Key Post Mortgage Rates tables for all lenders

Brendan Burgess

Brendan Burgess

Founder
Messages
52,117
This thread contains the mortgage rates for all lenders in the same format.

When choosing a lender, it's important not to just pick the one with the lowest rate today.

I would recommend AIB or Avant as the lenders most likely to be the best value over the full term of your mortgage.

AIB has a long history of treating customers fairly when it comes to mortgage rates
  1. They allow existing customers to avail of the best rates offered to existing customers
  2. They have a comparatively low variable rate
  3. They do not engage in gimmicks to trick customers.
Avant does not have a track record in Ireland. However they shook up the Irish mortgage market by having rates much lower than the existing lenders when they arrived.
  1. I would expect their rates to be competitive over the longer term
  2. They cap the early repayment fee at 2%
  3. They allow 10% overpayment of a fixed rate each year without penalty.
You should also check if your Credit Union does mortgages. You will find a list of those who do here.


I would avoid Bank of Ireland and ptsb as they attract new customers with tricks but are likely to be poor value over the full term of your mortgage.

  1. They attract new customers with lower rates which they do not allow existing customers to avail of
  2. They keep their variable rates artificially high
    1. Many customers default to variable rates when their fixed rates end and don't do anything about it
    2. High variable rates mean you are forced to fix which means you are , in effect, forced to stay with them for another few years and stuck on a higher rate than new customers
  3. They engage in all sorts of gimmicks to trick customers
    1. For example, Bank of Ireland offers a green discount to new customers. But when the fixed rate period is up, you are an existing customer and no longer qualify for the green discount.
    2. Some of their rates for large mortgage apply to new mortgages only, so you get that rate only for the firs period of fixing.
  4. ptsb, in particular, has a long history of exploiting customer vulnerability.
    1. They offered attractive looking "discounted trackers" to customers at a rate of 0.8% above the ECB rate for the first year. When the first year was up, they were put on ECB +3.25%.
    2. Customers who were entitled to trackers when fixed rates ended, were offered variable rates pitched just below the tracker rate. Most customers opted for these, little knowing that once they were off their trackers, ptsb hiked the variable rate.
    3. During the financial crisis, when AIB and BoI had a standard variable rate of 3% and 3.5% , ptsb were charging over 6% and most customers could not switch as the market had frozen.
    4. For a long time, ptsb did not even allow existing customers to fix at any rate, forcing them to pay high variable rates. And when they did introduced fixed rates for existing customers, they were substantially higher than the rates on offer to new customers.
If you take out a mortgage with ptsb you only have yourself to blame if you find yourself in a few years time paying a very high rate and unable to do anything about it.
 
Last edited:
Avant


Fixed rate Term<60%<70%<80%<90%
Variable3.75%3.75%3.95%3.95%
3 years3.85%3.9%4.0%4.05%
4 years3.95%4.0%4.05%4.1%
5 years3.95%4.0%4.05%4.1%
7 years3.95%4%4.05%4.1%
10 years3.95%4%4.05%4.1%

  1. You can overpay by 10% of the remaining balance each year without penalty
  2. The early redemption fee is capped at 2% of your remaining balance
  3. The early redemption fee can be waived if you move home and take out a new mortgage with Avant
  4. Avant pays switchers €1,500 towards the costs of switching
  5. The rate quoted in the loan offer is guaranteed for three months (Check : Does this apply just to switchers?)
  6. You cannot apply directly to Avant. You must go through one of their mortgage brokers.
Evaluation
Avant shook up the mortgage market in Ireland by offering lower rates than the mainstream banks. The other banks either cut rates or held off increasing them due to the pressure from Avant. It is likely that when your fixed rate ends, the offering from Avant will be competitive.
 
Last edited:
Avant One Mortgage

This is a very unusual mortgage in that you fix the rate for the term of the mortgage. So it's not a 30 year mortgage with the rate fixed for 15 years. The 15 year column is for a 15 year term and the rate is fixed for that term.

Mortgage term<60%<70%<80%<90%
Up to 15 years3.95%4%4.05%4.1%
Up to 20 years3.95%4%4.05%4.1%
Up to 25 years3.95%4%4.05%4.1%
Up to 30 years 3.95%4%4.05%4.1%

  1. You can overpay by 10% of the remaining balance each year without penalty
  2. The early redemption fee is capped at 2% of your remaining balance
  3. The early redemption fee can be waived if you move home and take out a new mortgage with Avant
  4. Avant pays switchers €1,500 towards the costs of switching
  5. The rate quoted in the loan offer is guaranteed for three months (Check : Does this apply just to switchers?)
  6. You cannot apply directly to Avant. You must go through one of their mortgage brokers.
 
Last edited:
AIB
1688121605615.png

1688121626437.png


  1. AIB pays switchers €2,000
  2. AIB does not have any caps on their break fees. However, they do have two ways of calculating it and you get charged the lower of the two figures.


Evaluation
AIB is a fair lender. They do not discriminate between new and existing borrowers. In other words, when your fixed rate ends, you will be able to get the same rates as offered to new customers. For example, when they introduced a High Value mortgage rate, existing customers qualified for it.

Their variable rate has been consistently lower than the other lenders. This is important because it means that if you do nothing when your fixed rate ends, you won't default to an artificially high variable rate as you would with permanent tsb or Bank of Ireland.
 
Last edited:
Haven is a subsidiary of AIB but has its own pricing policies and terms and conditions. You apply to Haven through a mortgage broker.

1688122620380.png


  1. Switchers are paid €2,000 cash back if their mortgage is less than €250,000
  2. Switchers are paid €5,000 cash back if their mortgage is €250,000 or more but not if they switch to the Green Rate
 
Last edited:
EBS is a subsidiary of AIB but has very different pricing policies and terms and conditions.

1688123502462.png

  1. EBS gives 2% cash back up front and 1% in five years, but excluding:
    1. The EBS Green 4 Year Fixed Rate
    2. Variable rates
    3. 1 year fixed rates
  2. The 1% cash back is subject to the following conditions
    1. Have made all your mortgage repayments in full and on time
    2. Still living in the property
 
Last edited:
permanent tsb


<60%<80%>80%
Variable3.8%3.9%4.3%
2 year fixed4.75%4.85%5.1%
4 year fixed new customers only4.4%4.5%4.75%New customers only, no cash back
5 year fixed4.85%4.95%5.2%
Green 5 year fixed4.15%4.25%4.5%
Green 7 year fixed4.85%4.95%5.2%
>€250k , 3 year fixed4.55%4.65%4.9%
>€250k, 5 year fixed4.65%4.75%5%
>€250k , Green 5 year fixed3.95%4.05%4.3%

ptsb has announced an increase in the fixed rates effective 31 July. This table will be updated when their website is updated with the new rates.
  1. ptsb has lower variable rates for <50% and <70% but I have omitted them so that the table won't be too unwieldy.
  2. ptsb gives new customers 2% cash back on all rates other than the 4 year fixed rate loan
Permanent TSB's rates have historically been significantly higher than the "non-cashback lenders". If this practice continues, you will be significantly worse off with PTSB over the long term compared to choosing a non-cashback lender (even after accounting for PTSB's cashback).

Some of PTSB's rates are currently competitive but they might not be by the time you draw down your mortgage. That is why you are strongly recommended to apply to several lenders at the same time.
  • "≥€250k" is the "High Value" mortgage and means that you are only eligible for this rate if your mortgage balance is at least €250k
    • Even if your mortgage is more than €250k at the moment, it won't be forever – and so there will come a point in the future when that generous discount on the interest rate won't be available to you if you go to re-fix with PTSB
  • The 4-year fixed rate is only available to new customers and does not offer cashback


Cashback (available to new customers only, but not available on the 4-year fixed rate):
  • 2% of the mortgage balance at drawdown
  • 2% of the monthly mortgage repayments back in cash every month until the end of 2027 (provided you open an Explore account, which has a €6 monthly fee) This is worth about 1/10th of 1% or €120 a year on a mortgage of €100,000.
Permanent TSB have a useful feature in relation to mortgage overpayments:
  • Overpay by as much as you like each month without penalty, and this builds up as a credit on your account
  • You can use this credit to take a payment holiday or to reduce the monthly repayments (or to pay off part of the principal at the end of the fixed period)
  • You are only charged mortgage interest on the net balance, i.e., on the mortgage balance after the credit has been subtracted
  • See this thread for more details
 
Last edited:
Bank of Ireland

New customers only. Bank of Ireland has special rates to attract new customers but existing customers cannot avail of them.
The website asks you to "Select Mortgage Type" and gives the options of Switcher, First Time Buyer and Mover - but as far as I can see, the rates are the same for all new customers.

<60%<80%>80%
Variable3.9%4.2%4.5%+ 3% cash back
1 or 2 year fixed4.65%4.65%4.65%+ 3% cash back
3 or 5 year fixed, new customers4.75%4.75%4.75%+ 3% cash back
4 year fixed, >€250,0003.95%3.95%3.95%new customers only, no cash back
5 year fixed, >€250,0004.25%4.25%4.25%new customers only, no cash back
7 year fixed, >€250,0004.3%4.3%4.3%new customers only, no cash back
10 year fixed, new customers4.8%4.8%5.25%+ 3% cash back

Bank of Ireland increased their rates on 26th July. I find their website confusing. So verify this information for yourself. (and let me know if any of the information is wrong.)
  1. Green rates: a 0.3% discount on the fixed rate but for new customers only. After your fixed rate is up, you no longer qualify for the green rate.
  2. If you are a First Time Buyer and you open a Mortgage Saver account with Bank of Ireland and save at least €200 a month and a minimum of €5,000 for 6 consecutive months, you will get €2,000 interest if you take out a mortgage with BoI within 30 months.
  3. You can overpay your fixed rate mortgage without penalty up to €65 a month.
  4. If you move home, you can bring your rate with you as long as your new mortgage is drawn down within 6 months of redeeming the old mortgage.
  5. You can take a 3 month payment break up to 3 times over the life of the mortgage - subject to conditions e.g. your mortgage must be drawn down at least two years, and there must be at least 12 months between payment breaks.

Bank of Ireland's rates have historically been higher than the "non-cashback lenders". If this practice continues, you will be significantly worse off with BOI over the long term compared to choosing a non-cashback lender (even after accounting for BOI's cashback).

Some of BOI's rates are currently competitive but they might not be by the time you draw down your mortgage. That is why you are strongly recommended to apply to several lenders at the same time.

Bank of Ireland discriminate on interest rates between new and existing customers, i.e., their best rates are not available to their existing customers. None of their high-value ("≥€250k") or green rates are available to their existing customers, and so these "discounts" won't be available to you when your initial fixed-rate period ends.

Cashback (available to new customers only, but not available on any of the rates marked "≥€250k" or "≥€250k and green" in the above tables):
  • 2% of the mortgage balance at drawdown
  • 1% of the mortgage balance after 5 years (provided you still have your mortgage with Bank of Ireland)
 
Last edited:
Bank of Ireland

Existing customers only

Existing customers cannot avail of the green mortgage discount or the lower rates offered for mortgages over €250k

<60%<80%>80%
Variable3.9%4.2%4.5%
1 or 2 year fixed4.15%4.15%4.15%
3 or 5 year fixed, existing customers4.25%4.25%4.25%
10 year fixed, existing customers4.55%4.55%4.75%

Bank of Ireland increased their rates on 26th July. I find their website confusing. So verify the rates for yourself.
 
Last edited:
Mark Coan said:
Hi Brendan, this internal moneysherpa doc which we developed based on an original lender report might be helpful.
Click to expand...

@Mark Coan

That is way too complicated. And you would not be able to edit the post to keep it up to date.

I am reluctant to provide a link to something, where it's constantly interrupted by pop up ads.

Brendan
 
@Brendan Burgess challenge accepted! As we were updating the data for the BoI increases I asked the team to simplify the number of LTV bands which has reduced the rows by around 20% without losing any key data. The updated table includes every PDH rate in the market for every LTV band 60%-90%, side by side making it easy to compare for each potential user. It's still quite big, but the market has a lot of rates so I don't think we can do much more to simplify, hope people find it useful! We keep this updated live with any changes and I'm happy to provide updates here for askaboutmoney.com forum users.

ProviderAvant MoneyHavenBank of IrelandPTSBFinance IrelandICSAIBEBS
Green>€250kGreen >€250KGreen>€250kGreen >€250KGreen>€250k
3 year <60%3.60%4.75%4.75%4.45%N/AN/A4.25%N/A4.05%N/A6.20%5.75%4.70%N/A5.00%
3 year <70%3.65%4.75%4.75%4.45%N/AN/A4.35%N/A4.15%N/A6.25%N/AN/AN/A5.00%
3 year <80%3.75%4.75%4.75%4.45%N/AN/A4.35%N/A4.15%N/A6.25%5.80%N/AN/A5.00%
3 year <90%3.80%4.75%4.75%4.45%N/AN/A4.60%N/A4.40%N/A6.60%5.95%N/AN/A5.00%
4 year <60%3.75%3.65%*N/AN/A3.95%3.65%3.90%N/AN/AN/AN/AN/A4.60%N/A4.20%3.75%
4 year <70%3.80%3.65%*N/AN/A3.95%3.65%4.00%N/AN/AN/AN/AN/A4.75%N/A4.35%3.75%
4 year <80%3.85%N/AN/AN/A3.95%3.65%4.00%N/AN/AN/AN/AN/AN/AN/AN/A3.75%
4 year <90%3.85%N/AN/AN/A3.95%3.65%4.25%N/AN/AN/AN/AN/A4.85%N/A4.55%3.75%
5 year <60%3.80%4.85%4.75%4.45%4.25%3.95%4.35%4.15%4.15%3.95%6.00%5.50%N/AN/A5.10%
5 year <70%3.85%4.85%4.75%4.45%4.25%3.95%4.45%4.25%4.25%4.05%6.05%5.55%4.80%3.75%5.10%
5 year <80%3.90%4.85%4.75%4.45%4.25%3.95%4.45%4.25%4.25%4.05%6.05%5.70%4.80%3.75%5.10%
5 year <90%3.95%4.85%4.75%4.45%4.25%3.95%4.70%4.50%4.50%4.30%6.45%5.79%4.85%3.85%5.10%
7 year <60%3.95%4.90%N/AN/A4.30%4.00%4.55%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <70%4.00%4.90%N/AN/A4.30%4.00%4.65%N/AN/AN/AN/AN/A5.05%N/A5.15%N/A
7 year <80%4.05%4.90%N/AN/A4.30%4.00%4.65%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <90%4.10%4.90%N/AN/A4.30%4.00%4.90%N/AN/AN/AN/AN/A5.15%N/AN/A
10 year <60%3.95%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/A5.20%N/AN/AN/A
10 year <70%4.00%5.15%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year <80%4.05%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year
<90%		4.10%5.15%5.25%4.95%N/AN/AN/AN/AN/AN/AN/AN/A5.30%N/AN/AN/A
Compiled by moneysherpa.ie Correct as of 26/07/23.
 
Mark Coan said:
@Brendan Burgess challenge accepted! As we were updating the data for the BoI increases I asked the team to simplify the number of LTV bands which has reduced the rows by around 20% without losing any key data. The updated table includes every PDH rate in the market for every LTV band 60%-90%, side by side making it easy to compare for each potential user. It's still quite big, but the market has a lot of rates so I don't think we can do much more to simplify, hope people find it useful! We keep this updated live with any changes and I'm happy to provide updates here for askaboutmoney.com forum users.

ProviderAvant MoneyHavenBank of IrelandPTSBFinance IrelandICSAIBEBS
Green>€250kGreen >€250KGreen>€250kGreen >€250KGreen>€250k
3 year <60%3.60%4.75%4.75%4.45%N/AN/A4.25%N/A4.05%N/A6.20%5.75%4.70%N/A5.00%
3 year <70%3.65%4.75%4.75%4.45%N/AN/A4.35%N/A4.15%N/A6.25%N/AN/AN/A5.00%
3 year <80%3.75%4.75%4.75%4.45%N/AN/A4.35%N/A4.15%N/A6.25%5.80%N/AN/A5.00%
3 year <90%3.80%4.75%4.75%4.45%N/AN/A4.60%N/A4.40%N/A6.60%5.95%N/AN/A5.00%
4 year <60%3.75%3.65%*N/AN/A3.95%3.65%3.90%N/AN/AN/AN/AN/A4.60%N/A4.20%3.75%
4 year <70%3.80%3.65%*N/AN/A3.95%3.65%4.00%N/AN/AN/AN/AN/A4.75%N/A4.35%3.75%
4 year <80%3.85%N/AN/AN/A3.95%3.65%4.00%N/AN/AN/AN/AN/AN/AN/AN/A3.75%
4 year <90%3.85%N/AN/AN/A3.95%3.65%4.25%N/AN/AN/AN/AN/A4.85%N/A4.55%3.75%
5 year <60%3.80%4.85%4.75%4.45%4.25%3.95%4.35%4.15%4.15%3.95%6.00%5.50%N/AN/A5.10%
5 year <70%3.85%4.85%4.75%4.45%4.25%3.95%4.45%4.25%4.25%4.05%6.05%5.55%4.80%3.75%5.10%
5 year <80%3.90%4.85%4.75%4.45%4.25%3.95%4.45%4.25%4.25%4.05%6.05%5.70%4.80%3.75%5.10%
5 year <90%3.95%4.85%4.75%4.45%4.25%3.95%4.70%4.50%4.50%4.30%6.45%5.79%4.85%3.85%5.10%
7 year <60%3.95%4.90%N/AN/A4.30%4.00%4.55%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <70%4.00%4.90%N/AN/A4.30%4.00%4.65%N/AN/AN/AN/AN/A5.05%N/A5.15%N/A
7 year <80%4.05%4.90%N/AN/A4.30%4.00%4.65%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <90%4.10%4.90%N/AN/A4.30%4.00%4.90%N/AN/AN/AN/AN/A5.15%N/AN/A
10 year <60%3.95%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/A5.20%N/AN/AN/A
10 year <70%4.00%5.15%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year <80%4.05%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year
<90%		4.10%5.15%5.25%4.95%N/AN/AN/AN/AN/AN/AN/AN/A5.30%N/AN/AN/A
Compiled by moneysherpa.ie Correct as of 26/07/23.
Click to expand...
not finding that simplification useful as it is not accurate for example for AIB
e.g. AIB 3 year <=50% is 4.55%, also all Variable rates for all lenders are missing and rates for one year and two year fix are missing as well
one has take the variable rate definitely into consideration if one decides lender and wherever to fix or not
 
Last edited:
@Merowig completely agree on the variable/follow on rates, table below. We dropped the 1&2 yr and the 50% LTV as they add a lot more rows for very little more value as we find them to be niche products. Difficult to get the blend between completeness and conciseness right, but for 90% of people the intro rate table and this follow on table will work. We also have aprc tables that blend the two on the moneysherpa.ie site, but I know some users on this forum don't like these so I haven't used them here.

Follow on Variable RateAvant MoneyICS MortgagesFinance IrelandHaven MortgagesAIB MortgageUlster BankEBS MortgagePermanent TSBBank of Ireland
Up to 50% LTV3.50%6.20%6.40%3.75%3.75%3.50%4.15%3.80%3.90%
Up to 60% LTV3.50%6.95%6.20%3.95%3.95%3.50%4.15%4.10%3.90%
Up to 70% LTV3.50%6.95%6.20%3.95%3.95%3.70%4.15%4.20%4.20%
Up to 80% LTV3.70%6.20%6.20%4.15%3.95%3.70%4.15%4.25%4.20%
Up to 90% LTV3.70%6.20%5.15%4.15%4.15%3.90%3.70%4.30%4.50%
*Probable follow on variable rates post fixed period based on current variable rates by provider, rates updated 31/06/23 PTSB rates effective July ’23 AIB,EBS,Haven rates effective Aug ’23
 
Table updated with PTSB Increases from yesterday...

ProviderAvant MoneyHavenBank of IrelandPTSBFinance IrelandICSAIBEBS
LTV 60%-90%Green>€250kGreen >€250KGreen>€250kGreen >€250KGreen>€250k
3 year <60%3.60%4.75%4.75%4.45%N/AN/A4.75%N/A4.55%N/A6.20%5.75%4.70%N/A5.00%
3 year <70%3.65%4.75%4.75%4.45%N/AN/A4.85%N/A4.65%N/A6.25%N/AN/AN/A5.00%
3 year <80%3.75%4.75%4.75%4.45%N/AN/A4.85%N/A4.65%N/A6.25%5.80%N/AN/A5.00%
3 year <90%3.80%4.75%4.75%4.45%N/AN/A5.10%N/A4.90%N/A6.60%5.95%N/AN/A5.00%
4 year <60%3.75%3.65%*N/AN/A3.95%3.65%4.40%N/AN/AN/AN/AN/A4.60%N/A4.20%3.75%
4 year <70%3.80%3.65%*N/AN/A3.95%3.65%4.50%N/AN/AN/AN/AN/A4.75%N/A4.35%3.75%
4 year <80%3.85%N/AN/AN/A3.95%3.65%4.00%N/AN/AN/AN/AN/AN/AN/AN/A3.75%
4 year <90%3.85%N/AN/AN/A3.95%3.65%4.75%N/AN/AN/AN/AN/A4.85%N/A4.55%3.75%
5 year <60%3.80%4.85%4.75%4.45%4.25%3.95%4.85%4.15%4.65%3.95%6.00%5.50%N/AN/A5.10%
5 year <70%3.85%4.85%4.75%4.45%4.25%3.95%4.95%4.25%4.75%4.05%6.05%5.55%4.80%3.75%5.10%
5 year <80%3.90%4.85%4.75%4.45%4.25%3.95%4.95%4.25%4.75%4.05%6.05%5.70%4.80%3.75%5.10%
5 year <90%3.95%4.85%4.75%4.45%4.25%3.95%5.20%4.50%5.00%4.30%6.45%5.79%4.85%3.85%5.10%
7 year <60%3.95%4.90%N/AN/A4.30%4.00%4.85%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <70%4.00%4.90%N/AN/A4.30%4.00%4.95%N/AN/AN/AN/AN/A5.05%N/A5.15%N/A
7 year <80%4.05%4.90%N/AN/A4.30%4.00%4.95%N/AN/AN/AN/AN/AN/AN/AN/A
7 year <90%4.10%4.90%N/AN/A4.30%4.00%5.20%N/AN/AN/AN/AN/A5.15%N/AN/A
10 year <60%3.95%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/A5.20%N/AN/AN/A
10 year <70%4.00%5.15%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year <80%4.05%5.15%5.05%4.75%N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
10 year
<90%		4.10%5.15%5.25%4.95%N/AN/AN/AN/AN/AN/AN/AN/A5.30%N/AN/AN/A
Compiled by moneysherpa.ie Correct as of 1/08/23.
 
Hi Mark
Why don't you have variable rates in your table?

BoI and ptsb have different rates for new and existing customers. That is not reflected in the table?

Brendan
 
You must log in or register to reply here.
Back
Top