Best Home Loan Rates Ireland: Avant 2.98% & PTSB 3.00%

Stuck on an old mortgage rate while the market keeps shifting? That gap between your current rate and what’s actually available could be costing you thousands every year. This guide cuts through the noise to compare the best home loan rates currently on offer in Ireland — from Avant Money’s headline-grabbing variable rate to PTSB’s recent rate cuts that caught the industry off guard. Whether you’re a first-time buyer or a seasoned switcher, here’s exactly where the market stands.

Lowest fixed rate (PTSB): 3.00% · Avant Money variable: 2.98% · EBS variable: 4.15% · EBS 1-year fixed: 3.85%

Which bank gives the best home loan rates?

Ireland lenders overview

Five lenders dominate the conversation when homeowners ask which bank gives the best home loan rates: Avant Money, PTSB, Bank of Ireland, AIB, and EBS. Each targets a different borrower profile, and the “best” rate depends entirely on your property type, loan-to-value ratio, and whether you’re switching or buying fresh.

Avant Money currently holds the crown for the lowest variable rate at 2.98% on its Flex Variable product at 80% LTV, with an APRC of 3.04% (MortgageLine). For switchers with clean LTV positions, that gap versus older standard variable rates — which can reach 6.9% — represents a saving that compounds dramatically over a 20-year term (Switcheroo.ie).

Switcher.ie top picks

Switcher.ie aggregates rates across lenders and updates its comparison tool as markets shift. Its January 2026 data incorporated PTSB’s rate cut — a 0.45% reduction across multiple terms and LTV bands — making the lender suddenly competitive with longer-fixed products that previously offered better value (Switcher.ie).

The comparison site also surfaces first-time buyer rates, which often differ from switcher products. Bank of Ireland offers a 3.10% 4-year fixed rate for switchers at 80–90% LTV, while AIB counters with a 3.30% 5-year fixed at the same LTV band (Park Financial). These rates apply to owner-occupied properties; buy-to-let products carry a meaningful penalty.

What is the best mortgage rate in Ireland?

Current lowest fixed rates

The answer to “what is the best mortgage rate in Ireland” depends on your time horizon. For short-term switchers, Avant Money’s 3-year fixed at 3.74% APRC (up to 60% LTV) represents strong value, but MoneySherpa’s analysis of over 250 products found that Avant Money’s 15-year fixed rate carries the lowest overall APRC — a product that, over its full term, saves switchers more than €20,000 compared to average market offerings (MoneySherpa).

PTSB entered the race with a 3.00% 4-year fixed rate — among the lowest fixed rates on the market — which now sits comfortably alongside Avant Money’s headline products (MortgageLine). The catch: top rates typically require 80% LTV or better, meaning borrowers with lower equity may not qualify for the most competitive tiers (MortgageLine).

Variable vs fixed options

Variable rate products like Avant Money’s Flex Mortgage reset annually against Euribor, meaning your rate moves when the ECB cuts or raises — offering downside protection if rates fall, but risk if they climb. Fixed rates trade that flexibility for certainty: you know your payment for the term, but you miss out if the market moves lower.

Standard Variable Rates — what legacy borrowers often fall onto after their fixed term ends — currently reach up to 6.9%, a stark contrast that underscores why switching before your term expires matters (Switcheroo.ie).

Who is offering the best mortgage rate right now?

First-time buyers rates

For first-time buyers asking who is offering the best mortgage rate right now, the landscape differs from switcher products. AIB’s 3.30% 5-year fixed and Bank of Ireland’s 3.10% 4-year fixed compete directly, with both lenders offering cashback incentives that can offset switching or legal costs (MortgageLine).

Green mortgage products add another dimension: Haven’s 3.45% 4-year fixed rate for BER B3+ rated properties demonstrates how energy-efficient homes can unlock better pricing, with Bank of Ireland also offering 2% cashback on its 3-year Green rate (Park Financial).

Switcher rates

For existing homeowners switching, the prize is lower. Switcher.ie calculates that borrowers who secure the lowest available rate can save up to €7,575 per year — a figure that reflects the gap between legacy SVRs and today’s best fixed offers (Switcher.ie).

The CCPC’s official guidance confirms that eligibility for switching applies broadly: whether you’re moving from one lender to another or renegotiating with your existing provider, the regulatory framework supports comparison shopping (CCPC).

What many borrowers miss: lenders routinely cover legal fees to encourage switching, with cashback offers reaching up to 3% of the mortgage amount (MortgageLine). On a €250,000 mortgage, that’s €7,500 back in your pocket — enough to offset most switching costs and then some.

Will interest rates drop to 3% again?

Historical context

This question surfaces repeatedly in homeowner forums, and the honest answer is: the market has seen rates at or near 3% in recent cycles, but predicting a return to that level requires forecasting ECB policy — an uncertain science even for central bankers themselves.

Ireland currently carries the seventh highest mortgage rate in the Eurozone, averaging 3.50% — a figure that reflects both the competitive fixed market and the lingering drag of older variable products still on lender books (Switcher.ie).

Forecast signals

PTSB’s January 2026 rate cut signals that competition among lenders is intensifying, with providers undercutting each other to capture switching business. The ECB cut rates throughout 2025, which fed through to variable products — but fixed rates, already competitively priced, moved less dramatically.

For borrowers currently on SVR products at 5–6.9%, the answer is straightforward: you don’t need to wait for rates to drop to 3% to save significantly. Locking in a 3.00%–3.20% fixed rate today versus staying on a 5%+ SVR produces substantial savings immediately — money that stays in your account regardless of where rates go next.

Is a 12.2% interest rate good?

Benchmark vs current Ireland rates

A 12.2% interest rate sits far outside anything available on the Irish mortgage market — that figure typically appears in personal loan or credit card contexts, where risk profiles and product structures differ fundamentally from secured mortgage lending.

For mortgage comparison purposes, the relevant benchmarks are: the ECB’s policy rate (influencing variable products), the average Eurozone mortgage rate, and the best available fixed rates in Ireland. Against these measures, anything above 4% for a new mortgage product warrants a second look at switching options.

Personal loan context

If you’re seeing 12.2% quoted in the context of a personal loan rather than a mortgage, that reflects the higher cost of unsecured borrowing. The good news: secured mortgage rates — where your property backs the loan — typically run 8–10 percentage points lower than equivalent unsecured products. A homeowner with equity in their property can usually access far better pricing than a personal loan applicant without collateral.

Rate comparison table

Twelve products across six lenders, one pattern: fixed rates cluster between 3.00% and 3.85%, while variable and SVR products span a much wider range that can cost borrowers significantly more over time.

The implication: borrowers on follow-on or SVR products are paying up to 3.9 percentage points more than the best available fixed rate — a gap that on a €250,000 mortgage over 20 years translates to tens of thousands of euros in extra interest.

Spec table: what drives the rate you get

Six policy and product factors determine which rate tier you land in — knowing these helps you understand whether you’re getting the best possible offer from your lender.

What this means: improving your LTV by getting a current market valuation — and noting any property improvements that lifted your BER rating — can move you into a lower rate band without changing anything else about your financial position.

Confirmed vs unclear

Three things the data confirms clearly; two areas where uncertainty remains.

What experts say

Right now, mortgage holders could save up to €7,575 per year by switching and securing the lowest rate available.

— Switcher.ie (Mortgage Comparison Site)

Avant Money’s 15-year fixed rate came clearly out on top as the overall best mortgage rate, saving switchers over €20,000 compared to average market offerings.

— MoneySherpa (Mortgage Advisor)

Ireland now has the seventh highest mortgage rate in the Eurozone at 3.50% — a ranking that reflects both competitive fixed products and the drag of legacy variable borrowers still on high-rate books.

— Switcher.ie (Mortgage Comparison Site)

For Irish homeowners still on follow-on or SVR products, the path forward is clear: get a current property valuation, calculate your LTV, and run a comparison against at least three lenders offering 80% LTV products. The savings — potentially thousands per year — compound over a 20-year mortgage in ways that make the switching effort trivial by comparison.

Related reading: Spare Bedroom Tax Rates and Exemptions · UK Tax Thresholds and Rates 2025

When evaluating top rates like Avant’s 2.98% variable, buyers must also consider Ireland home loan borrowing limits under Central Bank rules for first-time purchases and switches.

Frequently asked questions