There are 11 mortgage lenders now in Ireland and hundred of interest rates.
Knowing how to secure the best rate for you could save you thousands in needless interest payments.
As at July 2025, interest rates range from 2.98% to 6.15% so what’s available and how to do I find the best rate for me? First place to start is by speaking to our team at doddl. Our job is to find the very best mortgage for you.
Let’s look at the types of mortgage rates in Ireland -
- Variable rate – a variable interest rate can increase or decrease in line with a banks own costs and general market forces. Standard variable rates in Ireland average c. 4.15% with some starting at 3.75% and others going to over 6%.
- Tracker mortgage rates – a variable rate linked directly to the ECB rate. Tracker rates ceased being offered to new customers in 2008.
- Fixed rates – can range in term from 1 - 30 year fixed, so you can fix for your entire mortgage term. A fixed rate means same repayment each month for the fixed period.
- A New rate type to the Irish mortgage market in 2025 – the Flex Mortgage rate which is available from Avant. This is a variable rate offering a fixed margin to the 12-month Euribor rate. This is a very transparent rate as the 12-month Euribor rate is an advertised rate.
How to pick the best rate for you –
- This really depends on your personal circumstances, there is no one size first all – fixed rates gives certainty over repayments for the fixed period. First time buyers in particular tend to opt for fixed rates.
- ‘Best’ mortgage or ‘Best’ rate normally involves reviewing a number of factors – mortgage level you need, one lender might offer you a higher mortgage level but may not have the best rate, whether you want to fix for short or long term may impact the lender of choice, whether you want a variable rate so as to be more flexible with overpayments. Your requirements should be discussed in full with your mortgage advisor at doddl so we can help you secure the best mortgage rate and terms for you.
The rate you can get depends on –
- Mortgage level – some lenders have a lower mortgage rate for ‘high value’ mortgages of €250k+
- Your loan to value – this is your mortgage divided by value of your home – for example if you had a 10% deposit then your loan to value would be 90% finance. Rates tend to be more favourable at 80% loan to value or less.
It is really important to review your loan to value as property price inflation has been almost double digits in the last 12 months meaning that someone who has purchased a home over 12 months ago at 90% loan to value, could not be at 80% loan to value by virtue of price inflation. This could unlock lower rates.
- Green rates – if you have an A or B energy rating Green rates are available on the market and are competitively priced.
Our Biggest Tip when it comes to rates – do your research or seek market based advice from a broker such as doddl. We do not charge a fee but can save you thousands.
If you go to one lender they will tell you their best rates but they will not tell you that the bank on the next corner offers a lower rate. At doddl we will, our job is to get you the best rate possible to reduce your mortgage outgoing.
Whether you are a purchaser or mortgage switcher, understanding what rates are available to you is so important.
Contact our team at doddl today to help you find the best mortgage – www.doddl.ie
Curious about how banks set there rates? Here’s a little more info to explain.
- Generally this is based on their cost to acquire funds to lend to you.
- This can be via deposits they have from savers (who they pay low interest to) or via the Interbank markets, where banks lend to each other, and a rate called the Euribor rate.
- When it costs the banks more to acquire funds to lend for example if the Euribor rate is high or deposit interest rates are high then the mortgage interest rates will generally be higher.
- So banks have a cost of funds (to acquire money to lend) and then they will have operating costs, bad debt provisions, capital reserving costs and of course the profit they want to make.
- Movements on international markets, geopolitical influences (tariffs etc) plus inflation all impact funding costs for a bank and in turn impact mortgage interest rates.
