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Instant answer for €500/day in Ireland
On a €500/day rate, your annual income baseline is €115,000 (€500 × 5 days × 46 weeks).Under Central Bank limits, if your accounts show that income, 3.5× to 4.5× incomepoints to between €403,000 and €518,000. A lender that only sees a director salary of €14,000 may offer only €56,000, a gap of €347,000.
Annual income baseline
€115,000
€500 × 5 days × 46 weeks
Range under Central Bank limits
€403,000 – €518,000
3.5× to 4.5× on full-year billing, if your accounts show it
Extra vs a low director salary
+€347,000
vs a lender that only sees a €14,000 salary
Adjust the sliders to explore other rates and markets
Annual income baseline
€500 × 5 days × 46 weeks
€115,000
Central Bank limits, if your accounts show this income
€403,000 – €518,000
3.5× – 4.5× income: 4× first-time buyers, 3.5× movers, limited exceptions
Lender using your salary only
€56,000
Director salary of €14,000 × 4. Most lenders also count dividends.
€347,000 more if your accounts show your full day-rate income
Compared with a lender that only sees a low director salary. Paying yourself more is what raises this.
€500 × 5 days × 46 billable weeks = €115,000 if you bill all year. Irish lenders don't use this formula: they use the income in your accounts, so this is the most you could show.
The Central Bank caps loans at 4× gross income for first-time buyers and 3.5× for movers, with limited exceptions up to about 4.75× and 4.5×. Applied to full-year billing, 3.5× to 4.5× gives €403,000 to €518,000.
A lender that only uses a director salary of €14,000 × 4 offers just €56,000, €347,000 less than the lower bound. Most lenders also count dividends, which narrows the gap.
As a Ltd company director contracting at €500/day, Irish lenders assess what your company pays you, salary plus dividends as shown in your accounts, not your day rate. The Central Bank caps loans at 4× gross income for first-time buyers and 3.5× for movers, with limited exceptions above that. If your accounts show the full €115,000, that gives the €403,000 to €518,000 range.
Sole traders are assessed on the profit in their Form 11 returns, usually over two years, and umbrella contractors on their payslips. The same Central Bank caps apply, so the figure lenders see is what you earned after expenses, not your day rate. Sole traders may need further Revenue documentation, such as a Notice of Assessment.
Choosing between sole trader, PAYE umbrella, and director structure affects your mortgage eligibility. The Ireland contractor structures guide explains how each model works and what lenders typically see from each.
On a borrowing range of €403,000 to €518,000, if your accounts show full-year income, here is how that compares to the Irish property market in 2026. With a 10% deposit, the Central Bank minimum for every buyer, a maximum of €518,000 gives a purchase ceiling of approximately €576,000. With a 20% deposit it rises to €648,000.
Ireland average house price
Within range~€340,000
DAFT / CSO 2026 estimate. Within the borrowing range here for most day rates above €400/day.
Dublin average house price
Within range~€430,000
DAFT 2026 estimate. Accessible at higher day rates; may require a larger deposit at lower rates.
Cork / Galway average
Within range~€310,000
Within the borrowing range here for most contractor day rates with a 10% to 20% deposit.
Rest of Ireland average
Within range~€250,000
Comfortably within the borrowing range here for most contract roles, even at entry-level day rates.
Property price benchmarks are approximate market averages for 2026 and will vary significantly by specific location, property type, and market conditions. Your purchase ceiling depends on your actual borrowing offer, deposit size, and solicitor/stamp duty costs. Always obtain a formal mortgage offer before exchanging contracts.
On a €500 day rate, full-year billing (× 5 days × 46 weeks) comes to €115,000. Irish lenders don't lend on that figure directly: they assess the income in your accounts and Form 11, and the Central Bank caps loans at 4× income for first-time buyers and 3.5× for movers, with limited exceptions above that. If your accounts show the full €115,000, the 3.5× to 4.5× range points to €403,000 to €518,000.
Irish lenders assess the income your company actually pays you, as shown in your accounts, so a low director salary with profit left in the company cuts what you can borrow. There's no Irish equivalent of UK day-rate underwriting; the way to borrow more is to show higher drawings over the years lenders review.
Through a limited company, Irish lenders assess what the company pays you, salary plus any dividends shown in your accounts, not your day rate. The Central Bank caps apply to everyone: 4× gross income for first-time buyers and 3.5× for movers, with lenders allowed limited exceptions. The €403,000 to €518,000 range here assumes your accounts show full-year income of €115,000.
For a €500/day contract: your current contract (at least 3 months remaining), last 3–6 months of business bank statements, last 2 years of Form 11 (Revenue self-assessment), certificate of tax clearance, and certified company accounts.
This calculator uses 46 weeks, allowing about 6 weeks for leave and bank holidays, to turn your day rate into a full-year figure. Irish lenders don't annualise your day rate, though: they use the income in your accounts, so treat the 46-week figure as the most you could show if you bill all year.
Possibly. Irish lenders can go above the 4× (first-time buyer) and 3.5× (mover) caps on a limited share of their loans, typically up to 4.75× and 4.5×, but no borrower is entitled to an exception. Adding a second applicant's income raises the ceiling, and paying yourself more through your accounts raises the income lenders see.
The Central Bank sets a maximum 90% loan-to-value for every buyer, so you need at least a 10% deposit whether or not it's your first home. First-time buyers can borrow up to 4× income and movers 3.5×. On a maximum of €518,000, a 10% deposit allows a purchase of up to €576,000, and a 20% deposit up to €648,000.
With a contractor-specialist mortgage broker familiar with Irish lenders, expect 6–10 weeks from enquiry to loan offer. Stages: approval in principle (AIP), 1–2 weeks; full application with documents, 1–2 weeks; underwriting and valuation, 3–6 weeks. Having your current contract, last 2 years of Form 11, business bank statements, and tax clearance certificate prepared in advance will shorten the process. Revenue's myAccount allows you to download your tax history digitally.
Irish Contractor Calculator
Contractor structures at €500/day: sole trader, umbrella director, PAYE umbrella
Day Rate Calculator
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Contractor vs Permanent Hiring Cost
Employer view: when is a contractor actually cheaper than a permanent hire?
Borrowing figures are estimates based on the standard contractor day-rate underwriting formula (day rate × 5 × billable weeks) and illustrative income multiples. Actual lending decisions depend on individual lender criteria, credit history, existing debts, deposit size, and property value. Income multiples and criteria vary by lender. This tool does not constitute financial or mortgage advice. Consult a qualified mortgage adviser who specialises in contractor applications before applying.