Haven Mortgages Ultimate Review – Ireland 2021

Haven Mortgages are owned by AIB, Ireland’s second largest bank. In our Haven Mortgages Ultimate Review – Ireland 2021 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, Haven mortgages have always been a strong provider 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 @ 2.15% is the lowest fixed term rate on the market for Loan to Values (LTV) over 80%. Beating ICS by 0.05% and it’s Haven’s owner AIB by 0.1%.
  • At LTV’s below 80% ICS have the edge offering a 2.1% 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 follow on rate is 3.15%, AIB is 3.15% while ICS is 2.7%.

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 ICS or if you want a longer term fixed rate Avant Money. You can see how Haven Mortgages rates compare to the other options in the market for your needs here.

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 2021

Pro’s & Con’s – Haven Mortgages Ireland 2021

Recommendation – Haven Mortgages Ireland 2021

Alternatives – Haven Mortgages Ireland 2021

In a Nutshell – Haven Mortgages Ireland 2021

Haven Mortgages Rate and Product Overview – Haven Mortgages Ireland 2021

Haven Mortgages Cashback

You can see how Haven Mortgages stack up against other providers for Cash back in the table below.

Cashback Min Cashback Max Cashback conditions
Haven Mortgages €2,000 €5,000 €5,000 NA to Green or >€250,000
Avant Money €0 €0  
ICS Mortgages €0 €0  
Permanent TSB 0% 2% 2% not available to 4 year fixed term.
KBC €1,500 €3,000 €3,000 only available to switchers
Finance Ireland €0 €0  
AIB €0 €2,000 €2,000 only available to switchers
EBS 2% 3% 2% on drawdown 1% after 5 years
Bank of Ireland 2% 3% 2% on drawdown 1% after 5 years

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, such as ICS or Avant Money, offer better rates for any LTV’s lower than 80%.

Haven Mortgages Fixed rates LTV 0-90%  
Fixed Term Rate APRC
1 Year 3.15% 3.20%
2 Year 3.15% 3.20%
3 Year 2.55% 3.10%
Green 4 Year 2.15% 2.80%
5 Year 2.55% 3.00%
7 Year 3.15% 3.20%
10 Year 3.30% 3.30%

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.

Haven Mortgages Variable Rates    
Less or equal to 50% 2.75% 2.80%
Above 50% & below 80% 2.95% 3.00%
Above 80% 3.15% 3.20%
Top Up/Equity Release 3.15% 3.20%

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 ICS Mortgages and Avant Money are considerably lower giving them the definite upper hand on best value across the whole term of your mortgage.

Follow on Rates
up to
50% LTV
Follow on Rate
up to
60% LTV
Follow on Rate
up to
70% LTV
Follow on Rate
up to
80% LTV
Follow on Rate
up to
90% LTV
Follow on Rate
Avant Money 2.5% 2.5% 2.5% 2.75% 2.75%
ICS Mortgages 2.65% 2.7% 2.7% 2.7% 2.7%
Finance Ireland 2.75% 2.95% 2.95% 2.95% 3.15%
Haven Mortgages 2.75% 2.95% 2.95% 2.95% 3.15%
AIB 2.75% 2.95% 2.95% 2.95% 3.15%
KBC 3% 3% 3.05% 3.05% 3.3%
EBS 3.3% 3.5% 3.5% 3.5% 3.7%
Permanent TSB 3.7% 3.7% 3.7% 3.7% 3.9%
Bank of Ireland 3.9% 3.9% 4.2% 4.2% 4.5%
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, €387,574 with ICS and €398,429 with AIB. That makes ICS 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 Equity Release.

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. 

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 2021


  • Attractive short term rates @ 80%+ LTV in particular the 4 year Green Mortgage
  • Cash back of €2,000 to €5,000


  • At LTV’s below 80% ICS and Avant Money have better introductory rates
  • ICS and Avant Money have better follow on rates around 0.25% better on average
  • ICS also have more flexible credit terms

Recommendation -Haven Mortgages Ireland 2021

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.

Alternatives – Haven Mortgages Ireland 2021

  • Rates from 2.29% APRC
  • Fixed for 3-30 Years
  • Tight approval policy

  • Rates from 2.29% APRC
  • Fixed for 3-7 Years
  • Flexible approval policy

  • Rates from 2.53% APRC
  • Fixed for 3-25 Years
  • Flexible approval policy

In a Nutshell -Haven Mortgages Ireland 2021

The non bank lenders Avant Money, ICS Mortgages and Finance Ireland 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 2021

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.

You can read our founder’s latest piece for extra.ie on the big mortgage switch and how much you will save here.Or you can check out our handy switching mortgage guide here.

If you want to get your savings started right now, set up a free no obligation video call with a mortgage sherpa here.

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