Mortgage Calculator (Ireland)
Irish monthly mortgage repayment — Central Bank LTI/LTV rules, cashback offers decoded and switching savings.
Formula
Disclaimer: Excludes valuation/legal fees, cashback effects and rate roll-offs after fixed periods. Not financial advice.
Disclaimer: This tool is for general informational and estimation purposes only and is not professional financial, tax, accounting or legal advice. All figures are estimates — verify with a qualified professional before making decisions. Read the full disclaimer.
Need mortgage calculator results fast? Skip the spreadsheet and get a clear, defensible answer in one step — free, private and instant, recalculating live as you change any input.
About Mortgage Calculator (Ireland)
Irish mortgage capacity is rule-bound before it's bank-bound: Central Bank macroprudential caps allow first-time buyers 4× gross income (movers 3.5×) and 90% LTV, with each bank holding limited exemption slots that go early in the calendar year. The defaults — €300,000 at 4.1% over 30 years against €90,000 income — sit at 3.33×, inside every cap, and the badge above recomputes as you type. The Irish market's quirk is cashback: 2–3% back at drawdown headlines the ads, frequently attached to rates 0.3–0.6% above the cheapest lenders — on the default loan, a 3% (€9,000) cashback against +0.5% of rate costs you roughly €18,000 of extra interest over a decade. Cashback is a loan, not a gift; this calculator's totals expose it in one comparison. Switching is Ireland's under-used money printer: legal fees ~€1,500 against routinely €2,000–4,000/year of savings for borrowers sitting on legacy rates, and serial switching between fixed periods is legal and increasingly normal. Check your BER too — green mortgage rates (typically B3 or better) shave another 0.2–0.4%, and an attic-insulation grant can literally re-price your loan.
How to use Mortgage Calculator (Ireland)
- 1Enter Mortgage amount, Interest rate (%), Term (years), Gross household income into the Mortgage Calculator.
- 2The result is computed automatically using Standard amortization ; LTI = mortgage ÷ gross income (CBI cap: 4× first-time buyers, 3.5× movers) — there is no button to press; it updates live as you type.
- 3Change any input to model a different scenario, then use “Copy result link” to share the exact numbers.
Why use Mortgage Calculator (Ireland)?
- ✓Computes mortgage calculator instantly with the correct formula — no spreadsheet needed
- ✓100% free and unlimited, with no sign-up, login or paywall
- ✓Runs entirely in your browser, so the figures you enter are never uploaded or stored
- ✓Shows the formula, a live worked example and references so you can defend the number
Frequently asked questions
How do the Central Bank exemptions work?+
Banks may exceed LTI (up to a share of their lending book) or LTV for limited borrowers each year — typically strong incomes with clean records, and allocations exhaust by Q3-Q4. If your multiple shows just above cap here, apply early in the year, to multiple lenders, and have your broker say the word 'exemption' explicitly.
Is a cashback mortgage ever worth it?+
Occasionally — if its rate matches the market's best anyway, or you'll verifiably switch again right after the clawback period. Otherwise the rate premium repays the cashback several times over a 30-year term. Compare total cost over 5 years (payments − cashback) across offers; this calculator gives each candidate's payment in seconds.
What does switching actually involve in Ireland?+
New lender approval, a solicitor (~€1,200–1,800), valuation (~€150–185), and 6–10 weeks of patience — there's no penalty on variable rates and often modest break fees mid-fix (banks must quote them on request, funding-cost based, sometimes near zero). At €2,000+/year of savings, the process pays its own fee in months.
Fixed or variable in the Irish market?+
Ireland fixes short-to-medium (1–10 years; longer 'green' fixes growing). Variable rates here are oddly expensive — unlike most of Europe — so the standard play is rolling medium fixes, re-shopping at each expiry. Longer fixes buy certainty for family-budget years; just check break-fee mechanics before signing past 5 years.
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