How big a mortgage deposit do you need in Ireland?

In Ireland the minimum mortgage deposit is set by the Central Bank of Ireland’s mortgage measures: 10% of the purchase price for first-time buyers and for second and subsequent buyers, and 30% for a buy-to-let property. On a €350,000 home that means you need at least €35,000 saved, with the mortgage covering the remaining €315,000. These are the rules as of this page’s review, and the Central Bank can change them.

The rule and what it protects

The deposit rule is a loan-to-value limit. Loan-to-value, or LTV, is the size of the loan measured against the value of the home. Setting a maximum LTV of 90% is the same as setting a minimum deposit of 10%: the deposit is the buffer between what you borrow and what the home is worth.

That buffer protects two people at once. It protects the lender, because if the property has to be sold the loan is smaller than the home’s value. And it protects you, the borrower, from ending up owing more than your home is worth, a position that becomes dangerous if prices fall or you need to sell early. The Central Bank frames the measures as a safeguard for borrowers and for the wider financial system, not just for banks.

What it means in euros

At the 10% minimum, the deposit and the maximum loan scale directly with the price. A more expensive home needs a larger deposit and leaves a larger loan.

Property type	Price	Minimum deposit	Maximum loan
First-time or second/subsequent buyer	€350,000	€35,000 (10%)	€315,000
First-time or second/subsequent buyer	€500,000	€50,000 (10%)	€450,000
Buy-to-let	€300,000	€90,000 (30%)	€210,000

The buy-to-let figure is a reminder that the property’s use, not just its price, sets the rule. A €300,000 home bought to live in needs €30,000 at the 10% minimum; the same €300,000 bought to rent out needs €90,000, because the Central Bank applies a 30% deposit to buy-to-let lending.

Deposit and loan-to-value are the same fact

A 10% deposit and a 90% loan-to-value describe one situation from two sides. Put in €35,000 on a €350,000 home and you are borrowing 90% of its value; your LTV is 90%.

This matters beyond the minimum, because lenders price mortgage rates by LTV band. A borrower who puts down more than the required minimum has a lower LTV, and a lower LTV can qualify for a cheaper interest rate than a loan at 90%. The exact bands and rates differ by lender and change over time, so treat this as the general shape of things rather than a promise: a bigger deposit lowers your LTV, and a lower LTV can mean a lower rate.

The exceptions

Lenders have limited discretion to lend above these limits. The Central Bank allows each lender to exceed the loan-to-value and loan-to-income limits on a small share of its lending each year, and these are known as allowances. They exist so the rules are not completely rigid for cases that make sense.

An allowance is entirely at the lender’s discretion, and the room for them is small and shared across all their applicants. No one should plan a purchase around getting one. Save and borrow as though the standard limits apply to you, because for almost everyone they will.

Where the rules live

The Central Bank of Ireland publishes the mortgage measures and reviews them, so the figures on this page describe the position as of its review and can change. Sitting alongside the deposit rule is a loan-to-income limit on how much you can borrow: first-time buyers can take on up to four times what they earn gross, second and subsequent buyers up to 3.5 times. Between them, the loan-to-value and loan-to-income limits decide the size of both your deposit and your mortgage.

Because the measures are reviewed periodically, check the Central Bank’s current rules when you are actually ready to apply. The deposit is only one part of the cost of buying, which also includes fees and other outlays beyond the price itself, but under the measures it is the first number the rules fix for you.