First time buyers
Helping you buy your own homeRequest a call back Read this Important Information
about our mortgages
Lending criteria, terms and conditions apply. Over 18s only and Republic of Ireland residents only. Mortgaged property must be in Republic of Ireland. Security, buildings insurance and life cover required.
Warning: Your home is at risk if you do not keep up payments on a mortgage or any other loan secured on it.
First Five Mortgage
With 5 great benefits for first time buyers
Buying your first home?
It's an exciting time buying your first home. But it can be hard to know where to start when it comes to the important decisions such as choosing the right mortgage.
If you are ready to make a move you can show agents and sellers that you're a serious buyer with our Agreement in Principle.
Found a house you want to buy?
Review our wide range of fixed rate and flexible variable rate mortgages and find out how much your repayments are likely to be with our easy to use mortgage calculator.
Our guide to buying a home can help you begin to understand all the costs involved in buying your home.
You may also wish to consider taking out buildings and contents insurance along with sickness and unemployment cover, as appropriate.
About our mortgages
Fixed rate mortgages
Our fixed rate mortgages may make budgeting a little easier as the repayment amount is fixed for an initial term
Flexible variable mortgages
These mortgages track the Ulster Bank Standard Variable Rate plus or minus a set margin for the entire life of the loan
Find out about our eligibility criteria including how much you could borrow and for how long
Our step-by-step guide to help you buy your new home.
Our step-by-step guide to the mortgage application
Answers to questions we are asked most often about mortgages.
A list of key terms and phrases we'd like to help you understand.
Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.
If you choose a fixed rate mortgage:
Warning: You may have to pay charges if you pay off a fixed rate loan early.
Variable Rate Representative Example Assuming a total amount of credit of €100,000 repayable over 20 years at a borrowing rate of 4.3% (variable), the cost per month is €621.90 excluding insurance. The total amount to be repaid is €149,294 which includes a release of security fee of €38. The Annual Percentage Rate of Charge is 4.4% (variable). The additional cost per month of a 1% rise in the rate of interest of such a mortgage is €54.74 and would be payable monthly. The above quotation is for illustrative purposes only.
Fixed Rate Representative Example Assuming a total amount of credit of €100,000 repayable over 20 years, initially on a fixed rate for 3 years at 2.99% and then our Standard Variable Rate of 4.3% for the remaining 17 years would require 36 monthly payments of €554.10 and 204 monthly payments of €612.48. The total amount payable would be €144,931.52 made up of the loan amount of €100,000 plus interest of €44,893.52 and a security release fee of €38. The Annual Percentage Rate of Charge is 4.0%. After the initial fixed rate period ends, an additional 1% rise in our Standard Variable Rate would give rise to an additional cost at that time of €46.86 monthly. The above quotation is for illustrative purposes only.
Security, buildings insurance and life cover required. Over 18s only. Product fees may apply. Maximum loan to value (LTV) is 90%. For First Time Buyers and Switchers (with no top up) a maximum of 90% LTV will apply. For Home Movers a maximum LTV of 80% applies. These limits may vary. Buy to Let, Negative Equity mortgages and Mortgages in arrears are excluded from these LTV limits. Lending criteria, terms and conditions apply. Credit facilities subject to repayment capacity and financial status. Applicant must reside in, and mortgage property must be in, the Republic of Ireland. The loan amount is not based on one fixed formula. Factors reflecting the repayment capacity of each applicant are individually assessed based on a combination of factors including qualifying income, net disposable income and existing commitments.
€1,500 Legal Fees Contribution Offer
Following mortgage drawdown €1,500 will be transferred into the customer’s current account from which the mortgage payment is made within two months. Payment will not be made if mortgage is not drawn down. Offer runs from 13 March 2015 to 30th June 2019 and can be withdrawn or extended at any stage at sole discretion of Ulster Bank. Mortgage Application must be submitted within this period to be eligible. €1,500 payment is a contribution towards the customer’s legal fees. Where legal fees have already been paid by the customer, the €1,500 is a reimbursement of fees incurred. Offer not available where the customer is borrowing (1) less than €40,000 at our fixed or variable rates or (2) where the loan is more than 90% or (3) on offset mortgages, negative equity rates, or where the customer is seeking only to transfer title.
Home Insurance Offer
Key Information - 50% discount applies to policies in the first year only. Aviva underwriting acceptance criteria applies. All discounts are subject to a minimum premium of €230 on Buildings and Contents policies or a minimum premium of €115 on Buildings only or Contents only policies.
Important Information - 50% discount is available to new Ulster Bank Home Insurance customers who are buying their first home. Discount comprises 25% Ulster Bank Customer Discount and 25% First Time Buyers Discount (which equates to year 3 on our no claims discount scale). Offer valid until 31/12/19. Ulster Bank Ireland Home Insurance is arranged (for all sales in Ulster Bank branches) and introduced (for all website and call centre sales) by Ulster Bank Ireland DAC. It is underwritten and administered by Aviva Insurance Ireland DAC. Aviva Insurance Ireland Designated Activity Company, trading as Aviva, is regulated by the Central Bank of Ireland. More information at Ulsterbank.ie. Information correct at 13/02/2019.
Life Insurance Offer
Key Information - Free Life Insurance is available for a 12 month period and is provided by Irish Life Assurance plc. Offer available to First Time Buyers aged between 18 and 55. To apply you must answer a qualifying health question.
Important Information - You can also apply for dual cover where both lives have €25,000 free cover each. If you die within the 12 month period, it will pay out a lump sum of €25,000. Ulster Bank Ireland DAC is tied to Irish Life Assurance plc. for life insurance plans. Irish Life Assurance plc is regulated by the Central Bank of Ireland.
Free Valuation Offer
One free valuation per new mortgage customer. A valuer will be nominated for you from our valuation panel.
about our mortgages