House Deposit Calculator Ireland

What this calculator is for

This calculator shows the standard minimum deposit implied by Ireland’s loan-to-value rules and the maximum mortgage that LTV alone would permit.

For a principal home it models the standard 90% maximum LTV. For a buy-to-let purchase it models the standard 70% maximum LTV.

Switch to Advanced calculation to enter the deposit cash you actually have. The calculator then compares that cash with the standard minimum, shows the mortgage still required and calculates the resulting LTV.

That advanced view helps answer a more useful question than “what is the minimum?”: where would my own deposit put me?

Current standard deposit rules

Under the Central Bank mortgage measures:

• first-time buyers purchasing a principal home generally need at least a 10% deposit;
• second and subsequent buyers purchasing a principal home generally also need at least a 10% deposit;
• buy-to-let buyers are generally subject to a 30% deposit requirement.

Expressed as loan-to-value limits, those are 90% for principal-home lending and 70% for buy-to-let lending.

These are macroprudential limits. A lender can require a larger deposit or lend less after its own credit and affordability assessment.

Worked example: €400,000 principal home

For a €400,000 principal home:

• standard minimum deposit: €40,000;
• maximum mortgage from LTV alone: €360,000;
• maximum standard LTV: 90%.

That does not mean a €360,000 mortgage will be approved. The mortgage must also fit the applicable LTI limit and the lender’s own affordability tests.

Use the Mortgage Borrowing Calculator to bring income into the picture.

Advanced example: €60,000 deposit on a €400,000 home

Suppose the property is €400,000 and you have €60,000 available for the deposit.

The standard minimum remains €40,000, so your deposit is €20,000 above the minimum.

If the full €60,000 is used against the price:

• mortgage required: €340,000;
• resulting LTV: 85%.

That can matter because mortgage products are often offered in LTV bands. A lower LTV can sometimes change the rates or products available from a lender.

The calculator does not contain lender-specific rate bands, so use it to identify the LTV and then compare actual mortgage offers.

Minimum deposit versus sensible deposit

The regulatory minimum is not necessarily the deposit you should use.

A larger deposit can:

• reduce the mortgage required;
• reduce the monthly repayment;
• reduce lifetime interest if the rate and term are otherwise unchanged;
• move the mortgage into a lower LTV band.

But putting more cash into the property also reduces your liquid savings.

A household that empties its savings to maximise the deposit can be financially exposed immediately after moving, when furnishing, repairs and unexpected costs often arrive.

The useful decision is therefore not simply “largest possible deposit”. It is the balance between:

• mortgage cost;
• available LTV pricing;
• completion costs;
• and the emergency reserve you want to retain.

Deposit is not the same as total cash needed

The mortgage deposit is only one part of the cash requirement for buying a home.

You may also need cash for:

• Stamp Duty;
• solicitor and conveyancing costs;
• valuation;
• survey or engineer’s report;
• moving costs;
• insurance;
• furniture, appliances and immediate works.

Use the House Buying Costs Calculator before deciding that every euro of savings is available for the deposit.

The Stamp Duty Calculator separately calculates the standard residential duty.

Booking deposit versus mortgage deposit

A booking deposit paid to an estate agent is not the same concept as the total mortgage deposit or equity required to complete the purchase.

Money paid earlier in the transaction may ultimately form part of the purchase funds, but the important number for mortgage planning is the total amount of the property price that is not being financed by the mortgage or other accepted funding.

Your solicitor and lender will deal with the actual flow of funds during the transaction.

How income can become the tighter limit

A larger deposit does not automatically mean you can borrow the remaining amount.

Example:

• property price: €400,000;
• deposit: €40,000;
• mortgage needed: €360,000.

A first-time buyer would ordinarily need €90,000 of gross household income for a €360,000 mortgage to fit a 4-times LTI ceiling before lender affordability.

So the deposit can be sufficient while income is not.

That is why the deposit calculator should be used alongside the Mortgage Borrowing Calculator rather than on its own.

Deposit percentage and mortgage pricing

Lenders may group products by LTV.

For example, a borrower at 90% LTV and a borrower at 80% LTV may not always be offered the same rate or product set.

If an extra deposit moves you across an actual lender’s LTV threshold, compare:

1. the additional cash tied up in the property;
2. the new mortgage rate;
3. the monthly repayment;
4. the total interest over the period you realistically expect to keep that mortgage.

The Mortgage Switch & Rate Change Calculator can help compare rate structures later in the mortgage.

Gifts and source of funds

A deposit can come from more than regular savings, but a lender may require evidence of the source of funds and may have its own requirements for gifted deposits.

Tax consequences can also depend on the relationship between the giver and recipient and on prior gifts or inheritances.

This calculator deliberately treats the deposit as a number. It does not determine whether a lender will accept a particular source of funds or whether a tax charge arises.

Help to Buy and shared equity

For qualifying first-time buyers of eligible new homes or self-builds, Help to Buy may contribute to the funding available for the purchase, subject to the scheme rules.

Use the Help to Buy Calculator to model that separately.

The First Home Scheme is shared equity rather than an ordinary cash deposit. It has its own maximum equity share, minimum share and property price ceilings. Use the First Home Scheme Calculator rather than simply adding assumed shared equity to the deposit field.

Common mistakes to avoid

Assuming 10% guarantees a mortgage

It does not. Income, repayment capacity and lender underwriting still apply.

Spending the entire cash reserve

The minimum deposit excludes buying costs and does not create an emergency fund.

Confusing deposit percentage and LTV

A 10% deposit corresponds to 90% LTV. A 20% deposit corresponds to 80% LTV.

Forgetting that a larger deposit can change rates

The rate impact depends on the lender and product, but it can be worth checking the next LTV band.

Treating scheme support as ordinary savings

Help to Buy and shared-equity schemes have separate eligibility and funding rules.

Frequently asked questions

Is 10% always enough for a principal home?

It is the standard minimum implied by the Central Bank 90% LTV limit, but a lender can require more or approve a smaller mortgage.

Do second-time buyers also use 10% under the current standard rules?

Yes. The standard principal-home LTV limit is 90% for first-time and second/subsequent buyers.

What deposit does a buy-to-let buyer generally need?

The standard 70% maximum LTV implies a 30% deposit.

Does the deposit include Stamp Duty?

No. Stamp Duty is a separate transaction cost.

Can a gift be used?

It may be possible, but lender evidence requirements and tax considerations can apply. This calculator does not assess them.

Will a bigger deposit always save money?

It reduces the mortgage needed, but whether using more cash is best depends on rates, liquidity, other costs and your financial buffer.

Method and limitations

The calculator applies a 10% standard minimum deposit to principal-home purchases and 30% to buy-to-let purchases.

In Advanced mode it compares the cash entered with that minimum, caps the deposit used in the LTV calculation at the property price and calculates the mortgage needed and resulting LTV.

It does not determine mortgage approval, lender-specific rate bands, source-of-funds acceptance, housing-scheme eligibility, tax on gifts or purchase costs.

Useful sources

• Central Bank of Ireland — Mortgage Measures
• Central Bank of Ireland — What are the mortgage measures?
• CCPC — Sort out your deposit
• CCPC — Understanding mortgages