Best Mortgage Rates In Northern Ireland Comparison

Whether you’re looking to buy your first home in Northern Ireland or purchase another one there, you’ll want to know you’re securing the best interest rate available.

In this guide, you’ll learn what rates are typically available for various types of mortgage. As a starting point, take a look at our rates table below to get a rough idea about what to expect for residential mortgages in Northern Ireland.

Please note that all rates cited in these tables are purely for example purposes, were accurate at the time of writing and can be subject to change at any time at the lender’s discretion.

How to compare mortgage rates in Northern Ireland

The best way to do this is to find a mortgage broker who specialises in the Northern Irish market. That way, you will have access to independent advice and a much wider range of accessible rates and deals.

Make an enquiry and we’ll match you with a broker who has the knowledge and experience you need.

Your hand-picked mortgage expert will guide you through the following steps…

• Fact finding to determine the best type of mortgage for you
• Searching the entire Northern Irish market for the best rates
• Completing the paperwork and finalising your application.

Your initial consultation with your broker will be free with no obligation to proceed, and it won’t leave any marks on your credit report.

Will the rates be any different to the rest of the UK?

No, not in the sense that a mortgage lender will have one rate for Northern Ireland and a different rate for the rest of the UK. What you will notice however is that there are fewer lenders operating overall in Northern Ireland, and this means you have fewer deals to choose from.

Someone buying a house in another part of the UK may therefore be able to find a cheaper rate on their mortgage than you can find in Northern Ireland, because you won’t have access to as wide a range of options.

You may also find that some lenders will operate postcode restrictions, so will only lend on properties in certain parts of the country.

Best first-time buyer deals

In most cases, first-time buyers will want to focus on the best mortgage deals which offer a higher loan-to-value. This means you’re not required to pay a high deposit.

The following deals are available at the time of writing (March 2023) and all require a 10% deposit:

• Progressive Building Society has a 3.63% 2-year discounted variable-rate deal (collared at 1%) with no product fee available on mortgage loans from £30,000 and upwards
• HSBC has a 5 year fixed-rate deal at 4.56% with a £1499.00 product fee available up to a maximum loan of £550,000
• Leeds Building Society also has a 5-year fixed-rate deal with a slightly higher interest rate of 4.59% but with a lower product fee of £999.00

*All the above rates and terms are subject to change at any time at the lender’s discretion*

Best remortgage deals

At the time of writing, the following remortgage rates were available in Northern Ireland, all based on a 70% loan to value (LTV). They are all advertised with free legals and valuation as standard – this isn’t the case with ‘every’ mortgage deal in Northern Ireland, so check with your broker on this if that’s not clear on any deal you’ve seen or looked at.

• Yorkshire Building Society has a 5 year fixed rate mortgage available at 3.98%. The product fee for this one is £1,495.
• Virgin Money has a 10 year fixed option at 3.99% with a £995 product fee.
• If you like the idea of a fixed rate but don’t want to commit to 5 or 10 years, Bank of Ireland has a 2 year fixed mortgage at 4.39% with a £999 product fee.
• If you’d prefer a variable rate, Nationwide currently has a 2 year tracker mortgage at 4.34% with a £999 fee.

*All the above rates and terms are subject to change at any time at the lender’s discretion*

Best buy-to-let mortgage rates in Northern Ireland

To give you an idea of the best rates on buy to let mortgages in Northern Ireland, the following deals were available at the time of writing, all based on a 75% LTV and an interest only mortgage:

• Barclays has a 5 year fixed rate deal at 4.65% with product and other fees totalling £1,615.
• Kensington has a 5 year fixed rate mortgage at 4.99% but the completion fee is 5%, so this could be pricey depending on how much you’re borrowing. They offer a similar product on a flat fee of £1,999 but a rate of 5.79%. Kensington does have more flexible criteria around credit issues though if this is something that affects you.
• If you’re happy to tie in for a longer period, Virgin Money has a 10 year fixed option at 4.79% with a £995 fee.
• If you’re not keen on fixing for that long, HSBC has a 2 year tracker at 4.69% with a product fee of £1,999.

*All the above rates and terms are subject to change at any time at the lender’s discretion*

Typical rates for a self-build mortgage

Self-build mortgages are perceived by lenders as much riskier than a standard residential mortgage and so the terms are different accordingly – most lenders will require a higher deposit and rates will be higher too.

To give you an idea of the rates you can expect, at the time of writing, (March 23):

• AIB offers a self-build mortgage in Northern Ireland with a maximum LTV of 75% and an interest rate of 7.20%.
• The Progressive Building Society has a 3 year variable self build mortgage with a maximum LTV of 80% at 6.29%, reverting to 7.59% (variable) after the initial deal period.

*All the above rates and terms are subject to change at any time at the lender’s discretion*

Why use Online Money Advisor?

Simply put, because we can help you save time and money by matching you with the right mortgage broker for free.

To make sure you get the best rates you can, regardless of what type of mortgage you’re looking for, we recommend finding a broker who has experience of the market in Northern Ireland. They’ll be able to help you choose the right lender and deal for you and will understand how mortgages in Northern Ireland might be different from other parts of the UK.

Give us a call now on 0808 189 0463 or make a quick online enquiry. We’ll take you through a few simple questions to better understand your circumstances, and then we’ll arrange a free, no obligation chat with the broker that we think is best placed to help you.