If you’re buying your first home, moving house, or switching mortgage providers, the upfront costs can quickly add up. Between solicitor fees, valuation reports, and mortgage protection policies, the expenses can be overwhelming. But there’s good news: many Irish banks now offer generous cashback incentives that can help cover these legal fees, especially for buyers and switchers in Clare and Limerick.
In this guide, we break down the latest mortgage cashback offers from Ireland’s leading lenders and show how Crimmins Howard Solicitors can help you navigate the legal side of your property transaction.
What Is a Mortgage Cashback Offer?
A mortgage cashback offer is a financial incentive where a bank gives you a lump sum of money when your mortgage is drawn down. The amount is usually a percentage of the mortgage or a fixed sum, paid directly into your bank account within a few weeks of the mortgage being finalized. These cashback offers are tax-free and can be used however you like, many borrowers use the money to cover legal and professional fees.
Which Banks Offer Mortgage Cashback?
Several Irish lenders currently offer cashback deals. Here’s a quick overview:
| Bank | First-Time Buyers | Switchers | Cashback Offer |
|---|---|---|---|
| AIB | ❌ Not available | ✅ Yes | €3,000 fixed cashback |
| Bank of Ireland | ✅ Yes | ✅ Yes | 2% upfront + 1% in 5 years (if you bank with BOI) |
| EBS | ✅ Yes | ✅ Yes | 2% upfront + 1% in 5 years |
| Haven | ✅ Yes | ✅ Yes | Up to €5,000 cashback (mortgages over €250,000) |
| Avant Money | ✅ Yes | ✅ Yes | 1% cashback (until 31 Dec 2025) |
| PTSB | ✅ Yes | ✅ Yes | 2% cashback + monthly cashback if you bank with PTSB |
| MoCo | ✅ Yes | ✅ Yes | €1,500 flat cashback |
Note: Offers are subject to change. Always check with your lender for up-to-date terms.
Why Cashback Offers Matter for Legal Costs
When switching or taking out a mortgage, one of your largest upfront expenses is the solicitor’s fee. This covers conveyancing, title checks, liaising with the bank, drawing down funds and ensuring everything is legally sound.
Typical legal fees for property transactions in Clare and Limerick can range from €1,500 to €2,500. Cashback offers from banks like AIB, BOI, or Haven can fully or significantly offset these costs, meaning you can complete your purchase or switch with little to no legal fees out of pocket.
Real Examples of How Cashback Helps
- A first-time buyer in Limerick taking out a €270,000 mortgage with BOI could receive €8,100 cashback: €5,400 upfront and another €2,700 in five years.
- A homeowner in Clare switching a €200,000 mortgage to AIB would receive €3,000 in cash, more than enough to cover solicitor fees.
- A borrower taking out a €250,000 mortgage with Haven can qualify for up to €5,000 cashback, providing extra funds for legal fees.
Be Smart: Consider the Total Cost
While cashback offers are attractive, they often come with higher interest rates. A mortgage with a 2% cashback offer might cost thousands more over 30 years than a mortgage with a lower rate and no cashback. It’s important to compare the total cost of credit before choosing a deal.
If you’re unsure, a solicitor or mortgage broker can help you weigh the short-term benefit of cashback against long-term savings from lower interest rates.
How Crimmins Howard Solicitors Can Help
We regularly assist clients in Clare, Ennis, Limerick and surrounding areas with their property transactions. Our experienced conveyancing team will:
- Act as your appointed solicitor for your mortgage or switch
- Communicate directly with your bank to manage timelines and drawdown
- Handle all legal title work and documentation
- Ensure the process runs smoothly and without delays
We know exactly what each lender requires and help you avoid unnecessary complications.
Mortgage cashback offers are an excellent way to reduce the financial pressure of buying or switching your home. If you’re in Clare or Limerick and want to take advantage of these deals, make sure to speak to a solicitor early in the process.
At Crimmins Howard Solicitors, we’ll ensure that your legal fees are handled efficiently and in many cases, fully covered by the cashback from your lender.
Need help with your mortgage switch or property purchase?
Get in touch with our team today and find out how we can help you complete your move without breaking the bank.
- Call: 061-361088
- Email: info@crimminshoward.ie
