FAQs

A bank can only offer you its own mortgage products, while a broker works with multiple lenders to find the best rates and terms for your situation. This often gives you more choice and flexibility.

Typically, you’ll need at least 10% of the property’s value as a deposit, though some lenders may accept less. The larger your deposit, the better your interest rate and borrowing options usually are.

Many brokers are paid by the lender when your mortgage is approved, meaning their service is free to you. Some may charge a small fee depending on the complexity of your case, but this will always be discussed upfront.

Many brokers are paid by the lender when your mortgage is approved, meaning their service is free to you. Some may charge a small fee depending on the complexity of your case, but this will always be discussed upfront.

Typically, you’ll need at least 10% of the property’s value as a deposit, though some lenders may accept less. The larger your deposit, the better your interest rate and borrowing options usually are.

A bank can only offer you its own mortgage products, while a broker works with multiple lenders to find the best rates and terms for your situation. This often gives you more choice and flexibility.

As a first-time buyer, you may be eligible for several government supports, including:

• Help to Buy Scheme – Up to a maximum of €30,000 (or 10% of the property price) based on income tax and DIRT paid in the last 4 years toward your deposit if you’re buying a newly built home.
• First Home Scheme – A shared equity scheme that helps bridge the gap between your mortgage and the cost of your new home.
• Affordable Purchase Scheme – Offered by local authorities, this provides newly built homes at a reduced price. The local authority retains a percentage stake in the property corresponding to the discount given.
• Vacant Property Refurbishment Grant – Grants of up to €50,000 are available to renovate vacant homes for use as a principal private residence, increasing to €70,000 if the property is also derelict.
• Derelict Property Grant – This is an extension of the Vacant Property Grant, specifically for properties deemed derelict. It helps cover renovation costs when bringing long-abandoned buildings back into use.

10% is the lowest allowed under Central Bank lending rules. For example, a €250,000 home would require a €25,000 deposit. If you qualify for the Help to Buy Scheme, this can be used as part or all your deposit.

You must provide at least 10% of the agreed purchase price. This can be made up of your savings, the Help to Buy tax refund, or a gift (i.e. from family).

In most cases, you can borrow up to 4 times your gross annual income as a first-time buyer.

For example:

• If you earn €45,000 per year, you could borrow up to €180,000.
• If you’re applying with someone else and your combined income is €80,000, you could borrow up to €320,000.

Exemptions exist where lenders approve a limited number of mortgages at up to 5 times your income.

Some lenders will look at future income by moving you up your salary scale. For example, if you’re on 0.4 of your salary scale, your borrowing power could be based on 0.7 of your salary scale.

Switching your mortgage means moving your mortgage from your current lender to a new one, usually to get a lower interest rate, reduce your repayments, or unlock equity. Your new lender pays off your existing mortgage, and you start making repayments to them instead.

Here’s how it typically works:

1. We assess your current mortgage and show you better options across multiple lenders.
2. You apply for approval with the new lender (we handle the paperwork).
3. Your solicitor handles the legal work (we can recommend a solicitor who specialises in switching mortgages, if needed).
4. Your new lender pays off your old mortgage and transfers your balance.
5. You start repaying the new mortgage – ideally with a lower rate or better terms.

With SYS Mortgages, the whole process is smooth and stress-free – and there’s no cost to use our service.

It may be worth switching mortgage providers if:

• Your current rate is higher than what’s now available
• You’re coming off a fixed term
• You want to reduce your repayments or term
• You qualify for a cashback offer from another lender
• You are considering releasing equity from your home to do home improvements, for example

You could save thousands over the life of your mortgage – and we’ll tell you exactly how much.

The most common reasons are:

• To get a better interest rate
• To lower monthly repayments
• To shorten the term and pay it off faster
• To release equity from your home
• To access cashback offers from other lenders
• To move from variable to fixed, or vice versa

Most mortgage switches are completed in 4-8 weeks, depending on your lender and how quickly documents are provided. We’ll guide the process to keep things moving.

You may face a breakage fee if you’re on a fixed-rate mortgage and switch before your term ends. This varies by lender and time remaining. It’s best to ask for a breakage fee statement from your existing lender, and we will help you decide whether it’s worth switching now or later.

You’ll usually pay €1,000-€1,500 in legal fees for a mortgage switch, but many lenders offer cashback that more than covers these costs. We’ll let you know if a cashback deal could offset your switching fees.

No – not when you have help. While there’s a bit of paperwork involved, SYS Mortgages makes switching simple. We handle everything from rate comparison to lender coordination and legal documentation.

Most lenders require a minimum deposit of 10% of the total build cost. For example, if your build is estimated to cost €250,000, you’d need at least €25,000 as a deposit.

As a first-time buyer, if you have a site that you own or were gifted, this can be your 10% deposit. In that case, the lender may fund 100% of the build cost.

Otherwise, you may need to fund the first stage of construction upfront (before the first drawdown is released), so having access to extra savings is helpful.

If you’re building your first home, you may qualify for the Help to Buy Scheme. This provides up to a maximum of €30,000 (or 10% of the property value), based on taxes you’ve paid over the last 4 years. This grant is not available if the final value of your property is in excess of €500,000.

Yes, several lenders in Ireland offer green mortgage rates for self-build projects – provided your new home meets specific energy-efficiency standards.

Here’s how it typically works:

1. You apply for a mortgage based on the build cost and projected value of the completed home.
2. Funds are released in stages (called drawdowns) after key build milestones.
3. You must provide costings, planning permission, and valuations.
4. Your engineer or architect signs off on each stage of the build, which allows the lender to release more funds.

We’ll coordinate with your architect, valuer, and solicitor to make this smooth and efficient.

On average, self-builds in Ireland take 9 to 18 months, depending on:

• Weather and site conditions
• Project size and complexity
• Contractor availability
• How quickly drawdowns are approved

We help ensure the mortgage side keeps up with your build schedule.

You have two options:

1. Pay off your current mortgage when your house sells and apply for a new one
2. Retain your current property and lease it to repay the mortgage

We’ll help you compare both and find the option that’s better for your budget and timeline.

Moving home typically involves:

1. Getting approval in principle for your new mortgage
2. Coordinating the sale of your current home
3. Securing funding and legal clearance for the purchase
4. Drawing down the mortgage on the new home

We’ll manage the process from start to finish so nothing falls through the cracks.

If you’re a second-time buyer, all lenders require a minimum 10% deposit of the purchase price.
That means if your new home costs €400,000, you’ll need at least €40,000 as a deposit.

Your deposit can come from:

• The equity in your current home
• Savings or gift
• A combination of both

Most second-time buyers can borrow up to 3.5 times their gross annual income.
Example:

• Earning €80,000 = up to €280,000 mortgage

Exemptions (up to 4x income) are available in limited cases – we’ll help assess your eligibility.

A Fresh Start mortgage is designed to help individuals or families who have previously experienced financial difficulty – such as insolvency, bankruptcy, or loss of property ownership – get back on the property ladder.

Under the Rebuilding Ireland Home Loan scheme, a Fresh Start mortgage is available to those who meet the following conditions:

• You’ve previously owned a home (alone or jointly) but no longer have a financial interest in any property.
• You’ve gone through insolvency or bankruptcy or experienced a separation or divorce that affected your ability to stay in your home.
• You do not currently own a property.
• You meet the standard eligibility criteria (e.g. income limits, Irish residency, first-time buyer status in effect).

These mortgages are provided by local authorities and aim to offer affordable, fixed-rate lending to those who wouldn’t typically qualify through mainstream banks.

Yes, buy-to-let mortgages are available from some Irish lenders, but the criteria are stricter than for residential mortgages. You’ll usually need:

• A minimum 30% deposit
• A property that meets rental standards
• Proof that expected rental income covers the repayments
• A clean credit history
• You cannot be a first-time buyer

If you’re applying through a Limited Company, additional documentation and tax considerations will apply.

All lenders require a minimum 30% deposit of the purchase price for buy-to-let mortgages.

For example:

• Property price: €300,000
• Minimum deposit: €90,000

It depends on your situation. If you already own a property and want to rent it out:

• Some lenders allow you to convert your mortgage to a buy-to-let
• Others may require a full remortgage under buy-to-let terms
• Some lenders will allow you to let your property and retain the rate you’re on

Approval will depend on your equity, repayment capacity, and rental viability. We’ll help you understand what’s possible.

1. Check your deposit – Minimum 30% is required
2. Confirm rental potential – Estimate achievable rent
3. Get Approval in Principle – We’ll help you apply
4. Submit documents – Similar to any residential purchase
5. Complete legal steps – Valuation, solicitor, drawdown

SYS Mortgages handles the full process, from rate comparison to paperwork coordination.

Yes. Some lenders accept non-resident applications – we specialise in guiding expats through the process.

Usually 30% of the property’s value, depending on the lender and whether the property is for investment or family use.

Yes, but only major currencies like GBP, USD, EUR, AUD, CAD. We’ll find lenders that suits your case.

Yes, but only major currencies like GBP, USD, EUR, AUD, CAD. We’ll find lenders that suits your case.

It can take slightly longer due to extra checks, but we’ll ensure your application is fast-tracked where possible.

Yes, if the property qualifies. We’ll help you take advantage of any available incentives.

No, they cannot. The scheme is designed to assist Irish-resident first-time buyers with tax rebates on newly built or self-built homes.

Yes, for legal representation during the purchase. We can recommend trusted professionals experienced with expat clients.

No, lenders offer rates comparable to resident buyers.

Equity release lets you access money tied up in your property, usually through a mortgage or similar product, without having to sell or move out of your home.

Anyone who owns a home, with or without a mortgage, who needs to release equity for a specific purpose is eligible. Specific purposes include (but are not limited to):

• Home improvements
• Helping family with a deposit for a home or funding third-level education
• To pay an inheritance tax bill
• Separation agreement payment, and even
• Medical expenses such as IVF treatment

The amount depends on the lender’s criteria, which varies significantly depending on the lender you choose. A mortgage broker can assess this and show you what is available. Ultimately, it will depend on the value of your home and the equity available in it.

Releasing equity can reduce the value of your estate, which means less inheritance for your beneficiaries. It’s important to discuss this with your family and seek professional legal  and taxation advice before making a decision.

Equity release funds can be used for a wide range of purposes, depending on your needs. Many people choose to use the money for:

• Home improvements or renovations

• Helping children or family members with a property deposit or education costs

• Paying off debts or covering inheritance tax bills

• Covering legal or separation agreement payments

• Funding medical expenses, such as IVF treatment

• Boosting retirement income