payments and maintenance tasks. If you used a buyer scheme, retain its conditions and key dates too. Review mortgage options well before a fixed period ends rather than allowing the next rate to arrive unnoticed.

If payments become difficult, contact the lender promptly and seek free, independent help from MABS. Early engagement can give you more options than waiting for missed payments to accumulate. [13]

14  USE THIS FOR EACH SERIOUS PROPERTY

Your purchase budget and decision record

Property address: ______________________

Date reviewed: ________________________ 

Proposed price: _______________________

Monthly mortgage: €________ 
Insurance: €________ 
Property tax: €________
Management fee: €________ 
Maintenance: €________ 
Other bills: €________
Monthly amount left after all commitments: €_______________

Before increasing an offer or signing

Record the answer and who verified it for each item below.

Finance and scheme conditions: ___________________________________
Survey findings and costed repairs: _________________________________
Title planning access and boundaries: _______________________________
Insurance availability and start date: ________________________________
Contract conditions and binding point: ______________________________
Total cash needed and payment dates: _______________________________
Outstanding questions and next action: ______________________________

A clear stopping point
Do not move ahead because you have already spent money or invested time. An unresolved funding gap, serious defect or legal issue is a reason to pause and seek advice.

15  RESOLVE UNCERTAINTY BEFORE COMMITTING

Questions first-time buyers often ask

Can I buy with only a 10 per cent deposit

The standard deposit rule is a starting point. The lender may approve a smaller loan, or a low valuation may require more cash. Buying costs and an emergency reserve also need funding. Check the complete budget rather than the deposit alone.

Can family give me the deposit

A lender may accept a documented gift subject to its rules. Disclose it, keep evidence of the source and clarify that it is not repayable if it is described as a gift. Tax consequences and any intended ownership interest need separate advice.

Is a mortgage valuation enough

No. It serves the lender’s security assessment. Commission your own appropriate survey and follow up any recommended specialist checks before becoming legally committed.

Can I pull out after sale agreed

Usually, in an ordinary private-treaty sale before a binding contract, but booking terms and circumstances matter. Ask your solicitor. Once bound, withdrawal can have serious financial consequences. Auctions can bind you much earlier.

How long will the purchase take

There is no reliable universal timeframe. Title problems, probate, linked sales, new-build delays, finance conditions and missing documents can all slow progress. Ask each adviser what remains outstanding and who owns the next action.

Does a good BER mean the home is in good condition

No. Energy performance and building condition are different. A BER does not establish structural soundness, planning compliance or the absence of damp. Use both the energy information and the appropriate professional checks.

What if the valuation is below my agreed price

The lender may reduce the loan. Revisit the price, funding gap and affordability with your advisers. Do not assume the seller will reduce the price or that the lender will disregard the valuation.

16  KEEP THE COMMITMENTS CLEAR

Useful terms and important information

AIP  Approval in principle: a conditional indication of borrowing capacity.

APRC  Annual Percentage Rate of Charge: a measure of borrowing cost under stated assumptions.

Conveyancing  The legal process of transferring property ownership.

Drawdown  The release of mortgage funds once lender conditions are satisfied.

Equity  The value of an ownership interest. A shared-equity provider can retain an interest alongside your own.

LTV  Loan to value: the mortgage as a percentage of the relevant property value.

Sale agreed  An accepted offer that usually precedes binding contracts in a private-treaty sale.

Snagging  Inspection of a new home to identify defects or unfinished work for correction.

Mortgage and ownership risks

Important warning
Warning: If you do not keep up your repayments you may lose your home.

Interest-rate changes can increase repayments. Early repayment or switching during a fixed-rate period can result in charges. Missed payments can affect your credit record and future borrowing. Property values can fall, and the proceeds of a sale may be less than the outstanding mortgage and selling costs.

Shared-equity funding creates obligations separate from the mortgage. A rise in property value can increase the amount needed to buy back an equity share. Service charges, repayment triggers and restrictions must be understood before proceeding.

Scope of this guide

This is a generic educational guide for first-time home buyers in the Republic of Ireland. It does not recommend a lender, insurer, mortgage, property or support scheme, and is not personalised financial, legal, tax or surveying advice. It does not represent a lending decision or guarantee eligibility for a scheme.

Examples and cost allowances are illustrative, not quotations. Eligibility, rates, taxes, terms and legal requirements can change. Information was checked on 4 October 2026. Verify the current position with the relevant official source and your professional advisers before acting. Your contract, loan offer and policy documents determine the specific terms that apply.

The guide does not replace a solicitor’s review, independent property inspection or assessment of your ability to repay. Nothing in it limits your rights under applicable law.

17  CHECK CURRENT DETAILS AT THE SOURCE

Official sources and useful contacts

The numbered references support the rules and consumer information in this guide. Use the links to check the detail relevant to your purchase. Accessed 4 October 2026.

1  Revenue  Stamp duty rates

2  Central Bank of Ireland  Mortgage measures

3  Central Credit Register  Your report and rights

4  Revenue  Help to Buy refund amount

5  Revenue  Help to Buy qualifying property

6  First Home Scheme  Eligibility and obligations

7  Local Authority Home Loan  Information centre

8  Government of Ireland  Local Authority Affordable Purchase

9  Property Services Regulatory Authority  Property Price Register

10  SEAI  BER information

11  CCPC  From approval to closing

12  CCPC  Mortgage terms explained

13  MABS  Free money and debt advice

Keep your own contact list

Solicitor: ____________________________________________
Lender or mortgage broker: _______________________________
Surveyor or engineer: ___________________________________
Insurance contact: _____________________________________
Estate agent: _________________________________________

Verify professional credentials and contact details independently. Keep sensitive account details and identity documents in a secure place rather than in a shared checklist.