Haven Mortgages are owned by AIB, Ireland’s second largest bank. In our Haven Mortgages Ultimate Review – Ireland 2032 we will give you the inside track on a Haven mortgages and the alternatives.
As someone who used to lead the mortgage product team in PTSB, I’ve always considered Haven mortgages as a strong provider essentially offering AIB mortgages through mortgage brokers.
Mortgage brokers usually have a panel of lenders to pick from with the interest rate paid by their client always being a major factor. This means the broker arms of the banks need to offer keen pricing to win broker business and often offer lower rates than the banks themselves.
- Haven Mortgages Green 4 Year Fixed Rate mortgage @ 2.55% one of the lowest fixed term rates on the market for Loan to Values (LTV) over 80%. Beating Haven’s owner AIB by 0.1%.
- At LTV’s below 80% Avant Money have the edge offering a 2.25% 3 or 5 year fixed rate
- Unlike some other lenders Haven also offer €2,000 – €5,000 cash back when you drawdown your mortgage.
One thing to watch out for though is the follow on rate, this is the rate you will pay after the fixed period. Haven mortgages potential highest follow on rate is 3.15%, AIB is 3.15% while Avant Money is 2.70% for an LTV of 90%.
The bottom line is if you intend to switch at the end of your fixed period Haven are a great option with low introductory rates and cash back offers.
However, if you don’t intend to switch every few years you are probably best looking at options from Avant Money.
| Rank | Mortgage Product | Rate Value | Repayment Security | Ease of Approval | Approval Speed | Overall Rating |
| #1. | Avant Money Mortgage 10-30 Yr Fixed | 4.25 | 5.0 | 4.0 | 5.0 | 4.58 |
| #2. | Avant Money Mortgage 7 Yr Fixed | 4.25 | 3.5 | 4.0 | 5.0 | 4.13 |
| #3. | Haven Mortgage 10 Yr Fixed | 3.5 | 4.0 | 3.5 | 5.0 | 3.95 |
| #4. | Avant Money Mortgage 5 Yr Fixed | 4.5 | 2.5 | 4.0 | 5.0 | 3.90 |
| #5. | Haven Mortgage 7 Yr Fixed | 4.0 | 3.5 | 3.5 | 3.0 | 3.55 |
Rating Weighting: Rate 30%, Security 30%, Approval 20%, Speed 20%, updated 26/05/2023
Read on to find out if Haven mortgages makes sense for you and the other options for a great rate and easy approval.
Haven Mortgages Rate and Product Overview – Haven Mortgages Ireland 2023
Pro’s & Con’s – Haven Mortgages Ireland 2023
Recommendation – Haven Mortgages Ireland 2023
Alternatives – Haven Mortgages Ireland 2023
In a Nutshell – Haven Mortgages Ireland 2023
Haven Mortgages Rate and Product Overview – Haven Mortgages Ireland 2023
Haven Mortgages Cashback
You can see how Haven Mortgages stack up against other providers for Cash back in the table below.
| Compare Cash back | Cash back Min | Cash back Max | Cash back Conditions |
| Avant Money Mortgage | €0 | €1,500 | Switcher over €200,000 with One Mortgage |
| Haven Mortgages | €0 | €2,000 | Switcher Only |
| AIB Mortgage | €0 | €2,000 | Switcher Only |
| Permanent TSB | 0% | 2% | 2% not available to 4 year fixed term. |
| EBS Mortgage | 2% | 3% | 2% on drawdown 1% after 5 years. |
| Bank of Ireland | 2% | 3% | 2% on drawdown 1% after 5 years. |
Rates updated 26/05/23
The long term cost of the mortgage is often hidden by providers behind cash back offers and introductory rates. Check out our comparison of cash back and rates after the introductory period below.
Haven Mortgages Introductory Rate
Haven Mortgages don’t vary their fixed rates by the ratio of the loan to home value offering one flat rate for all LTV’s. This makes their introductory rate very competitive at the highest LTV band of 80-90%, where their Green 4 Year mortgage is actually the lowest rate on the market.
The kicker is that providers who do vary their introductory rates by LTV, offer better rates for any LTV’s lower than 80%.
| Fixed Rate LTV 0-90% | Fixed Rate | Fixed APRC |
| 1 Yr | 4.40% | 3.70% |
| 2 Yr | 4.40% | 3.80% |
| 3 Yr | 4.10% | 3.80% |
| Green 4 Yr | 3.65% | 3.70% |
| 5 Yr | 4.20% | 4.00% |
| 7 Yr | 4.40% | 4.20% |
| 10 Yr | 4.60% | 4.30% |
Annual Percentage Rate Charge (APRC) calculated on a €100,000 loan over 20 years. APRC represents the average rate across the lifetime of a typical mortgage and is recommended as the best rate to use for comparisons by the CCPC. [1]
Haven Mortgages Variable Rates mortgages do vary based on your loan to value, this is what will also dictate the rate you pay after your fixed period is up. You can use our calculator to see what loan to value applies to you and what rates you will get here.
| LTV | Rate | APRC |
| LTV ≤ 50% | 3.10% | 3.20% |
| LTV > 50% and < 80% | 3.30% | 3.40% |
| LTV > 80% | 3.50% | 3.60% |
| Top Up / Equity Release | 3.50% | 3.60% |
Haven Mortgages Follow On Rate
If you aren’t switching your mortgage to another provider the rate you will pay after your fixed period is up is the one that matters most for the overall cost of your mortgage.
These rates are often hidden away by providers pushing the upfront introductory rate or cash back offers.
Haven are in the middle of the pack on follow on rates, offering the best of the bank or bank owned follow on rates. That said, the rates from Avant Money are considerably lower giving them the definite upper hand on best value across the whole term of your mortgage.
| Follow on Variable Rate | Avant Money | ICS Mortgages | Finance Ireland | Haven Mortgages | AIB Mortgage | KBC | Ulster Bank | EBS Mortgage | Permanent TSB | Bank of Ireland |
| Up to 50% LTV | 3.50% | 4.70% | 4.75% | 3.10% | 3.10% | 3.20% | 3.50% | 3.70% | 3.70% | 3.90% |
| Up to 60% LTV | 3.50% | 4.70% | 4.95% | 3.30% | 3.30% | 3.20% | 3.50% | 3.70% | 3.70% | 3.90% |
| Up to 70% LTV | 3.50% | 4.70% | 4.95% | 3.30% | 3.30% | 3.25% | 3.70% | 3.50% | 3.70% | 4.20% |
| Up to 80% LTV | 3.70% | 4.95% | 4.95% | 3.50% | 3.30% | 3.25% | 3.70% | 3.70% | 3.70% | 4.20% |
| Up to 90% LTV | 3.70% | 4.95% | 5.15% | 3.50% | 3.50% | 3.50% | 3.90% | 3.70% | 3.90% | 4.50% |
Probable follow on variable rates post fixed period based on current variable rates by provider
The follow on rate makes a huge difference to the cost of your mortgage. A 25 year €285,000 mortgage for example would cost €399,714 with Haven and €387,574 with Avant Money . That makes Avant Money over €12,000 cheaper over the term of the mortgage.
Even including the €2,000 cash back available on the Haven mortgages green mortgage or the €5,000 available on other Haven rates for mortgages over €250,000 that’s a lot of extra cost.
Haven Mortgages Approval Types
Haven Mortgages are available for First Time Buyers, Next Time Buyers (Movers), Switchers, Self Build and Top Up (Equity Release). They also offer foreign exchange (fx) mortgages that allow people buying from abroad to obtain a mortgage if eligible.
Their Green Mortgage needs a document known as a Building Energy Rating (BER), which essentially is a calculation of how energy efficient your home is. BER certificates are valid for up to 10 years.
The BER measures how energy efficient your home is on a scale of A to G, with A being the most energy efficient your home can be.
You will require a BER rating of at least B3 in order to qualify and apply for a Green Mortgage with Haven.
If you are self building you can’t get a BER rating until the completion of your build, unlike other lenders Haven don’t make a loan offer based on the assumption that your property qualifies for a green rate. This is pretty crazy given that all properties nowadays must have a B3 or higher rating.
This means quite a lot of extra paperwork for Haven compared to other lenders, which might be enough to put you off getting a self build mortgage with Haven.
Haven Mortgages Approval Credit Policy
Haven are in the goldilocks zone for mortgage approvals, with a reputation for not being too tight or too loose.
Our data indicates that approvals are broadly in line with those given at their mothership AIB. Generally their credit approval policy will suit most applicants.
Pro’s & Con’s -Haven Mortgages Ireland 2023
Pro’s
- Attractive short term rates @ 80%+ LTV in particular the 4 year Green Mortgage
- Cash back of €2,000 to €5,000
Con’s
- At LTV’s below 80% Avant Money have better introductory rates
- Avant Money have better follow on rates around 0.25% better on average
- Haven’s green mortgage for self builders is a lot of admin hard work
Recommendation -Haven Mortgages Ireland 2023
So Haven mortgages lead the market on the combination of introductory rate and cash back, but they cost a lot more than some providers in the long run.
With switching becoming easier and savings increasing, switching your mortgage every 3 or 4 years now makes a lot of sense. You not only can claim multiple cash back offers you can also lock into low fixed rates each time you move.
If you know you’re are going to switch at the end of your fixed period then Haven Mortgages are a good option, particularly if you have an LTV over 80%. Their 4 year fixed Green Mortgage offers great value in the 4 year term.
You can sign up for a Haven Mortgage by booking a free mortgage advice call here.
However, if you are looking to stay with your provider for longer than the fixed period there are better options available offering introductory rates just as good, but with lower follow on rates.
| Rank | Mortgage Product | Rate Value | Repayment Security | Ease of Approval | Approval Speed | Overall Rating |
| #1. | Avant Money Mortgage 10-30 Yr Fixed | 4.25 | 5.0 | 4.0 | 5.0 | 4.58 |
| #2. | Avant Money Mortgage 7 Yr Fixed | 4.25 | 3.5 | 4.0 | 5.0 | 4.13 |
| #3. | Haven Mortgage 10 Yr Fixed | 3.5 | 4.0 | 3.5 | 5.0 | 3.95 |
| #4. | Avant Money Mortgage 5 Yr Fixed | 4.5 | 2.5 | 4.0 | 5.0 | 3.90 |
| #5. | Haven Mortgage 7 Yr Fixed | 4.0 | 3.5 | 3.5 | 3.0 | 3.55 |
Rating Weighting: Rate 30%, Security 30%, Approval 20%, Speed 20%, updated 26/05/2023
Alternatives – Haven Mortgages Ireland 2023
| APRC | Avant Mortgage | ICS Mortgages | Finance Ireland | Haven Mortgages | AIB Mortgage | EBS Mortgage | Permanent TSB | Bank of Ireland |
| 3 Yr | 3.61% | 4.90% | 6.09% | 3.80% | 3.45% | 4.10% | 4.25% | 4.30% |
| 4 Yr | 3.68% | – | – | 3.70%* | 3.43%* | 3.80%* | 3.89% | 3.60%* |
| 5 Yr | 3.73% | 4.99% | 6.06% | 3.80% | 3.44%* | 4.20% | 4.13%* | 3.90%* |
| 7 Yr | 3.87% | – | – | 4.20% | 3.90% | – | 4.35% | 4.60%* |
In a Nutshell – Haven Mortgages Ireland 2023
The non traditional lenders offer the best combination of rates and approval flexibility for most people looking for a mortgage.
Rates with these lenders are typically 30% lower than the banks as they aren’t carrying the cost of supporting tracker mortgage customers.
If you are thinking of becoming a serial switcher Haven should also be on the roster, by signing up for the 4 year fixed you can get a great rate and cash back into your pocket then switch to one of the non bank lenders when your 4 years are up.
Haven, Avant Money, ICS Mortgages and Finance Ireland are available through brokers or through one our mortgage sherpas.
Next Steps – Haven Mortgages Ireland 2023
If you want to see what you could save by calculating your repayments and see all mortgage provider rates you can click here.
If you want to know more about other mortgage providers you can click here.
If you want to know more about long term fixed rate mortgages you can read our article here.
If you want to know more about shorter term fixed rates, you can check out our deep dive best fixed rate mortgage piece here.
If you want to know more about switching you can click here. Or you can check out our handy switching mortgage guide here and our remortgaging guide here. If you still have questions check out our switching Q&A here.
If you are thinking of freeing up some extra cash from your home, take a look at our mortgage top up tips here or if you are over 55 our equity release rundown here.
If you want to get your savings started right now, set up a free no obligation video call with a mortgage sherpa here, covering not only the best rate, but also helping choose the lender most likely to approve you and helping take the pain out of the paperwork.
Check out our other popular guides below.
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- Should I fix my tracker mortgage Ireland?
- Should I fix my mortgage Ireland?
- How much can I borrow for a mortgage Ireland?
- Remortgaging a house guide
- Mortgage switcher guide
- Mortgage switcher calculatorLatest
- Mortgage repayment calculator
- Mortgage calculator Ireland, how much can you borrow
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