Public sector mortgages are tailored mortgage products specifically developed by mortgage lenders to enable public sector workers to purchase a home.

Mortgage lenders recognise the stability of public sector work and may offer favourable terms and rates to borrowers who meet eligibility criteria and are employed in public sector roles. 

MortgageOne are specialist mortgage advisors who have experience in securing public sector mortgages for our clients. We understand your pay scales, allowances, and overtime pay, and we can help you to navigate the mortgage market and secure finance for your home.

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Who is eligible for a public sector mortgage?

Workers in a variety of public sector roles may be eligible for public sector mortgages:

  • Teachers

  • Guards

  • Doctors

  • Nurses

  • Other hospital staff

  • Civil servants

  • Local council workers

  • Army officers

  • Firefighters

  • Prison officers

  • Government or State employed workers

For joint mortgage applications, in most cases, it is sufficient for one partner or spouse to be employed as a public sector worker.

Public sector mortgages may be available for first time buyers, those who are trading up or downsizing, or those who wish to switch their mortgage. It may also be available to public sector workers who wish to release equity in their home for various reasons.

Benefits of public sector mortgages

The financial certainty and long term incremental earning potential of public sector employment means that eligibility criteria, rates, and terms and conditions may be less strict and more generous than for other borrowers.

Public sector workers may be able to calculate their income at 3-5 points above their current pay on the salary scale, effectively meaning that they are borrowing based on their future income.

Public sector mortgage lenders may also allow state employees to borrow based on 100% of their variable pay, such as regular shift allowances and overtime when calculating their borrowing limit.

Public sector workers may be able to avail of lower interest rates than other borrowers.  Depending on their situation, they may be eligible for rates as low as 2.4% APR.

Certain State employees who have transferred or been promoted may be considered as permanent during the initial probationary period for the purposes of the loan application.

New entrants to the public sector would be considered on a case by case basis, depending on their previous employment history.

Public sector mortgage applicants may also be eligible to take mortgage breaks during the term of their loan. 

Some lenders offer the facility to take three month breaks up to three times during the mortgage term, for example.

Lenders may offer more streamlined application processes, with quicker approval times, for public sector mortgage applicants.

For public sector employees, 100% of their deposit can be a gift, provided they can demonstrate proven repayment ability.

Additional facilities offered to public sector workers may include the ability to overpay their mortgage by up to 20% in a 12 month period.

Mortgage terms of up to 40 years may be considered by lenders with the maximum age of 80 being allowed by some lenders.

Are there any conditions attached to getting a public sector mortgage?

There are some eligibility requirements attached to getting a public sector mortgage, although individual lenders may vary in how they apply these conditions.

  • At least one of the mortgage applicant(s) must be a public sector worker.

  • The mortgage must be to purchase your own home.

  • The property must be in the Republic of Ireland.

  • You must have the required permission to live and work in Ireland.
  • You will need to show proof of income.
  • You will need to demonstrate a good credit history and a proven repayment capacity and show you can afford the mortgage repayments.
  • You will need a 10% deposit, this may be a gift.
  • You will need buildings cover and life cover to draw down the mortgage.

At MortgageOne we can advise you and assess your mortgage application to ensure your success. Let our strong tradition of personal service and financial expertise guide you at each stage of the public sector mortgage process.

MortgageOne for public sector mortgages

Public sector mortgages recognise the dedication and lifelong financial position of public sector employees with favourable rates and terms.

If you are a public sector worker and you are a first time buyer, wish to trade up or move to another property, a mortgage switcher, or you wish to release equity on your current property, MortgageOne can help you.

We aim to navigate the different public sector mortgage options on your behalf to get you the best deal from public sector mortgage providers.

Online applications

Our mortgage specialists work hard on your behalf, so from the initial application to signing final contracts, we can give you the help and advice you need.

Our fully online applications and smart technology enable you to get mortgage approval even more quickly and easily.

We can also get you a great deal on the mortgage protection insurance and home insurance that will be required by mortgage lenders.