In our 2026 mortgage checklist, we have a look at the changes in the world of Irish mortgages over the last while. We’ll also look at what first-time buyers will need when searching for a mortgage and if there are any savings to be found.

The mortgage world is always changing and never more so than over the last 12 months. The outside world affects mortgage lending, and first-time buyers are seeing many changes with all the upheavals around the globe.

At LHK Mortgages, we are only too aware of the difficulties out there, and our 2026 mortgage checklist may help make it easier for you when looking to buy a home.

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What is mortgage protection in Ireland?

Mortgage protection insurance is a policy that covers your mortgage repayments if you die.

Some mortgage protection policies have a serious illness option. If you add the serious illness option to your policy, the insurer may pay the remainder of your mortgage if you contract a named serious illness.

You are required by most mortgage providers in Ireland to take out mortgage protection insurance. Anyone aged under 50 taking out a residential mortgage in Ireland is required by law to have mortgage protection insurance.

A mortgage protection policy covers the term of the mortgage in case you pass away, but you may be able to add extra cover for other life-changing events.

Recent news in the Irish mortgage market

Recent news in the Irish mortgage market range from the interest rate changes to an uptake in first-time borrower mortgages to the grants and tax savings available when buying a home.

Recent updates in the Irish mortgage sector:

Mortgage interest rate changes in 2026 may be slight, but even the slightest change may make a difference over the course of a 30-year mortgage.

Irish mortgage rates fell to their lowest level in almost three years towards the end of 2025. First-time buyers can get good value on a fixed-rate mortgage, but they should get sound advice on how long to fix it and the rate they should accept.

LHK Mortgages can advise you on fixing a mortgage and on what rate to accept.

Latest trends show an increase in first-time buyers drawing down mortgages in the first months of 2026. The market needs first-time buyers, and any increase in mortgage activity can only be a good thing.

Over €3 billion was drawn down by first-time mortgage applicants in the first quarter of the year, a total of 9,437 new mortgages, and up 2.5% on 2025.

Remortgage activity and mortgage switching are also on the rise, with a 3.6% increase in remortgaging and an over 16% increase in mortgage switching.

Stability in the fixed-rate market is a good thing to see when trying to plan for the next few years.

First-time buyers like to know that if they’re taking out a fixed mortgage, the rates won’t get much better over the life of their fixed-rate agreement.

Current fixed-rate mortgage offerings are between 3.5% and 4.0%. Even the longer-term fixed rate market, up to 30 years for some buyers, is stable and offering value for mortgage customers in 2026.

The green mortgage market is still strong in Ireland, with most lenders offering discounts and other incentives to home buyers. It makes sense that if you are looking to buy a home, it meets energy-saving recommendations and you will save money at the same time.

Green mortgage discounts available in Ireland:

  • When you’re buying a home with a BER between A1 and A3
  • When building a new home with near Zero Energy Building standards
  • Doing renovations to make the home more energy efficient, minimum BER A3

Discount rates are available on Green Mortgages, and some mortgage lenders offer cashback when you take out a Green Mortgage for your house purchase.

Competition in the mortgage market remains strong, and signs over the last 12 months indicate consumers are the ones to benefit.

New mortgage lenders are always welcome in the market as they give more choice, tend to offer better value, and in the long term, competition is good for Irish mortgage borrowers.

Lenders compete with cashback offers, lower interest rates, and may also offer better value on fixed-term mortgages and consumer-friendly discounts.

Changes, updates and news on the Irish mortgage scene show the market is healthy and growing year on year.

If you are a first-time buyer trying to take in the changes in the market, it may all seem a bit of a blur.

Having a checklist on what to have ready will help focus the mind and make getting a mortgage that bit easier.

What should first-time buyers have ready when looking for a mortgage?

There is a long list of things to have ready when looking for a mortgage as a first-time buyer in Ireland.

We always advise you to have a mortgage application checklist and double-check that you have everything on it before going near an application.

A good mortgage application checklist leaves nothing to chance. It will guide you along the mortgage application process and prepare you when the day comes to submit all the paperwork.

Your mortgage application checklist:

  • Six months of your most recent current account statements
  • Six months’ statements of any savings, investment, and loan accounts
  • A recent P60 and payslips from the last few months
  • Evidence of your ability to pay the mortgage
  • Copy of a rental agreement and proof of paying the rent
  • Letter from a solicitor outlining obligations if divorced or legally separated
  • A residency permit if working in Ireland on a work visa
  • Documentation to show your tax affairs are in order for any non-PAYE income
  • Evidence of other income
  • Credit clearance from another country if you have worked abroad
  • A valuation report for the property
  • Your contract of employment, if an employee
  • Details on commission and other salary top-ups
  • Self-employed accounts for the previous two years
  • A statement from an accountant on tax affairs
  • Identification
  • Signed application form

If you are applying for a mortgage with your spouse or partner, you will need to have each item listed above from both of you.

Filling out a mortgage application form may seem daunting, but following our simple checklist and having everything ready in advance will make it much easier.

The LHK Mortgages team in Dublin will be by your side to help with the mortgage application and to iron out any difficulties in the process.

What factors should you consider for a first-time mortgage?

There are a few factors to consider for a first-time mortgage application. No matter how you look at it, you are a new prospect for the mortgage lender, and one factor they want to be sure of is that you are a safe borrower.

The deposit is crucial to every first-time mortgage borrower. The minimum expected deposit is 10%, which is 10% of the total amount you are borrowing. If you think about it, 10% is a lot when average house prices are around the €350,000 mark in many places.

You also need to consider if the house is right for you and if you will need to move or upgrade the home in the years to come. Even adding a new bedroom when kids come along can add to your costs, and building improvements are expensive these days.

Your affordability ratio, around four times your gross income, is another consideration the mortgage lender will look at and is something you need to address immediately.

Government supports for first-time buyers are good in Ireland and can be a big consideration, and are really worth investigating.

At LHK Mortgages, we know all the factors to consider when looking for a first-time mortgage, and we can guide you along the road to buying your home.

How much can I save on taking out a mortgage?

You can save a lot of money over the course of your mortgage by availing of Green Mortgage discounts, government incentives, and by fixing your mortgage for a period of time.

Of course, getting the right mortgage in the first place is the number one way to save money on a mortgage in Ireland.

If you are renting a property at the moment, buying a house may seem like only a dream, but you will be surprised by the amount of money you could save by becoming a homeowner, and that it is possible too.

The LHK Mortgages  mortgage calculator can help you see how much money can be saved and where to save it, especially compared to what you are paying in rent. 

Contact LHK Mortgages today

Contact LHK Mortgages today for all the help you need when looking for a mortgage in 2026.

LHK Mortgages is a long-established, trustworthy financial services company that can help secure finance for your first home. We work with a range of lenders, and our mortgage specialists are experts in all areas of financing, especially the difficult ones.

Call LHK Mortgages today or fill in the contact form to arrange a no-obligation consultation with one of our dedicated mortgage advisors.