How to buy a house in Ireland from mortgage to drawdown

Wondering how to buy a house in Ireland? Whether you’re saving for a deposit or ready to start house hunting, this step-by-step guide explains exactly what to expect, from mortgage approval to getting your keys.

Buying a house in Ireland involves getting mortgage approval, finding a property, making an offer, finishing every legal check, and drawing down your mortgage. The full home buying process can take a few months from approval to getting your keys.

What are the steps in buying a house in Ireland

The good news is that once you understand the steps, it becomes much easier to manage. In this guide, we’ll walk you through the journey from getting your mortgage in place to drawing it down and collecting your keys.

Step 1: Get your finances ready

Before you start viewing homes, take some time to understand your budget. First time buyers in Ireland can usually borrow up to 90% of the property value. This means that the first-time buyer deposit in Ireland is generally at least 10%. If you are just starting out in saving for your deposit, you can use some of our tips on how to save for a mortgage in Ireland.

You’ll also need savings for other costs like legal fees, surveys and stamp duty. If you want a deeper breakdown, take a look at our guide to the hidden costs of buying a house in Ireland.

Step 2: Get Mortgage Approval in Principle

Next, apply for Approval in Principle (AIP). This is a letter from a lender showing how much you may be able to borrow. It’s a key step because:

• It will set your budget
• It shows sellers you’re a serious buyer
• Many estate agents will expect it before taking an offer

AIP is not full approval, but it gives you the confidence to start house hunting. Generally, this part of the process can take a few weeks depending on how quickly your documents are reviewed. If you’re new to the process, our full first time home buyer guide is a good place to start.

Step 3: Start house hunting and make an offer

Once you have AIP, you can begin your search. What to look for when buying a house in Ireland:

• Location and transport links
• Property condition and BER rating
• Nearby amenities like schools and shops
• Future developments in the area

When you find the right home, you make an offer through the estate agent. If it’s accepted, the property becomes “sale agreed”. At this stage, you usually pay a booking deposit. This shows intent, but the sale is not legally binding yet.

Step 4: Full mortgage approval and legal process

Once your offer is accepted, you move to full mortgage approval.Your lender will:

• Review your finances in detail
• Arrange a property valuation
• Issue a formal loan offer

At the same time, your solicitor will:

• Review contracts and title deeds
• Check planning permissions and legal details
• Guide you through signing contracts

This is where the process becomes more formal, and you’ll also arrange:

• Mortgage protection insurance
• Home insurance

Step 5: Understanding key mortgage jargon

A few common terms you’ll come across:

• Loan Offer: Your formal mortgage approval
• Drawdown: When your lender releases the money to buy the home
• LTV (Loan to Value): The percentage you borrow compared to the property price
• Fixed Rate: Your interest rate will stay the same for a set period

Understanding these early makes the whole process feel much easier. For the full list of mortgage terms you should know, check out our first time buyer guide.

Step 6: Final checks before mortgage drawdown

Before your mortgage is released, there are a few final checks. These generally include:

• Insurance policies in place
• Legal checks completed by your solicitor
• Property valuation confirmed
• Contracts signed

Once everything is in order, your solicitor will request the mortgage funds.

Step 7: Mortgage drawdown and getting your keys

Mortgage drawdown is the final step.This is when your lender releases the funds to your solicitor who then engages with the vendor’s solicitor to complete the transaction. Once the transaction is completed, you can collect your keys.

From your initial application to getting your keys, the full process often takes a few months, depending on individual circumstances.

Common mistakes when buying a house in Ireland

While buying a house in Ireland is easier once you understand the home buying steps, there are a few common issues that if you avoid, can make the whole process feel much smoother. The most common mistakes when buying a house in Ireland usually will relate to mortgage timing, budgeting, and delays during approval.

Some of these include:

• Bidding before getting mortgage approval in principle
• Submitting documents that are not complete during mortgage approval
• Changing jobs or taking on new debt during the process
• Delays with property valuation, property survey, or any legal check
• Underestimating costs such as legal fees, stamp duty, and expenses when you move into the property
• Overbidding beyond what you can afford
• Not considering repair costs, location, or whether the property is mortgageable and/or insurable

To avoid these issues and give yourself the most positive mortgage experience, it can help to get mortgage approval early, plan for all costs, and keep your financial situation stable throughout the process.

Choosing the right mortgage

When choosing your mortgage, it’s worth thinking about what matters most to you. For example, Avant Money’s One Mortgage is designed to offer certainty, with Ireland’s only fixed mortgage rate that will stay the same for the entire lifetime of your mortgage1. This means you will never have to worry about your repayments changing for your entire mortgage term.

The One Mortgage also includes a 1% cashback option at drawdown*, which can help with some of the extra costs that come with buying a home.

If you are just starting out on your mortgage journey, why not use our Mortgage Calculator to get an estimate in minutes.

1 One Mortgage unique/only claim and claim of competitive follow-on variable rates based on comparison against competitor mortgage products as advertised on their websites at 1st June 2026. One Mortgage is designed to give a fixed rate for the full mortgage term (between 5 and 30 years), whereas competitor fixed rate mortgage products are designed to provide a fixed rate for a set number of years (between 1 and 10), following which they revert to a managed variable rate or a new fixed rate.

* Cashback is available on a New or Top-Up Mortgage drawn down between 1 January 2026 and 31 December 2026. For phased drawdown mortgages, the cashback amount will be calculated based on the initial mortgage drawdown amount.

Lending criteria and terms and conditions apply. The monthly repayment on a 20-year mortgage with Loan to Value (LTV) greater than 80% with variable borrowing rate of 3.95% on a mortgage of €100,000 is €603.35 for 240 months. Total amount repayable is €145,028.74. If interest rates increase by 1% an additional €53.85 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 4.0% applies and consists of variable borrowing rate of 3.95%, valuation fee of €185, and security release fee of €40.

LTV is the amount borrowed as percentage of the value of your home. Information correct at 1st June 2026 and subject to change. You mortgage your home to secure the loan. Maximum loan is generally 3.5 times gross annual income (4.0 for first time buyers) and 90% of the property value (80% for switchers). Applications from residents of ROI over the age of 18 only, and subject to repayment capacity, financial status and property valuation. We require property and life insurance.

Bankinter S.A. trading as Avant Money, is authorised by the Banco de Espana in Spain and is regulated by the Central Bank of Ireland for consumer protection rules.