The mortgage deposit is the first major hurdle for anyone buying property in Ireland. The amount you need depends on whether you’re a first-time buyer, what type of property you’re purchasing, and which lender you approach. Central Bank rules set minimum thresholds that most lenders must follow, with limited room for exceptions.
This guide explains exactly how much deposit you need in Ireland in 2026, where that money can come from, and how schemes like Help to Buy interact with your deposit requirement.
Central Bank Deposit Rules Ireland 2026
The Central Bank of Ireland sets loan-to-value (LTV) limits that determine your minimum deposit. These rules have been in place since 2015 and remain current in 2026.
First-Time Buyers
If you’re buying your first home and you plan to live in it as your primary residence, you need a 10% deposit. This means the lender will provide up to 90% of the property value or purchase price, whichever is lower.
On a €350,000 property, you need €35,000 as a deposit. The bank lends €315,000.
This 10% rule applies only to primary residences for first-time buyers. You must occupy the property yourself—buy-to-let doesn’t qualify for the 90% LTV rate.
Second-Time Buyers and Subsequent Purchases
If you’ve owned property before, you need a 20% deposit for any primary residence purchase. This applies even if you sold your previous home years ago.
On the same €350,000 property, a second-time buyer needs €70,000. The bank lends €280,000.
The Central Bank doesn’t distinguish between someone who owned a home twenty years ago and someone who sold last year. Once you’ve owned property, the 20% rule applies.
Investment and Buy-to-Let Properties
Buy-to-let properties require a 30% deposit minimum, though many lenders now require 40% in practice. This applies regardless of whether it’s your first investment property.
If you’re buying a €300,000 rental property with the standard 30% requirement, you need €90,000 upfront. With a lender requiring 40%, you need €120,000.
Investment lending criteria are stricter than residential mortgages. Lenders assess rental income projections and often require the rental income to cover 125-130% of the mortgage payment.
Lender Exceptions to the 10% Rule
The Central Bank allows each lender to grant exceptions to these LTV limits for up to 20% of their total lending value for primary residences. In practice, this means some buyers can get mortgages with less than the standard deposit.
First-time buyers can occasionally secure a 5% deposit mortgage under these exceptions. However, competition for exception cases is intense, and lenders reserve them for applicants with very strong income, employment stability, and credit records.
If you’re a second-time buyer, some lenders may reduce your requirement from 20% to 10% using an exception, particularly if you’re purchasing a lower-value property and have excellent income.
Don’t assume you’ll receive an exception. Plan based on the standard requirements: 10% for first-time buyers, 20% for others.
Acceptable Sources for Your Deposit
Irish lenders scrutinise where your deposit money comes from. You’ll need to prove the source of every euro, and some sources aren’t acceptable at all.
Verified Savings
Your own savings are the most straightforward deposit source. Lenders typically require:
- Three to six months of bank statements showing the savings building up
- Proof the money wasn’t borrowed (no recent large lodgements that can’t be explained)
- Consistency between statements — they’ll spot gaps or missing months
If you’ve been saving €800 monthly for three years, that’s clearly documented savings. If €25,000 suddenly appears in your account, you’ll need to explain exactly where it came from.
Gifted Money from Family
Gifts from parents or close family are widely accepted for deposits. The lender will require:
A signed gift letter stating:
- The amount being gifted
- The relationship between giver and recipient
- Confirmation it’s a gift, not a loan
- That the giver doesn’t expect repayment
- That the giver has no legal interest in the property
Bank statements from the person giving the gift showing they had those funds available.
If your parents give you €20,000, they’ll need to show statements proving they held that amount. The lender wants to ensure the money wasn’t itself borrowed, which would make it a loan once removed.
Help to Buy Scheme Funds
The Help to Buy Scheme provides a rebate of up to €30,000 for first-time buyers purchasing or building a new home. This money counts directly towards your deposit.
If you’ve paid enough income tax over the previous four years, Help to Buy can provide:
- 10% of the purchase price
- Up to €30,000 maximum
On a €300,000 new-build, you can receive the full €30,000. Combined with €5,000 of your own savings, you’d have a €35,000 deposit—exactly 10%.
Help to Buy only applies to new properties and has a maximum property value of €500,000. You can’t use it for second-hand homes.
Other Investment Accounts
Savings from shares, bonds, or other investment accounts are acceptable, provided you can show:
- Account statements covering several months
- Sale documentation if you’ve liquidated investments
- Source of the original investment if recent
A €15,000 sale from a long-held stock portfolio is fine. Selling shares you bought three weeks ago with unexplained funds will raise questions.
Credit Union Savings
Credit union account balances are acceptable as deposit sources. You’ll need statements showing the balance history, just as with bank accounts.
If you have €12,000 in a credit union share account you’ve maintained for years, bring those statements to your broker or lender.
What Doesn’t Count as a Deposit
Several sources are explicitly not acceptable for Irish mortgage deposits:
Personal loans or borrowed money — The deposit cannot be borrowed. Lenders will identify recent loan drawdowns and reject borrowed funds.
Cryptocurrencies — Most lenders won’t accept crypto holdings as a deposit source, even if liquidated, due to concerns about source of funds and volatility.
Pension funds — You cannot access pension savings early to fund a deposit. Pensions are locked until retirement age.
Unsecured credit — Credit card cash advances, overdrafts, or any revolving credit cannot form part of your deposit.
If you take a €10,000 personal loan three months before applying for a mortgage, that loan appears on your credit report, affects your borrowing capacity, and cannot be used as deposit funds.
Deposit Requirements by Property Price
Understanding how the deposit scales with property value helps you plan savings targets:
| Property Price | FTB Deposit (10%) | Second Buyer (20%) | BTL Deposit (30%) |
|---|---|---|---|
| €250,000 | €25,000 | €50,000 | €75,000 |
| €300,000 | €30,000 | €60,000 | €90,000 |
| €350,000 | €35,000 | €70,000 | €105,000 |
| €400,000 | €40,000 | €80,000 | €120,000 |
| €450,000 | €45,000 | €90,000 | €135,000 |
| €500,000 | €50,000 | €100,000 | €150,000 |
Remember these are minimum deposits. Having more than the minimum improves your mortgage rate and demonstrates financial stability to lenders.
Help to Buy Interaction with Your Deposit
Help to Buy reduces the cash you need to save yourself, but doesn’t change the overall deposit percentage requirement.
Example scenario:
- New-build house: €350,000
- Help to Buy rebate: €30,000
- Required 10% deposit: €35,000
- Your cash needed: €5,000
You still provide a 10% deposit total, but Help to Buy contributes most of it. Without the scheme, you’d need the full €35,000 in savings or gifts.
The scheme is being reviewed in 2026, with some speculation about reduced rebate amounts or stricter criteria. Current figures assume the scheme continues as structured, but check the latest terms when planning your purchase.
Additional Costs Beyond the Deposit
Your deposit isn’t the only upfront cost. Budget for:
Stamp duty — €350,000 first-time buyer purchase on a second-hand home pays no stamp duty. For others, expect €1,000 + 1% of excess over €1 million (for properties over that threshold).
Solicitor fees — Budget €1,500–€2,500 for conveyancing, searches, and legal work.
Surveyor fees — A structural survey costs €400–€800, highly recommended for older properties.
Mortgage protection insurance — Required by lenders, often €40–€80 monthly added to mortgage payment or paid separately.
Moving costs — Removal company, initial furniture, utility connections.
On a €350,000 purchase, expect €4,000–€7,000 in additional costs beyond your deposit, depending on whether you’re a first-time buyer and what property condition requires.
Saving Strategy for Your Deposit
Building a deposit takes discipline and time, but structured saving makes it achievable.
Set a target date — If you need €35,000 and can save €700 monthly, that’s 50 months. Be realistic about timing.
Separate deposit account — Use a dedicated savings account you don’t access for day-to-day spending. Regular standing orders on pay day work better than saving what’s left at month-end.
Track inflows carefully — Keep digital or paper records of where every large lodgement comes from. You’ll need this documentation for the lender.
Consider Help to Buy early — If buying new-build, factor the scheme into your planning from the start. Don’t save beyond what you actually need.
Gift documentation upfront — If family are contributing, get the gift letter signed when the money moves, not months later when you need it for the mortgage application.
The median first-time buyer deposit in Ireland in 2025 was approximately €32,000, reflecting typical property prices around €320,000. Regional variation is significant—Cork and Galway city buyers often need similar amounts to Dublin, while rural buyers may need less.
Getting Your Deposit Documentation Right
When you apply for a mortgage, your broker or lender will request specific deposit evidence. Prepare:
- Six months of current account statements showing regular income and saving pattern
- Six months of savings account statements showing deposit balance building
- Gift letters with donor signatures, if applicable
- Sale confirmations for any investments liquidated
- Help to Buy approval letter, if using the scheme
Missing or incomplete documentation delays mortgage approvals. One missing bank statement or an unsigned gift letter can push your approval back weeks.
If you have a complex deposit situation—multiple sources, gifts from several family members, investments sold—work with a mortgage broker. They know exactly what each lender requires and can help you prepare the documentation properly from the start.
What Happens If You Don’t Have Enough Deposit
If you’re short on deposit funds, you have limited options:
Wait and save more — The most straightforward approach. Calculate how long you need to reach your target.
Look for a smaller property — A €280,000 property needs €28,000 deposit (FTB) instead of €35,000 for a €350,000 home.
Family gift — If parents or relatives can help with a gift, this remains the fastest route to increasing your deposit.
Help to Buy — If considering new-build anyway, the scheme can bridge significant deposit gaps.
Lender exception — Worth discussing with a broker, but don’t rely on receiving one.
Borrowing money to make up a shortfall isn’t viable. It affects your borrowing capacity and violates lender requirements for verified deposit sources.
The Central Bank deposit rules are designed to ensure borrowers have genuine financial stake in their property and aren’t over-leveraged. While the thresholds feel steep when saving, they’ve contributed to relative mortgage market stability even during economic uncertainty.
Plan early, save consistently, and document everything. Your deposit is the foundation of your mortgage application—getting it right from the start makes everything else easier.
See also: Central Bank Mortgage Rules Ireland | How Much Can I Borrow? | Help to Buy Scheme Ireland | First-Time Buyer Mortgages Ireland | Mortgage Approval in Principle Ireland