Mortgages for Public Sector Ireland
If you work in the public sector, Advice First Financial can offer you a mortgage which has been specifically designed for you.
The Public Sector Mortgages Ireland, which are provided by ICS Mortgages & Finance Ireland, are designed for First-time buyers, Second-time buyers and those switching from another lender and possibly releasing equity in their home.
On a joint application, only one applicant needs to be a public sector worker to avail of this offer.

Key Qualifying Criteria For Public Sector Mortgages in Ireland
- All properties must be in the Republic of Ireland
- They house must be used as your Principal Dwelling Houses, that is, it must be your home.
- You must have the required permissions to reside and work in Ireland
- A full valuation of each property is required
- Security, buildings insurance and life cover are required
- Minimum age of applicants is 18 years and maximum age on maturity on the loan is 70 years
- You must have a proven repayment capacity to meet stress test repayments
Please Note
These mortgages are not available for self-builds.

Key Features of Public Sector Mortgages in Ireland
Your basic income will be considered to be two points up your current pay scale. Provided you are not on the point of your scale.
On variable income the following will apply
Overtime: Up to 100% of regular overtime earned may be factored into our assessment if your employer confirms it is regular on your salary certificate.
Allowances: 100% of contractual allowances will be factored in if your employer confirms it is guaranteed and is evident on the most recent Employment Detail Summary and on target income for current tax year
Recently Promoted
Employees who are promoted within the Civil Service on a one year ‘probationary’ period will be considered.
New entrants
New entrants to the Civil/ Public service who are subject to any probationary period will be reviewed on a case-by-case basis. Your previous employment history will be required to establish your experience and suitability for their new position.
The detail of what is available
A range of variable & fixed rates are available.
An overpay facility – you can pay an additional 20% off the loan amount in any 12-month period without penalty whether you are on a fixed or variable rate. This will reduce your mortgage term and the amount of interest you pay.

Mortgage breaks – customers can apply for a 3-month break from their mortgage up to 3 times throughout their mortgage term. This is to give a little breathing space during certain life events such as the birth of a child, and medical or educational expenses.
The mortgage must be drawn down for at least 12 months before applying for a mortgage break.
If you are a Public Sector employee, please contact us and we would be delighted to give you further details of this attractive mortgage package.
Your dream of owning your own home could be closer than you think.
Interested in a Public Sector Mortgage? Call us today in Letterkenny on 074 910 3938
Or
WARNINGS
In accordance with the provisions of the Consumer Credit Act 1995, the following are for your attention:
WARNING
YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT. THE PAYMENT RATES ON THIS HOUSING LOAN MAY BE ADJUSTED BY THE LENDER FROM TIME TO TIME
Note: The above notice in respect of adjustments to repayment rates will not apply during any period when the loan is at a fixed rate.
WARNING
IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME
In accordance with the provision of the Consumer Protection Code (CPC) 2012 the following are for your attention:
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
The following warning applies in the case of variable rate loans:
WARNING
THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE.
The following warning applies in the case of fixed rate loans:
WARNING
YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED RATE LOAN EARLY.
The following warning applies in the case of debt consolidation loans:
WARNING
THIS NEW LOAN MAY TAKE LONGER TO PAY OFF THAN YOUR PREVIOUS LOAN. THIS MEANS THAT YOU MAY PAY MORE THAN IF YOU PAID OVER A SHORTER TERM.
Get Advice
Talk to us now and make an appointment with one of our Letterkenny team of QFAs. We are here to help with your Financial Planning Concerns. Ask us questions on Retirement & Pension, Life Insurance & Protection, Mortgages, and Investment Advice. Get in touch here or give us a call at 074 91 03938.
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Mortgage Services
Mortgage Service & Fee Agreement
Your personal mortgage advisor from Advice First Financial can add significant value to your financial situation.
Mortgage Protection
Mortgage Protection Insurance pays your mortgage when you are not able to work through accident or illness
Mortgage Application
Lenders need certain information, sent to them in a particular order. Talk to us about how to make your application.
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What some of our happy Help to Buy Scheme customers have to say…
Frequently Asked Questions About Mortgages for Public Sector
What exactly is a mortgage?
How do I start the application process?
There are a number of easy ways to begin your application:
Get in touch with a mortgage broker, who will do all the work for you or get in touch with the lenders directly. Obviously, we would recommend the mortgage broker route as they will shop around all the lender and provide you with the best options for you. I would suggest dealing with a fee-based broker though. If the broker is not charging a fee, then they will only deal with lender who pay them a commission, which means you only get options from a select number of lenders rather than the entire market.
What’s a fixed rate mortgage?
With a fixed rate mortgage, your interest rate and monthly repayments are fixed for a set time as agreed between you and the lender. You can choose the best time frame for you.
Although a fixed rate means your repayments cannot increase for a set period of time, your repayments will not fall during the fixed rate period. As a result, you could miss out on lower interest rates and lower repayments. Fixed rates may cost more over the long run, but they offer peace of mind as you know your repayments will not rise during the fixed rate period.
We would recommend speaking with a mortgage broker though, you can discuss all rate options and they will help you decided whether a variable rate fixed rate is right for you. They will also be able to do market research for you on the best rates available for you.
What’s a variable rate mortgage?
Variable rates offer the most flexibility. They allow you to increase your repayments, use a lump sum to pay off all or part of your mortgage or re-mortgage without having to pay any fixed rate breakage fees.
However, because variable rates can rise and fall, your mortgage repayments can go up or down during the term of your loan.
How much will my repayments be every month?
Your repayments will depend on how much you borrow, the term or length of your mortgage as well as the interest rate that you’re charged. See this handy online Mortgage Calculator for an indication of how much your monthly repayments might be. We would recommend speaking with a mortgage broker though, you can discuss all rate options and they will help you decided whether a variable rate fixed rate is right for you. They will also be able to do market research for you on the best rates available for you.
What’s the minimum amount I can borrow?
The minimum loan amount you can borrow for a mortgage approx. €40,000. The minimum loan amount for a top-up, can also be called a further advance, is €25,000.
What’s the maximum amount I can borrow?
When giving you a mortgage, lenders use different criteria to decide how much they are willing to lend you and they must follow specific Central Bank of Ireland rules when doing this.
The Central Bank of Ireland’s rules apply limits to the amount that lenders in the Irish market can lend to mortgage applicants. These limits apply loan-to-income (LTI) ratios and the loan-to-value (LTV) ratios for both family homes and buy-to-let properties and are in addition to the lenders’ individual credit policies and conditions. For example, a lender may have a limit to the percentage of your take home pay that can be used for mortgage repayments.
How long will my mortgage last for?
Every mortgage has a life span or term. The minimum term would be 5 years and you could also possibly qualify for the maximum term possible which is 35 years. For a family home the maximum term of the mortgage is determined by your age. The maximum to have the loan repaid is age 68 with some lenders and age 70 with others. For Buy to Let mortgages have a maximum term of 25 years.
A shorter term means you’ll pay your mortgage off quicker, but it also means your monthly repayments will be higher. It is good advice to clear your debts, including your mortgage, as quickly as you can, it is also important to have a life and have to money to do all the other things in life that are important. So, striking the right balance is very important.
What documents do I need to make a mortgage application?
You will need certain documents when you apply for a mortgage, and you should keep a copy of anything you give to a lender or broker.
Proof of ID, proof of address and proof of your Personal Public Service Number (PPSN)
Proof of income: latest P60, payslips, certified accounts if self-employed
Evidence of how you manage your money such as current and loan account statements for the last three to 12 months, depending on the lender
Her is Permanent TSB’s full list of documents required here.
Her is AIB’s full list of documents required here.
You can see that the lists are very similar, which is the same with all other lenders.
These lists will not be complete for everybody as they do not take account of your individual circumstances.
What’s a loan-to-value (LTV) ratio?
LTV, or loan-to-value, is all about how much mortgage you have in relation to how much your property is worth. It’s normally a percentage figure that reflects the percentage of your property that is mortgaged, and the amount that is yours (the amount you own is usually called your equity).
For example, if you have a mortgage of €150,000 on a house that’s worth €200,000 you have a loan-to-value of 75% – therefore you have €50,000 as equity.
So, the lenders set LTV limits, which means you need to have a deposit of a certain amount before you can get a mortgage. There are different limits in place depending on what category of buyer you are.
- First-time buyers need to have at least a 10% deposit
- Second and subsequent buyers need to have at least a 20% deposit
- Buy-to-let buyers need to have at least 30% deposit
Lenders have a limited amount of discretion when it comes to these limits and in a calendar, year can make exceptions for:
- 5% of the value of mortgages for first-time buyers
- 20% of the value of mortgages to second and subsequent buyers
- 10% of the value of buy-to-let mortgages
These rules don’t apply to switcher mortgages and housing loans for restructuring mortgages that are in arrears and pre-arrears.
What is the Loan to income limits?
Lenders have a certain amount of discretion when it comes to mortgage applications. For first-time buyers, 20% of the value of mortgages a lender approves can be above this limit and for second and subsequent buyers 10% of the value of those mortgages can be above this limit.
How much can you afford to borrow?
When making a mortgage application it can be tempting to apply for the maximum amount possible. However, you need to make sure you will be able to cope with future events such as an increase in interest rates, having children, redundancy or illness.
You can use this budget planner to work out what you can afford to repay each month and make sure to include a regular amount for ‘unforeseen expenses’. You can use our mortgage calculator to see how much your monthly mortgage repayments would be.
If you have other loans or debt, your lender may offer you a lower amount, ask that you pay off these loans or refuse your application.
The shorter the term of your mortgage, the higher your monthly repayments, but you will pay less interest in total. With a longer-term mortgage your monthly repayments will be lower, but you will pay more in interest over the lifetime of the loan.
Example:
MORTGAGE AMOUNT | TERM | INTEREST RATE | MONTHLY REPAYMENTS | TOTAL COST OF CREDIT |
€200,000 | 20 years | 3% | €1,109 | €66,206 |
€200,000 | 25 years | 3% | €948 | €84,526 |
€200,000 | 30 years | 3% | €843 | €103,554 |
Difference in cost of credit between 20- and 30-year terms | €37,348 |
Even a small difference in interest rates can have a big impact on the overall cost of a mortgage.
MORTGAGE AMOUNT | TERM | INTEREST RATE | MONTHLY REPAYMENTS | TOTAL COST OF CREDIT |
€200,000 | 20 years | 3% | €1,109 | €66,206 |
€200,000 | 20 years | 2.5% | €1,059 | €54,353 |
Difference in cost of credit between interest rates | €11,853 |
Example:
When you apply for your mortgage, and over its lifetime, it is important to get the lowest rate possible as it can lead to significant savings.
As well as mortgage repayments there are other costs to consider when it comes to buying a home
What are the other Mortgage fees and charges?
When buying a property, or switching your mortgage, it is not just your regular mortgage repayments you need to think about. There are a number of other costs involved which you should be aware of and ask your lender about. Some of these can be reduced or avoided by shopping around.
They include:
- Brokers’ fees – some brokers charge a fee to arrange your mortgage or for mortgage advice. This might be a percentage of the mortgage amount or a flat fee. Not all brokers charge a fee so if you are planning to use a broker it is important to ask about this and to shop around. If a broker is not charging a fee, check with them what lenders they advise on. They may only work with lenders who pay them commission and you may not get a full market comparison.
- Estate agent fees – if you are selling a property and using an estate agent you will have to pay a fee for this service. It is usually between 1% and 2.5% but can also be a flat rate.
- Solicitor’s fees – to look after the legal aspects of your mortgage a solicitor will charge a flat fee or a percentage of the mortgage amount, typically 1% to 2%. It is worth shopping around a few solicitors.
- Valuation fee – this is paid to a professional valuer to estimate a property’s market value and is required by the lender as part of your mortgage application. A valuation is valid for a short period of time, typically four months. You will need to get an up-to-date valuation of your property if you want to switch mortgage. Valuation fees typically run between €150 and €185.
- Structural survey fee – a structural survey is done to find out the condition of a property. If any issues arose during the valuation of the property or it is very old, your lender may insist on a structural survey. Even if your lender does not require it, you may want to get a survey anyway to be sure there are no problems with the building. The amount you will pay can be dependent on the type, age and location of the property. It is not always a requirement for the lender, but it is always recommended to have a structural survey done for your own peace of mind.
- Stamp duty – this is a tax payable on documents when you transfer ownership of a property. For residential property it is charged at 1% of the property value up to €1 million and 2% for anything above that.
- Local Property Tax – this tax, collected by Revenue, is charged on all residential properties and came into effect in 2013. It is a self-assessment tax, and you calculate what is due based on your own assessment of the market value of your property. It can be paid in a lump sum or spread out over the year.
You should take the above into account when you are working out how much you will be able to borrow.
What is the stamp duty payable on mortgages?
What are lenders' normal lending criteria for a mortgage?
Every lender will look at various criteria before deciding whether to approve a mortgage. Some of the main factors that are taken into account are:
- A good credit history.
- Being aged 18 or over.
- Age not greater than 70 at the end of the mortgage term. With some lender this age is 68.
- Ability to repay – as a guide mortgage repayment on all loans including your mortgage should not exceed 35% of your net income
- Secure employment.
- Continuous employment at least 12years.
- Self-employment for at least 2 years, some lenders require 3 years.
- Good bank account management
With all lenders the primary focus is on your repayment capacity.
How much of a deposit do I need?
All lenders must follow Central bank deposit rules, which require a 10% deposit for first time buyers. So, if the value of your property is €200,000, you’d need a deposit of €20,000. This deposit can come by way of a gift, or part gifted, if you are lucky enough to have some-one willing and able to help you out. Borrowing for your deposit will not be acceptable to your mortgage lender, no matter where you are borrowing for.
What else should I bear in mind when taking out a mortgage?
You’ll generally need to arrange home insurance and mortgage protection before drawing down your loan.
Home insurance is a property insurance which covers private homes, buildings and contents. The cost of home insurance often depends on what it would cost to rebuild your house and how much it would cost to replace all of the contents of the house. The replace value of your property may be more than the purchase price.
When taking out a mortgage you’ll also need to consider how it’ll be paid off in the unlikely event of your death before the mortgage has been fully repaid. When you get a mortgage to buy your home, you’ll generally be required by your lender to take out mortgage protection. This is a particular type of life assurance taken out for the term of the mortgage and is designed to pay it off on the death of the borrower or joint borrower before the end of the mortgage term.
What is the timeline for the mortgage process?
Wherever you are on your mortgage journey, whether you’re ready to make an application, or just want to ask some questions – we’re here to support you so book an appointment today with our mortgage team!
We’ll outline the mortgage process and the required documents you’ll need for your application and you can then gather and submit the documents required at a time that suits you, allow 1-2 weeks for gathering these documents.
Once the lender receives your application and supporting documentation, they will get back to you in 3 working days to let you know if it’s ready to go to our underwriting team for a full assessment, or if they need any further documents or information from you first.
Once they submit the documents to their underwriting team for full assessment, they will let you know if they can approve your application within 10 working days. In the rare event that they can’t come to a decision in that timeframe, they will be in touch to let you know and to inform you of when they will have a decision.
If you are using a mortgage broker the lenders will communicate this update to them who will in turn communicate with you.
Once your application for credit is approved, (called approval in principle, AIP) and you have found your home, you will be required to arrange for a valuation of your property. A credit check will also be undertaken on all applicants of the mortgage, and you will need to arrange Life Insurance and Home Insurance. Your lender will issue the loan offer to your solicitor and once you sign the documents, your solicitor will arrange the transfer of funds and collection of your keys to your new home.
Call us today in Letterkenny: 074 910 3938
All Irish Mortgages are regulated by the Central Bank. For more on these Mortgage Measures visit centralbank.ie