How Much Deposit Do You Need?
In Ireland, first-time buyers need a minimum 10% deposit of the purchase price. For a €350,000 home, that's €35,000.
| Property Price | 10% Deposit | With HTB (€30k) |
|---|---|---|
| €300,000 | €30,000 | €0 + fees |
| €350,000 | €35,000 | €5,000 |
| €400,000 | €40,000 | €10,000 |
| €500,000 | €50,000 | €20,000 |
Saving Strategies
1. Set a Target and Timeline
Work backwards from your target. If you need €35,000 and can save €1,200 per month, you'll reach your goal in about 30 months (2.5 years).
2. Open a Dedicated Savings Account
Lenders want to see a track record of saving. A dedicated deposit savings account shows discipline. Regular standing orders help prove your ability to make monthly mortgage payments.
3. Use a Rent-to-Own or Rent-as-Savings Scheme
Some local authorities and approved housing bodies offer rent-to-own arrangements where part of your rent is credited toward your deposit.
4. Consider the Help to Buy Scheme
If buying a new-build home, the HTB scheme can provide up to €30,000 — dramatically reducing the savings you need.
Local Authority Home Loan
The Local Authority Home Loan (formerly Rebuilding Ireland Home Loan) is a government-backed mortgage for first-time buyers who cannot get a sufficient mortgage from a bank.
- Maximum loan amount: Varies by county (up to €360,000 in some areas)
- Interest rate: Fixed at 3.15% – 3.85% (2026 rates)
- Deposit: As low as 10%
- Eligibility: You must have been refused a mortgage by at least 2 banks
Grants and Supports
Help to Buy (HTB)
Up to €30,000 tax rebate for new-build homes. Read our full HTB guide →
First Home Scheme (FHS)
Shared equity of up to 30% to bridge the gap. Read our full FHS guide →
Local Authority Affordable Housing
Discounted homes via local authorities for eligible first-time buyers. Purchase prices can be 25-30% below market value. Read our affordable housing guide →
Gifted Deposits
Many first-time buyers in Ireland receive help from family. If you receive a gifted deposit, your lender will require a signed letter confirming it is a gift (not a loan). Gifts may also have implications under Capital Acquisitions Tax (CAT) — the small gift exemption is €3,000 per person per year.
Additional Costs to Budget For
Beyond the deposit, budget for these costs:
- Solicitor fees: €1,500 – €3,000
- Survey/engineer's report: €400 – €800
- Stamp duty: 1% of purchase price (up to €1M)
- Valuation fee: €150 – €300
- Lender's booking fee: €0 – €500
- Moving costs: €500 – €2,000
- Total additional costs: €3,000 – €7,000+
2026 Updates
- Local Authority Home Loan interest rates remain competitive at 3.15%–3.85%
- HTB extended through 2026
- No changes to minimum deposit requirements
Local Authority Home Loan: Higher Limits from April 2026
The Local Authority Home Loan (LAHL) is a government-backed mortgage for first-time buyers and 'fresh start' applicants who cannot get sufficient bank finance. From 1 April 2026 the maximum property values increased: up to €415,000 in Dublin, Kildare and Wicklow; €375,000 in Cork, Galway city and Meath; €345,000 in many other counties; and €310,000 in the lowest-cost areas.
The single-applicant income limit rose to €80,000 (joint applicants stay at €85,000), and the loan covers up to 90% of the property value at a fixed interest rate for the full term. You need evidence that two regulated lenders refused you sufficient finance.
Deposit Maths at 2026 Prices
With the national median price at €395,000 (CSO, May 2026), a first-time buyer needs a 10% deposit of €39,500. On a new build, the Help to Buy refund of up to €30,000 can cover most of that — many buyers top up with savings of €10,000–€15,000 plus fees.
In Dublin, where the median is €500,000, the deposit rises to €50,000, and in the most expensive areas (Dún Laoghaire-Rathdown, median €689,325) to about €69,000. Saving €1,200 a month reaches a €39,500 target in roughly 33 months — shorter if you include HTB and any gifted deposit.
Gifted Deposits and Other Sources
- Gifted deposits: common and allowed — lenders usually require a signed gift letter confirming the money is a gift, not a loan.
- Help to Buy: up to €30,000 toward the deposit on a new build (refund of tax already paid).
- Credit union savings: lenders accept a track record of regular saving in any institution.
- First Home Scheme: not a deposit source, but shared equity reduces the total you must fund yourself.
- Rent credit / First Home Savings: check your bank's first-time-buyer savings products for bonus interest.