Irish mortgage rates differ between lenders and depend on the fixed term, loan amount, loan-to-value ratio and, for some products, the energy rating of the property.
Recent changes from AIB and Permanent TSB (PTSB) show why borrowers should compare mortgage products carefully before choosing a deal.
PTSB increased its fixed mortgage rates on 22 October, while AIB cut selected four-year fixed rates on 16 October. The two announcements show that mortgage pricing is not moving uniformly across the Irish market.
This M10news comparison focuses on confirmed rate changes and official market data. It does not rank every lender by its cheapest advertised rate because not all current product rates and eligibility conditions could be independently verified for this publication date.
Irish mortgage rates: the latest confirmed changes
| Lender | Confirmed development | What borrowers need to know |
|---|---|---|
| AIB | Reduced selected four-year Higher Value fixed rates on 16 October | Rates fell to between 3.15% and 3.25% for eligible mortgages of at least €250,000. |
| PTSB | Increased fixed mortgage rates on 22 October | Increases ranged from 0.20 to 0.35 percentage points, depending on the product and borrower’s circumstances. |
| Bank of Ireland | No mortgage-rate increase confirmed in the announcement covered here | The bank also announced changes to certain fixed-term savings deposit rates. These are savings products, not mortgages. |
Sources: AIB’s rate reduction, PTSB’s rate increase and The Irish Times’ report on the October changes.
The figures above describe confirmed announcements rather than a complete list of mortgage products available today. Borrowers should check the relevant lender’s current rate sheet for the rate that applies to their circumstances.
PTSB increases fixed mortgage rates
PTSB increased the interest rates on its fixed mortgage products from 22 October 2026. The lender said the weighted average increase was 0.30 percentage points, with individual changes ranging from 0.20 to 0.35 percentage points.
The increases vary according to the fixed term, the amount borrowed and the loan-to-value ratio. The changes followed two European Central Bank interest-rate increases totalling 0.50 percentage points since June.
PTSB said existing customers already within a fixed-rate period would not be affected by the announcement. It also confirmed that its variable mortgage rates were unchanged for new and existing customers.
Customers who had already received a mortgage offer letter were given until 19 January 2027, or the earlier expiry date of their offer, to draw down at the existing rate, subject to the lender’s conditions.
The announcement does not mean every PTSB mortgage rate increased by the same amount. Borrowers considering a new application should consult the revised rate table or contact PTSB directly to confirm the applicable product rate.
AIB cuts selected four-year fixed mortgage rates
AIB announced a reduction of up to 0.35 percentage points on its Higher Value four-year fixed mortgage products on 16 October.
The new rates are 3.15% for eligible borrowers with a loan-to-value ratio of 50% or less, 3.20% for those between 50% and 80%, and 3.25% for those above 80%.
The products require a mortgage of at least €250,000 and are available to eligible customers whose homes do not have a Building Energy Rating of B3 or higher. The offer applies to qualifying new customers, people switching their mortgage to AIB and certain existing AIB customers, subject to the bank’s conditions.
AIB said that, for a €350,000 mortgage over 25 years with a loan-to-value ratio between 50% and 80%, the new rate would reduce the monthly repayment to €1,695.30 from €1,750.82. That represents a saving of €55.52 per month, based on the bank’s example.
Borrowers should check the current product terms and their own eligibility before assuming the advertised rate will apply to them.
What is the average mortgage rate in Ireland?
The latest available Central Bank of Ireland figures at the time of writing relate to August 2026.
The weighted average interest rate on new Irish mortgage agreements was 3.53% in August, compared with 3.62% across the euro area. New fixed-rate mortgage agreements averaged 3.49%, while new variable-rate agreements averaged 4.16%.
These are historical averages covering mortgage agreements made during August. They are not current advertised offers from individual lenders and do not reflect the full effect of the October announcements.
The figures nevertheless provide useful context for borrowers comparing a lender’s advertised rate with the wider mortgage market.
Source: Central Bank of Ireland — Retail Interest Rates.
How much could a mortgage cost each month?
Interest rates affect monthly repayments, but the amount borrowed and the repayment term are also important.
For illustration, a €300,000 repayment mortgage over 25 years would have the following approximate monthly repayments at different interest rates, assuming the rate remained unchanged throughout the full term.
| Interest rate | Approximate monthly repayment |
|---|---|
| 3.00% | €1,423 |
| 3.20% | €1,454 |
| 3.50% | €1,502 |
| 4.00% | €1,584 |
These are illustrative calculations, not lender quotations. They exclude fees, insurance and other costs. A real mortgage may have a different repayment schedule, particularly when a fixed-rate period ends and another rate applies.
Borrowers should also consider the annual percentage rate of charge (APRC), which helps compare the overall cost of credit, including certain charges.
What should first-time buyers check?
First-time buyers should look beyond the headline interest rate when comparing mortgages.
The loan-to-value ratio measures the size of the mortgage relative to the property’s value. A borrower with a larger deposit may qualify for a different rate from someone borrowing a higher proportion of the purchase price.
Some lenders also offer green mortgage products for properties that meet specific energy-efficiency requirements. The relevant BER threshold and other eligibility conditions vary by product.
Before applying, buyers should check the minimum loan amount, fixed-rate term, fees, eligibility conditions and the rate that will apply when the fixed period ends. They should not assume that the lowest advertised rate is available to every applicant.
Is switching your mortgage worth considering?
Homeowners whose fixed-rate periods are ending may wish to compare their current lender’s options with offers available elsewhere.
However, a lower interest rate does not automatically mean switching will save money. Legal and valuation costs, mortgage fees, cashback conditions and early repayment charges can affect the overall benefit.
Borrowers should request personalised figures from their existing lender and any alternative lender they are considering. A mortgage intermediary regulated by the Central Bank of Ireland can also explain the products that may suit their circumstances.
Where to check Irish mortgage rates
Borrowers can consult official lender websites for current products and eligibility requirements:
- AIB mortgage interest rates
- Bank of Ireland mortgage interest rates
- PTSB mortgage interest rates
- Avant Money mortgage products and rates
- EBS mortgage interest rates
- Haven Mortgages
- Central Bank of Ireland retail interest-rate data
Advertised rates can change, and eligibility differs between products. Readers should confirm the rate and conditions directly with the lender before submitting an application.
What borrowers should watch next
The next important development will be whether other lenders change their mortgage products following PTSB’s increase and AIB’s reduction.
For now, the confirmed announcements show that rates can move in different directions between lenders and products. Borrowers should compare the offers available to them, taking account of their deposit, loan amount, property energy rating and preferred fixed term.
M10news will continue tracking confirmed lender announcements and official mortgage data to help readers understand changes in Ireland’s mortgage market.
Published: 26 October 2026
