Glossary

Abhaile

Free legal and financial advice for people in mortgage arrears on their home, run through MABS, with a solicitor or a personal insolvency practitioner where needed. Free money help →

Affordable purchase

Homes sold by a council or the LDA below the market price to people whose income cannot reach the full price. The State keeps a share of the value, which you buy out later. Affordable purchase →

Agent's appraisal

An agent's view of what your home might sell for, usually free and given to win the work. Not a formal valuation; the Property Price Register shows what nearby homes actually sold for. What your home is worth →

Annual exemption (CGT)

The first €1,270 of gains in a year is free of capital gains tax, for each person. A couple selling together each has one. Work out the tax →

Approval in principle (AIP)

A lender's letter saying how much it would lend you, based on your income and savings, usually good for six months. It is not a loan offer: that comes once you have a particular home. Approval in principle →

APRC

The annual percentage rate of charge: the rate plus the fees, over the whole term, as one figure. Use it to compare offers; the headline rate alone can mislead.

Architect

Designs your build or extension and applies for planning. The title is protected in law: check the RIAI register. The architect →

Architectural technologist

A designer who prepares drawings and planning applications and may certify stages on a self-build. Not the same as a registered architect: ask what they are able to sign for your lender. The architect →

Arrears

Mortgage payments that are late or missed. Under the Central Bank's Code of Conduct on Mortgage Arrears the lender must work through a set process with you before anything else. Free money help →

Auction

A sale where the highest bid on the day wins and the contract is signed there and then, with 10% paid. The survey, the legal pack and your mortgage approval all come before the day. Buying at auction →

Auctioneer

An estate agent who sells by auction; many Irish agents use the word for the whole trade. The same PSRA licence and the same rules on fees apply. The estate agent →

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Building Control (Amendment) Regulations (BCAR)

The building control rules for a new home and a large extension: an assigned certifier (an architect, engineer or surveyor) inspects the build and signs a certificate of compliance on completion. A lender wants it on a self-build. How to self-build →

BER advisory report

The report that comes with a BER certificate, listing the upgrades that would raise the rating. It comes free with the assessment. BER ratings explained →

BER assessor

The only person who can issue a BER certificate: an assessor on SEAI's register. Typically €225 to €400. The BER assessor →

Booking deposit

The sum, usually €5,000 to €10,000, you pay the agent when you go sale agreed. It is refundable until contracts are signed and counts towards the price. The booking deposit →

Breakage fee

What a lender may charge if you repay or switch a fixed-rate mortgage early. It depends on how rates have moved since you fixed; it can be nothing.

Bridging loan

A short loan that covers the gap when you buy a new home before the old one is sold. Since April 2026 a bridging loan on your home is not counted in the 3.5 times income limit. Bridging loans →

Building Energy Rating (BER)

A rating from A1 (the highest) to G of how much energy a home uses, on a certificate that must be shown before a home is advertised for sale or rent. A B3 or better usually unlocks a green mortgage rate. BER ratings explained →

Building surveyor

A chartered surveyor (on the SCSI's register) who inspects a home's condition for you after sale agreed. A survey is typically €300 to €600 plus VAT. The survey →

Buy-to-let

A home bought to rent out. The Central Bank allows a loan of up to 70% of the price and sets no income multiple; lenders test the rent against the repayment instead. Buy-to-let mortgages →

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Capital acquisitions tax (CAT)

Tax on a gift or an inheritance above a lifetime threshold. A gift from a parent is in group A, with a threshold of €400,000 since Budget 2025, and the first €3,000 a year from any person is exempt. Check the current figures with Revenue. Gifts and the deposit →

Capital gains tax (CGT)

Tax on the gain when you sell a property, at 33% (31% announced for sales from 7 October 2026). A home that was always your main residence is relieved in full. CGT when you sell →

Cashback

A sum, often 1% to 3% of the loan, a lender pays you at drawdown. It usually comes with a slightly higher rate and a clawback if you switch again soon. Is cashback worth it? →

Cashback clawback

The lender taking back some or all of the cashback if you switch away or clear the loan within a set number of years. The number of years is in the loan offer. Cashback →

Central Bank mortgage measures

The rules that cap how much lenders can lend: 4 times income for a first-time buyer, 3.5 times for others, and 90% of the price (70% for buy-to-let), with a share of lending allowed above the caps. The rules →

Central Bank register

The public list of every firm the Central Bank regulates: lenders, brokers and insurers. A broker not on it may not arrange a mortgage for you. Broker or bank →

Central Credit Register

The Central Bank's record of loans and how they were repaid. Lenders read it before approving a mortgage. You can get your own report free and ask for errors to be fixed. Your credit check →

Certificate of compliance

An architect's or engineer's written confirmation that a home, or an extension, matches its planning permission and the building regulations. Your solicitor asks for it on an older home with an extension, and the lender on a new build.

CG50 clearance certificate

A Revenue certificate a seller needs on a sale above the threshold (€1 million for a home), otherwise the buyer must hold back 15% of the price and pay it to Revenue. The CG50 →

Chain

A line of linked sales where each buyer needs their own sale to close first. One delay moves every closing in the line. Selling and buying together →

Closing

The day the money moves and you get the keys. Your solicitor draws down the loan, pays the seller and collects the keys from the agent. Closing day →

Closing searches

Checks your solicitor runs on closing day against the seller and the property, for judgments, bankruptcy or a planning problem that would stop the sale. Part of the outlays. Closing day →

Code of Conduct on Mortgage Arrears

The Central Bank's rules for how a lender treats a home loan in arrears. It sets the MARP and limits how often the lender may contact you. It covers your home, not a buy-to-let. Help with arrears →

Consumer Protection Code

The Central Bank's rules for how lenders and brokers treat you. The 2025 Code, in force since 24 March 2026, makes a lender tell you what you could save on a lower rate it offers, including when a fixed rate ends. When a fixed rate ends →

Contract deposit

The 10% of the price paid when contracts are signed, less the booking deposit already paid. From then on the deal is binding.

Contracts for sale

The legal document from the seller's solicitor that both sides sign, on the Law Society's General Conditions of Sale 2023 with special conditions added. You pay 10% on signing and the deal is binding from then. Signing contracts →

Conveyancing

The legal work of moving a home from one owner to another: checking the title, the contract, the planning, and moving the money. Done by a solicitor. The conveyancing solicitor →

Croí Cónaithe

The Department of Housing's fund for homes in towns and cities. It pays the Vacant Property Refurbishment Grant, through each county council. The vacant property grant →

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Deposit

The part of the price you pay yourself: at least 10% under the Central Bank rules, more where a lender asks. Savings, a gift and Help to Buy can all count. How much deposit →

Drawdown

The lender releasing the mortgage money to your solicitor for closing. On a self-build it happens in stages as the build goes up. Drawdown →

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ECB deposit rate

The rate the European Central Bank pays banks on money they leave with it. It is the rate most tracker mortgages follow: 2.50% since 16 September 2026. ECB rates and your mortgage →

Engineer

A chartered engineer (Engineers Ireland) who can survey a home, design a build, certify each stage of a self-build and sign the certificates a lender and a solicitor need. The structural survey →

Engineers Ireland

The professional body for engineers, which awards the chartered engineer title. Lenders accept a chartered engineer's stage certificates on a self-build. The structural survey →

Equity

What your home is worth minus what you owe on it. Negative equity is the other way round: the loan is bigger than the value.

Equity release

Taking money out of the value of a home you own, by a loan repaid when the home is sold or you die, or by selling a share of it. Offered to older owners. The cost builds up over the years. Mortgages over 50 →

Equity share

A share of your home's value the State or a lender holds in return for part of the price, as in the First Home Scheme. You buy it back later at the value then, not the sum you got. The First Home Scheme →

Estate agent

The person who markets a home and takes offers for the seller. Must hold a PSRA licence and give you a letter of engagement. Fees typically 1% to 2.5% plus VAT, or a fixed fee. The estate agent →

Exempted development

Work you can do without planning permission, such as an extension of up to 40 square metres at the back of a house, within limits on height and the garden left over. Planning permission →

Exemption (mortgage)

A loan above the Central Bank limits. Each lender may give these to a share of its borrowers in a year (15% of first-time buyer lending); it is at the lender's choice, never a right. Exemptions →

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Family Home Protection Act

The 1976 law that stops one spouse selling or mortgaging the family home without the other's written consent, whoever owns it. Civil partners have the same protection under a later Act. Selling after separation →

First Home Scheme

The State and the banks take a share of up to 30% of a new home's price (20% with Help to Buy) in return for a share of its value. There is a price ceiling per county and a service charge after year five. The First Home Scheme →

First-time buyer

Someone who has never owned a home, in Ireland or anywhere. The definition differs slightly between the Central Bank rules, Help to Buy and the First Home Scheme. Who counts →

Fixed rate

An interest rate that stays the same for a set period, usually one to ten years. At the end the lender moves you to a variable rate unless you fix again or switch. Fixed or variable →

Fixed rate ending

When your fixed period runs out, the lender moves you to a variable rate unless you fix again or switch. The lender must write to you before it ends and show what you could save on a lower rate it offers. Set a reminder →

Folio

The page in the Land Registry at Tailte Éireann that records who owns a property, with its map and any mortgage on it. Most homes have one; some older homes are on unregistered deeds instead.

Fresh Start

A route into the First Home Scheme and the Local Authority Home Loan for someone who owned a home before but has no interest in one now, after a separation, a divorce or an insolvency. Who counts →

Financial Services and Pensions Ombudsman (FSPO)

The free service that decides complaints against lenders, brokers and insurers, once you have complained to the firm first and had its final answer. Free money help →

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Gazumping

A seller taking a higher offer after going sale agreed with you. It is lawful in Ireland until contracts are signed. Gazumping →

General Conditions of Sale

The Law Society's standard terms for selling a home, the 2023 edition, that nearly every contract uses. Special conditions change them for one sale. Signing contracts →

Gift letter

A letter from the person giving you deposit money saying it is a gift, not a loan, with nothing to repay. Lenders ask for it. A large gift may count for capital acquisitions tax. The gift letter →

Green mortgage

A lower rate for a home with a good BER, usually B3 or better. Nearly every new build qualifies. Green mortgages →

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Help to Buy

A refund of income tax you paid, up to €30,000 (€35,000 announced from 2027), towards the deposit on a new build or self-build for a first-time buyer. Paid to the builder, not to you. Help to Buy →

Help to Buy clawback

Revenue taking back some or all of your Help to Buy if you do not live in the home for five years from moving in. Selling or letting within that time sets it off. The clawback →

Home insurance

Cover for the building and your things against fire, flood, storm and theft. The lender wants it in place from the day you sign contracts. Insure for the rebuild cost, not the price. Home insurance →

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Income multiple

The number of times your gross yearly income a lender may lend under the Central Bank rules: 4 times for a first-time buyer, 3.5 times for anyone else. A lender may lend less than the limit. Check my limit →

Interest-only

Paying only the interest each month and none of the loan itself. A self-build mortgage is usually interest-only while the build is going up. Plan my build →

Insolvency Service of Ireland (ISI)

The State body that runs the personal insolvency arrangements and keeps the register of practitioners. Its site explains each option in plain words. Free money help →

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Joint tenants and tenants in common

Two ways to own a home together. Joint tenants own the whole home together and the survivor takes all of it. Tenants in common each own a share that passes under their will. Buying with a partner →

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Law Society of Ireland

The body that keeps the register of solicitors and publishes the General Conditions of Sale. Check the register before you engage a solicitor. The conveyancing solicitor →

Land Development Agency (LDA)

The State body that builds homes on public land. Some are sold through affordable purchase, with the State keeping a share of the value. Homes are offered through affordablehomes.ie. Affordable purchase →

Legal contribution

A sum a lender pays towards your solicitor's fee when you switch to it, often €1,000 to €2,000, instead of or as well as cashback. The cost of switching →

Letter of engagement

The written agreement an estate agent must give you before acting: the fee, the VAT, the marketing costs, the type of agency and how long it runs. Required by the PSRA. Choosing an agent →

Loan offer

The lender's formal offer on a particular home, with conditions (insurance, a valuation, sometimes a letter from your employer), usually valid for six months. The loan offer →

Loan-to-income (LTI)

The loan divided by your gross yearly income. The Central Bank caps it at 4 for a first-time buyer and 3.5 for others.

Loan-to-value (LTV)

The loan divided by the price (or value). The Central Bank caps it at 90% for a home you will live in and 70% for a buy-to-let. A lower LTV usually gets a lower rate.

Local adjustment factor

The county council's change to the basic LPT charge, up to 15% up or down each year. Dún Laoghaire-Rathdown takes 15% off; Cork City adds 12%. Find my band →

Local Authority Home Loan

A mortgage from your county council for people on modest incomes who have been turned down by two lenders, at a rate fixed for the whole term. The council loan →

Local Property Tax (LPT)

A yearly tax on a home, set by its value band on 1 November 2025 and adjusted by up to 15% either way by the county council. LPT bands →

Long-stop date

The last date in a new-build contract by which the builder must finish. Before it, delays are usually allowed. After it you may be able to walk away with your deposit. Buying a new build →

LTV bands

The steps a lender uses to price a loan by its size against the value, for example up to 60%, 60% to 80%, 80% to 90%. A lower band usually means a lower rate. Compare rates →

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MABS

The Money Advice and Budgeting Service: free, confidential help with debt from the State, with offices in every county and a helpline. Free money help →

Owners' management company (OMC)

The company every apartment owner joins that owns the shared parts: the roof, the lifts, the stairs, the grounds. It charges a yearly management fee for insurance, upkeep and a fund for big repairs. The cost of owning →

Mortgage Arrears Resolution Process (MARP)

The steps every lender must follow with you when you are in or near arrears: contact, a statement of your finances, a look at the options, a decision in writing and a right to appeal. Free money help →

Median price

The middle price of all homes sold: half sold for more, half for less. €396,000 across Ireland in the twelve months to June 2026, from the CSO. House prices →

Mortgage broker

A go-between who applies to several lenders for you. In most cases the lender pays the broker; any fee you pay must be in writing before you engage them. Check the Central Bank's register. The mortgage advisor →

Mortgage interest tax credit

A credit of 20% of the rise in your mortgage interest since 2022, up to €625 a year, for 2023 to 2026. 2026 is the last year. The interest credit →

Mortgage protection insurance

Life cover that pays off the mortgage if you die. The law requires it on nearly every home loan; you can buy it from any insurer, not just the lender. Mortgage protection →

Mortgage term

The number of years over which you repay the loan. A longer term means a lower monthly payment and more interest in total. Lenders set a maximum age at the end of the term, usually 65 to 70. Work out my repayments →

Mover (second and subsequent buyer)

Anyone who has owned a home before, in Ireland or abroad. Under the Central Bank rules a mover may borrow up to 3.5 times income and 90% of the price. Second-time buyers →

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Negative equity

Owing more on the mortgage than the home is worth. You can still sell, with the lender's consent; what is left over stays as a debt. MABS can help before you decide. Selling with a mortgage →

Net disposable income (NDI)

What is left of your take-home pay each month after the mortgage and your other loans. Each lender wants a minimum, which depends on how many people the money supports. It is one of the tests a lender adds to the Central Bank limits.

Net proceeds

What you walk away with when you sell: the price less the agent, the solicitor, the BER, the mortgage paid off, any breakage fee and any capital gains tax. Work out my proceeds →

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One-stop shop

An SEAI-registered company that plans a full energy upgrade of your home, does the work and claims the grants for you, so you pay the net cost. SEAI grants →

Outlays

The sums your solicitor pays out for you on top of the fee: registration at Tailte Éireann, searches, commissioner's fees. Typically €400 to €1,200 on a purchase. Solicitor fees →

Overpayment

Paying more than the monthly amount. On a variable rate there is no limit; on a fixed rate most lenders allow 10% of the balance a year without a breakage fee. Overpaying →

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Percolation test

A test of how well the ground on a site takes away water, needed with a planning application for a site with a septic tank. A site that fails may not get permission. Buying a site →

Personal insolvency arrangement (PIA)

A court-approved deal with your lenders over debts that include a mortgage, set up by a personal insolvency practitioner. It can keep you in your home while the rest is sorted. Free money help →

Planning permission

The county council's permission to build, extend or change the use of a building. Needed for a new home and for most extensions. The council has set times to decide, and anyone can object. Planning permission →

Porting

Taking your mortgage rate with you when you sell one home and buy another. Some lenders allow it; the new loan is still tested under the rules and on your income. Trading up →

Power of attorney

A document that lets someone sign for you, used when you buy or sell from abroad and cannot be here. Your solicitor draws it up. Buying from abroad →

Price ceiling (First Home Scheme)

The most a home can cost for the scheme to help, set for each local authority: €375,000 to €500,000, with Cork City at €500,000 and Galway City at €475,000. Reviewed twice a year. Your county →

Principal private residence relief

The relief that takes a home you lived in out of capital gains tax, for the years you lived there plus the last twelve months of ownership. PPR relief →

Private treaty sale

The usual way a home is sold: the agent takes offers and the seller picks one, with nothing binding until contracts are signed. The other way is an auction. How to bid →

Probate

The court's confirmation of who may deal with a dead person's estate. A home cannot be sold from an estate until the grant issues, which can add months to a sale. Selling an inherited home →

Proof of funds

Bank statements or a letter showing where your deposit, or your cash, came from. Agents and solicitors must ask for it under the anti-money-laundering rules. Buying with cash →

Property Price Register

The public list of what every home sold for since 2010, from the stamp duty returns. New-build prices are shown without VAT. Reading the register →

Property Services Regulatory Authority (PSRA)

The body that licenses estate agents, auctioneers and letting agents and keeps the public register. An agent without a licence may not sell your home. The estate agent →

Pyrite and mica

Minerals in some concrete blocks and under-floor fill that swell or crumble, cracking walls and floors. A surveyor checks for them, above all in the counties affected. A State scheme covers some repairs. What to look for →

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Rebuild cost

What it would cost to rebuild your home from the ground up, which is the figure to insure for. It is usually lower than the price, since it leaves out the site. The SCSI publishes a guide to it. Home insurance →

Redemption

Paying off a mortgage in full, when you sell or switch. The redemption figure is what the lender says you owe on a given day; you can ask for it at any time.

Redemption figure

What the lender says you owe on a given day, including any breakage fee, so a sale or a switch can clear it. You can ask for it at any time and the lender must give it. Selling with a mortgage →

Rent tax credit

A credit against your income tax for rent you paid: €1,000 for a single person and €2,000 for a couple for 2024 to 2026, with €1,150 and €2,300 announced for 2027. Claim it on Revenue's myAccount; you can go back four years. The rent tax credit →

Requisitions on title

A standard list of questions your solicitor sends the seller's solicitor after contracts: planning, boundaries, services, LPT, disputes. The answers must be in before closing.

Residential Tenancies Board (RTB)

The body that registers tenancies and settles disputes between landlords and tenants. A home sold with tenants in it, or after a notice to leave, must follow its rules. Buying with tenants →

Retention permission

Planning permission applied for after the work is done. A buyer's solicitor or a lender may ask for it on a home with an extension that had no permission. The council can refuse it. Planning permission →

Royal Institute of the Architects of Ireland (RIAI)

The body that keeps the statutory register of architects. Only someone on it may use the title architect in Ireland. The architect →

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Sale agreed

The seller has accepted your offer and you have paid a booking deposit. Nothing is binding yet; that comes when contracts are signed. What sale agreed means →

Society of Chartered Surveyors Ireland (SCSI)

The professional body for chartered surveyors, with a find-a-member search. Its members do surveys, valuations and the rebuild cost guide. The survey →

SEAI grants

Grants from the Sustainable Energy Authority of Ireland for attic and wall insulation, heat pumps, solar panels and windows in a home you own. They can be used alongside the vacant property grant. The work must be by a registered contractor. SEAI grants →

SEAI register

The lists kept by the Sustainable Energy Authority of Ireland: BER assessors, and the one-stop shops and contractors for its grants. Only work by a registered person counts for a BER or a grant. The BER assessor →

Section 150 notice

The written estimate of fees and outlays your solicitor must give you at the start of the work, named after the section of the Act that requires it. Compare quotes on it. Solicitor fees →

Self-build mortgage

A mortgage for building your own home, paid out in stages as the build goes up, usually interest-only until it is finished. Help to Buy can go to your loan account at the first drawdown. Self-build mortgages →

Service charge (First Home Scheme)

A yearly charge on the scheme's share of your home. There is none for the first five years. You can buy the share out at any time instead. The First Home Scheme →

Shortfall sale

Selling for less than you owe on the mortgage. The lender must agree first, and you agree how the rest is to be paid. MABS can help before you decide. Free money help →

Snag list

A list of the faults in a new build (a door that sticks, a crack, a missing seal) drawn up before you close, so the builder fixes them first. The snag list →

Sole agency

One agent has the right to sell your home for a set period. If you sell through anyone else in that time you may still owe the fee. Check the period in the letter of engagement. Choosing an agent →

Solicitor

The lawyer who does your conveyancing, checks the title and moves the money. Check the Law Society's register. Typically €1,500 to €3,000 plus VAT to buy and €1,200 to €2,500 plus VAT to sell. The conveyancing solicitor →

Special conditions

Terms added to the standard contract for this one sale: the closing date, a subject-to-loan clause, a repair the seller must do. Your solicitor reads them before you sign. Signing contracts →

Stage drawdown

On a self-build the lender releases the money in parts, one at each stage of the build, after your engineer or architect signs off that stage. Self-build mortgages →

Stamp duty

A tax on buying a home: 1% of the price up to €1 million, 2% to €1.5 million, 6% above. No first-time buyer exemption. On a new build it is charged on the price without VAT. Stamp duty →

Stress test

A lender's check that you could still pay if the interest rate went up by a set amount. Each lender sets its own stress rate. It sits on top of the Central Bank limits, so the limit is not always what you get. What lenders add →

Structural survey

A fuller survey by an engineer or a building surveyor, for an older home, a home with cracks or one you plan to extend. Typically €1,500 to €3,000. The structural survey →

Subject to loan clause

A special condition that lets you walk away with your deposit if your mortgage falls through after signing. A seller does not have to accept it. Signing contracts →

Survey

An engineer's or surveyor's report on the condition of a home, done for you after sale agreed. Not the same as the lender's valuation. The survey →

Switching

Moving your mortgage to another lender for a lower rate. It needs a solicitor and a valuation; many lenders pay towards the cost. Switching →

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Tailte Éireann

The State body that holds the Land Registry, the Registry of Deeds and the maps. After closing your solicitor registers you as owner, and the mortgage, there for a fee. Registration fees →

Tenant purchase scheme

Buying the council home you rent, at a discount. The council keeps a charge on the home for a set number of years, so part of the discount goes back if you sell early. Tenant purchase →

Title

The legal proof of who owns a home, registered with Tailte Éireann (the Land Registry). Your solicitor checks it before you sign.

Top-up

Borrowing more on your existing mortgage, for an extension or an energy upgrade. The lender tests it like a new loan and may want a valuation. Some lenders have a green top-up rate. Top-ups →

Tracker margin

The fixed amount added to the ECB rate on a tracker mortgage, for example ECB plus 1%. It is set in your loan offer and does not change. Trackers →

Tracker mortgage

A rate set as the ECB rate plus a fixed margin, so it moves with the ECB at once. Trackers are no longer sold; most people who have one keep it. Trackers →

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Undertaking

A solicitor's written promise to a lender, for example to register the mortgage and send in the deeds after closing. The lender releases the money against it. Drawdown →

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Vacant Property Refurbishment Grant

Up to €50,000, plus €20,000 if the home is derelict, to make a home that was empty for two years and built before 2008 fit to live in or let. Apply before the works. Stay five years, or ten for the full amount, or repay part. Runs to 2030. The vacant property grant →

Valuation

The lender's own check of what the home is worth, done by its valuer before the loan offer. It is for the lender, not a survey for you. The valuation →

Valuer

The professional who values a home for the lender, chosen from the lender's panel. The fee is about €185. It is for the lender, not a survey for you. The valuer →

Variable rate

A rate the lender can change at any time. No breakage fee and no limit on overpaying, but no certainty either. Fixed or variable →

VAT on a new home

13.5% on a new house, and 9% on a new apartment from 8 October 2025 to 31 December 2030, already inside the price you see. Stamp duty is charged on the price without the VAT, and the Property Price Register shows that lower figure. Stamp duty →

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