Key borrowing limits (Central Bank of Ireland)
- Loan-to-Income (LTI): First-time buyers can generally borrow up to 4 times gross annual income (or combined income for joint applicants). For example, with €100,000 combined income, you could borrow up to €400,000 under this rule.
- Other buyers: The limit is typically 3.5 times income.
- Loan-to-Value (LTV): You are usually required to provide a deposit of at least 10% of the property’s purchase price, so you can borrow a maximum of 90% of the property’s value.
Exemptions
Lenders have limited discretion to offer exemptions to these rules for a certain number of applicants each year, which may allow borrowing above the standard 4× income limit. Your lender or broker can advise if this might apply to you.
What else affects your approval
Beyond these limits, lenders assess your overall financial position:
- Existing debt (e.g. car loans, personal loans) reduces how much you can borrow.
- Affordability: Lenders check that monthly repayments stay within a sustainable share of your disposable income.
- Financial habits: Consistent savings, a good credit history, and stable employment all support your application.
Useful resources
- Most Irish banks (e.g. Bank of Ireland, AIB, PTSB) and broker websites offer free mortgage calculators to estimate borrowing power.
- Help to Buy and the First Home Scheme can help with your deposit or bridge funding gaps—check if you qualify.
- For official rules and updates, see the Central Bank of Ireland website.
