A Beautiful Loan

by Mary Costello

This is Anna’s story.

In Dublin in 1985, nineteen-year-old Anna Hughes is in thrall to Peter Gallagher, an older, worldly man. Anna is introverted and naive, and Peter’s experience, wide circle of friends and thirst for adventure captivate her. Her obsessive yearning for him leads to marriage and, eventually, a crushing betrayal.

When Anna meets a kind-hearted Algerian man, she quickly falls in love with him. Life with Karim offers stability and renewed hope and Anna begins to uncover deeper layers of herself.

Unfolding over twenty-five years, this is a profound novel about the loss of innocence, the price of love, and the risks of seeking salvation in others. A Beautiful Loan tells a powerful story about longing, survival and the unpredictable road to discovery of the self.

Mary Costello’s short story collection, The China Factory, was nominated for the Guardian First Book Award and shortlisted for an Irish Book Award. Her first novel, Academy Street, won the Irish Novel of the Year Award and was named overall Irish Book of the Year in 2014. The River Capture, her second novel, was shortlisted for the Irish Book Awards, the Kerry Group Awards and the Dalkey Book Awards. Mary Costello lives in Galway.

‘Costello is a writer of rare and exquisite sensitivity – intimate, piercing, death-haunted – with sentences that can turn on a pin into vastness.’ Paul Lynch

‘Brings to mind the elegance of Colm Tóibín and the insight of Alice Munro.’ Maggie O’Farrell

‘Mary Costello has a genius for taking ordinary, unheralded lives and discovering within them the disquiet, the disillusionment, concealed just below the surface.’ Australian

Genres: Fiction, Ireland, Literary Fiction, Irish Literature, Contemporary

215 pages, Kindle Edition

First published March 24, 2026

About the author

Mary Costello lives in Dublin. Her collection of short stories, The China Factory, was nominated for the Guardian First Book Award. Academy Street is her first novel.

Reviews

[Margot · Rating 2 out of 5]

Mary Costello has a great way with words and some passages are really poetic. But…..I grow weary of novels about spineless woman who float through life. This story has been told a few times too many. Perhaps it would appeal more to younger readers not ones in their sixties.

[Dem · Rating 2 out of 5]

I went into A Beautiful Loan by Mary Costello with high hopes, and for a while, it truly delivered. The first half of the novel is beautifully written—quietly compelling, with a strong sense of mood and emotional depth that completely drew me in.

However, as the story progressed, my engagement began to slip, and by the end, I felt deeply disappointed. What frustrated me most was the lack of any real redemption or meaningful resolution for the female character. I just felt let down by the protagonist’s choices in the second half.

It’s especially disappointing because the novel shows so much promise early on and the writing is beautiful and I had hoped for a better outcome.

A novel that starts strong but ultimately didn’t land for me. Not one for my favourites shelf.

[Ellen Ross · Rating 5 out of 5]

What a stunning novel! I was fascinated at Anna’s life and the decades as they went by. From her first marriage and the chaos and heartbreak of it, to her love for her dog, and her interest in becoming a Muslim, there is so much to take in. As she finds who she really is, I felt the emotions she felt - grief, fear, longing, love, confusion. I already miss her since I’ve finished the book. It was truly as if I walked in her shoes as she narrates her life story. I received an advance review copy for free, and I am leaving this review voluntarily.

[Eliza Walsh · Rating 5 out of 5]

A really great and gut wrenching chronicle of a woman whose meekness allows the men around her to control her life since she was very young. A testament to the beauty and solitude of finding oneself over the years, it reads more like a diary than a novel and is bare in its contemplative nature. A philosophical through line guides the reader’s emotional journey alongside narrator Anna’s, adding depth and intellect. Like a polished, grown up, and more desolate rendition of Sally Rooney’s Normal People.

[Rebecca · Rating 4 out of 5]

(3.5) An offbeat glimpse into the soul of an introspective Irish woman with shifting preoccupations. Anna is not interesting so much for the particulars of her life (marriage to Peter, a mountain climber who gaslights her; a miscarriage; a beloved dog) as for the philosophies that guide her. She is in turn fascinated with Jungian thought, Camus's life and works, and Islam - this last through her relationship with Karim, an Algerian Muslim man, after Peter is lost and presumed dead on a Himalayan expedition.

Anna presents her own narrative as a way of self-psychoanalyzing at age 45: looking back to see why she did what she did, what her state of mind was, and why she was susceptible to certain people and ideas. Partly it's that she was so young and impressionable when she met Peter, just 19 to his mid-30s. The Jungian therapist she starts seeing late in the book agrees with Anna that she's "porous ... permeable" but also a sensitive - Anna has premonitory dreams that revealed, e.g. her husband's infidelity and the ethnicity of her future lover to her before the fact. The complications of her life come through her entanglements with other people, whereas she's happiest when she's alone with her dog and her books, contemplating life.

As always with Costello's books, a lot of themes and character development are packed into a small number of pages, but this one won't stay with me like Academy Street did. The attempt to evoke the early 2000s through the titles of songs playing in a nightclub was cringe, but otherwise the sweep of time was well handled. As with Barcelona, there is a slightly heavy-handed animal rights message. I don't disagree, but there would be a way of conveying it more subtly. So this wouldn't be my first recommendation if you want to try Costello - probably my last, actually - but if you had a special hankering to read about women's psychological development and self-understanding this wouldn't be a bad choice.

[Amy Patrick · Rating 2 out of 5]

I love Irish novels, so I was really looking forward to A Beautiful Loan. The writing is strong and emotional, but I struggled with the main character. Anna’s repeated choices in unhealthy relationships made her hard to connect with, and some moments were frustrating.

There are themes about love and self-discovery, but the story didn’t fully work for me.

⚠️ Trigger warnings: infertility, animal neglect/loss

Overall, well written, but not for me.

[Daisy H · Rating 2 out of 5]

There’s no denying that it’s beautifully written, but I’ve decided that I have no interest in books about women who stay in awful relationships without the reader getting even a hint of an explanation as to why.

[Caoimhe Galligan · Rating 3 out of 5]

I found this an interesting read especially in how it explores the way life experiences & the people around us can shape the choices we make.
I found the pacing quite slow, I listened to the audio book & the monotonous tone of the narrator might not have helped. I struggled with Anna’s inability to face life independently before making drastic life decisions. It was frustrating that she was so easily led by people in her life even when she was hurting by living life this way. I wanted to shake her at times. Wake up Anna!!

[Susan Fichandler · Rating 4 out of 5]

This is my kind of book but it may not be for everyone. The narrative mines the interior of her mind and it has a psychoanalytic tone thought the writing was excellent.

[Text Publishing]

The following book reviews have been shared by Text Publishing – publisher of A Beautiful Loan

‘A book that grabs the reader from page one.’
Australian

‘Grounded, fully charged and realistic.’
Saturday Paper

‘There is no greater chronicler of the inner life at this moment. As artificial intelligence and big tech force an increasingly diminished definition upon us of what it means to be human, this novel reminds us that we are so much more.’
Guardian

‘Costello is one of Ireland’s greatest writers . . . Her prose is precise and focused and, like a stiletto blade, sinks deep . . . This is a big book in a small package, about one woman’s growth.’
Financial Times

‘A subtle, unsettling and deeply humane novel that lingers long after the final page.’
Sunday Independent

‘At times I was breathless with the intensity of this novel.’
Kate Evans, ABC Radio National, The Book Shelf

‘like a beautiful piece of music… I am filled with admiration for Mary Costello.’
Claire Messed, author of This Strange Eventful History

‘Mary Costello’s A Beautiful Loan creates a gripping and unsparing portrait of Anna Hughes, whose longing to find ‘safety and oneness,’ and to submit to love, deepens as both inner and outer worlds close in. This unsettling novel opened before me like a Rorschach test, troubling all my interpretations.’
Madeleine Thien, author of The Book of Records

‘This beautiful book has a hurrying heartbeat like a drum, hurrying us toward something we can’t bear to learn. Mary Costello’s writing is rich in knowing, in yearning, in grief, in a deep understanding of the heart.’
Roxana Robinson, author of Leaving

‘An exceptional, compulsive novel of love, loss, and courage. Told in poetic, clear-eyed prose, A Beautiful Loan is heartbreaking but unsentimental, and easily Mary Costello’s best work yet.’
Sinéad Gleeson, author of Constellations: Reflections from Life

‘Bubbling over with introspection and Anna’s philosophical, literary-laden musings, this is a novel about finding oneself. . . a fascinating character study of a woman quietly learning to defy expectations.’
Booklist

‘I loved this quiet story, which deftly illumines the perils of absolutism in love and faith.’
Molly Murn, author of Heart of the Grass Tree

[CarolinaBookBliss · Rating 4 out of 5]

A Beautiful Loan by Mary Costello, narrated by Caitríona Ní Mhurchú

This was a beautifully written and deeply emotional listen. Mary Costello’s writing really draws you in, and I found myself completely captivated by Anna’s story. Her journey felt intimate and thought provoking.

The audiobook narration by Caitríona Ní Mhurchú added another layer to the experience. She did a wonderful job capturing the emotional depth of the characters and bringing Anna’s story to life in a very authentic way.

Overall, a moving and reflective story.
Thank You to Netgalley and Dreamscape Media for the opportunity to listen and review this Audiobook.

[Hannahrose]

This book got me out of my 2 month slump-thank you.

Really beautiful meditation about how we lose ourselves, and how to find ourselves too. really connected with the main character, just wish we went a bit more in depth

[Alex · Rating 5 out of 5]

One of the best novels I've read this year. A portrait of a deeply introverted woman who ends up in disturbing relationships as she strives to find meaning through love, Jungian analysis and Islam. It is painfully beautifully written.

[Gaïa · Rating 5 out of 5]

un très beau livre ; j'ai adoré

[Paula Benson · Rating 2 out of 5]

Maybe two and a half stars. Very frustrating main character who put her life in the hands of others and a writer trying to be too clever.

[Darina · Rating 1 out of 5]

Instantly abandoned at the mention of Israel. It’s 2026, it’s unnecessary and rude, almost on purpose. She could have chosen a different “interesting” thing to share about one of the characters.

[Rita Egan · Rating 5 out of 5]

A mesmerising story of a young Irish woman whose porosity and idealism draws her into codependent relationships.

It's tone is reflective and mindful, perceptive and graceful, where bitterness might have been accepted.

I love the insights she gained through her philosophy studies and how her obsession with Camus seems to underscore her sentience. I'm pleased that "The Outsider" (L'Etranger) is fresh in my mind, because it is referenced a lot.

Her maleability and search for a system to live by seems at odds with her intellectual reasoning, and the devices which restrict a woman's ultimate freedom form part of her experience.
Her personal growth is redemptive and gratifying.

Beautifully written using deep interiority to explore the multitudes a person can contain.

[Lisa · Rating 4 out of 5]

Irish author Mary Costello has had a presence on this blog since guest reviewer Karenlee Thompson (whose novel Notes From the White Room is to be published in 2027) penned a review of  The China Factory (2012).  In 2019, I read her second novel The River Capture which featured a character who identifies with characters from Ulysses , paying homage to my favourite Irish author James Joyce.  Now in 2016, A Beautiful Loan is similarly 'literary' in the sense that there are plentiful allusions to books and authors and its protagonist identifies with Albert Camus.


And although I haven't read Academy Street (2014), this review at The Guardian suggests a similar preoccupation with a character who hovers in the wings rather than be at the centre of her own life.  Anna is a needy soul who craves certainty in an uncertain world, and she also yearns to know why her husband behaves the way he does. The reality is that most of us aren't always clear about our destructive patterns of behaviour, and she isn't clear about her own motives either. Especially not when she substitutes submission to a vengeful conception of God for submission to a domineering husband.

Another theme that resurfaces in this book is the animal cruelty thread: Anna's abhorrence for eating meat precipitates a row with her Muslim lover Karim.  His demands that her little dog Boo be forbidden the house where he's been cherished all his life — because he is 'haram' — shows the extent of her submission to his interpretation of Islamic practices.

To read the rest of my review please visit https://anzlitlovers.com/2026/03/23/a...

[Cath L · Rating 4 out of 5]

Anna, à Dublin en 1985, fait la connaissance de Peter, un homme plus âgé. Après quelques temps, malgré sa crainte de se retrouver enceinte, ils vivent ensemble. Peter reste très indépendant, passant des week-ends en randonnée ou avec des amis, ce qui convient à la fois assez bien à la jeune femme qui aime avoir du temps pour elle, mais la rend inquiète et nerveuse en même temps. Il lui faudra de longues années pour cerner vraiment Peter, et l'emprise impalpable qu'il a sur elle.
Le roman se déroule sur plus de vingt ans et Anna aura l'occasion de rencontrer un autre homme totalement différent de Peter. Karim est franco-algérien, il travaille à Dublin, est de son aveu même, un « mauvais musulman ». Sa fragilité touche Anna, pourtant méfiante à l'idée de nouer une relation nouvelle.
C'est avec beaucoup de finesse que Mary Costello décrit Anna, ses interrogations et contradictions. La jeune femme lit beaucoup, admire les ouvrages de Jung et les romans d'Albert Camus. Elle est tiraillée entre son besoin de solitude, et celui de partager sa vie avec une âme sœur, de fonder une famille avec lui. Ses deux expériences successives, et ses entretiens avec une psy plutôt géniale, vont peut-être finir par lui faire comprendre vraiment quelles sont ses aspirations profondes. [...] En dépit de quelques passages philosophiques assez pointus, j'ai beaucoup apprécié la lucidité et la justesse avec laquelle l'autrice rapporte cette large tranche de vie.
Un roman d'apprentissage qui apporte un éclairage intéressant sur l'histoire des femmes.

[Nancy · Rating 2 out of 5]

A Beautiful Loan by Mary Costello will be published March 2026 2.75 stars from me. I received a free prepublication copy from the publisher, and wish I could be enthusiastic, but I can’t. I liked the writing; the author does a good job of bringing the reader in. I was so frustrated with the main character, though, that I wanted to slap her. Dublin, 1985, Anna falls in lust with Peter, an older man who disappears for weeks and weekends on high adventure trips. She never knows when she is going to see him again, and over and over refuses to question where he is going, and with whom. No one in her family likes him, nor her friends, his friends are rude to her (HELLO? GET A CLUE?) This goes on for years. Her next relationship is with a (originally) kindhearted Muslim man, Karim, who she keeps secret from her family and friends because of his religion and prevailing anti-Muslim sentiments. He eventually presses her to convert, and becomes controlling about where she goes, who she sees, what she wears, guilting her about her Irish Catholic belief system. A through line in the book is her beloved dog, who Karim forces to sleep outside in the cold. I was hoping Anna’s character would develop, and grow a backbone and stand up for herself, but it didn’t happen. Disappointed.

[Janine · Rating 5 out of 5]

What a poignant story. The book explores a woman’s journey of self-discovery through two tumultuous relationships and through her passion for Camus and Carl Jung. It’s told simply but eloquently.

Anna is fresh from rural Ireland, young and very naive when she meets Peter, a man who’s 16 years older (she’s 19 when they meet). She eventually married Peter but theirs is a relationship where Peter controls and Anna seeks to be better for Peter. Eventually this grows tiring, especially after two failed pregnancies and they separate. Several years later she meets a Muslim man, Karim, and is attracted to Islam and converts but this too is unfulfilling for Anna as she misses many things from her former life like having her dog, Boo, be able to live inside rather than outside.

The story unfolds over 25 years and we see Anna looking for safety as several traumatic events occur this period. I found Anna a puzzling character. She threw herself into learning to improve her chances of understanding her world but didn’t seem able at times to learn from her mistakes but when she grows a spine, she’s quite arresting and strong.

As many books dealing with relationships show, the female is always seemingly willing to accede to the man. Anna does that because she seems Avery but with both men neither understand their roles to support those they love. Their interests predominate. I think Anna was better off for leaving both behind.

I’d like to thank NetGalley and W.W. Norton & company for allowing me to access this ARC.

[sabby · Rating 4 out of 5]

I really liked this book. I think watching how much Anna changes is really important. The first marriage, awful. Then she meets sweet Karim but feels like she’s missing out. Seeing her turn to Islam was beautiful too. I feel like there’s so many wrong thoughts gathered around Islam and during her worst time it saved her truly and she still does the little things that connects her. Nobody’s a perfect Muslim no matter how hard they try. Us woman all have had a similar experience with men and doing anything so they won’t leave unfortunately. So going through and reading the loss, love, confusion, heartbreak, depression felt similar. I loved watching Anna slowly find herself, and allow her to be alone not with a man. And boo dying really did the icing on the cake!!! - I was so sad. She loved a man who was unfaithful and still gave her all and thought the problem was her (been there done that)!! I think every woman needs to read this book shit men too! It’s such a raw book that goes through stuff that woman think/feel and deal with on the daily.

[nina.reads.books · Rating 3 out of 5]

A Beautiful Loan is by Irish writer Mary Costello and it was undeniability well written but overall the story just didn’t land for me.

Its set initially in Dublin in 1985 where nineteen year old Anna meets a much older man Peter and becomes obsessed with him. They cannot stay away from each other and eventually marry before Peter betrays her. On her own again for the first time in years, Anna initially finds happiness in her life, work, friends and dog Boo. Then she meets and falls in love with a Muslim man Karim. Anna becomes enthralled with Karim’s faith and converts. However Karim changes and becomes more controlling and Anna’s life begins to become smaller. Eventually she realises she must break free from Karim as well.

This is Anna’s story set across twenty five years but my main issue was with Anna as a character. It was infuriating to me that she falls for Peter who treats her so poorly over so many years. Her family and friends don’t trust him and still Anna isolates herself, makes herself small and excuses his behaviour. I know I know men like this are adept at insinuating themselves with women but the way this was written it really felt that Anna was not trapped and was very easily able to walk away. This was not a violence situation. This was a situation where Peter just had a complete disregard for Anna.

And then to discover that Anna has allowed herself to again become trapped in another poor relationship it just felt like come on Anna – wake up and speak up for yourself! I did however appreciate that she eventually does takes a stand.

I thought the writing itself was strong and Mary Costello does a great job of engaging the reader in the story but I struggled to let go of my frustration with Anna. And don’t get me started on the way the dog Boo’s storyline plays out! Oh boy I wished Anna had kicked Karim to the curb at a critical point but she didn’t.

Read this if you love and appreciate Irish writing.

[Andy Cochrane · Rating 3 out of 5]

A book club choice and I read this in a day, partly because I felt bad having not finished the previous two books in time.The first part of the book reminded me of Louise Kennedy's Trespasses - young girl falls for older man, doesn't quite fit in with his friends...but in this case the older man, Peter, is remote, insensitive and a serial adulterer and I don't understand why Anna stays with him for so long (especially after he left her at the hospital gates!). I found Anna rather unsympathetic (and needing a good shake) with her obsessions with Camus and Jung (I like Camus myself, not so much Jung, and the links to her dreams questionable). I guess these were meant to illustrate how easily she was led and unable to find her own path through life. This set up the second half of the book and her unlikely conversion to Islam, and when she found this too restrictive her 'escape' into therapy.
This slim book was certainly readable but I find such a passive female narrator tiresome.

[Todd · Rating 5 out of 5]

This is an unexpected love story of one woman, two toxic relationships, and one dog. It's heartbreakingly painful, along with being insightful and enlightening.

When we are young and fall in love with someone older who seems to have life figured out, the temptation to shadow them can leave us without our senses. When we then meet a relatively kind person whose faith is at first appealing, and then burdensome and divisive, it is too easy to allow ourselves to be manipulated.

If there's a moral to the story, it's the ability to know yourself well enough to say no to years of loneliness and submission as a critical component of contentment. For as beautifully as this story is crafted, my heart didn't break as much for anyone as it did for the little dog Boo.

A very satisfying 213 page read, and perfect for a book club.

[Leanne Dempsey · Rating 5 out of 5]

This was such a fantastic insight into Anna’s life. A heart wrenching book at times, seeing how the men in Anna’s life controlled her. Her feelings of inadequacy and always seeking approval. I could se part of myself in Anna at times, I could relate to her in some aspects on how she feels & feels towards herself.

I found it so interesting. From her first marriage that was filled with heartbreak, grief & betrayal to her relationship with Karim, and seeking solace in Islam.

I loved seeing Anna transform throughout the book, and not to forget Boo her beloved dog 🥺 definitely my favourite character ❤️

I loved this book! It’s not something I would normally read but I am delighted I did branch out & read it. I would genuinely recommend this book it was a beautiful book.

Thank you so much @gillhessltd for a copy of this book

[Julie · Rating 4 out of 5]

A Beautiful Loan
Set in Dublin in the 1980's, Anna Hughes meets Peter, an older man. The relationship progresses to eventual marriage, yet all the while, Peter seems only partially interested in Anna, spending much time away pursuing his own interests.When the relationship finally ends, Anna meets Kamir, and quickly falls in love. She immerses herself in his Muslim faith. It seems she continually bends herself to adapt to the men with whom she is involved. I found Anna likable, yet I was frustrated by her inability to free herself from these loves that obviously were not in her best interests.
Thanks to Book Browse for an advance copy.

[Reading Fool · Rating 4 out of 5]

I received a free copy of this book from the publisher.

This is the story of Anna, a young woman from rural Ireland, who has significant relationships with two men in her life. The first is Peter, whom Anna meets at age 19 when Peter is in his mid-30s. (He doesn't come and tell her how old he is at first.) Anna is completely enthralled, even obsessed, and eventually the relationship ends. She later meets Karim, who introduces her to Islam. Anna becomes a "good Muslim" and again loses herself in this relationship. The writing is gorgeous and there are many moments that were so relatable to me. This was a thought-provoking novel that I couldn't stop thinking about for a long time.

[Sheri Cardo · Rating 2 out of 5]

(Spoiler alert) I was enjoying this book very much when two-thirds of the way through, the main character did something unexpected and heinous that pissed me off: She went along with her boyfriend’s demand that her beloved dog be moved outside. She knew it was wrong, she knew her dog would suffer and she allowed it anyway. This was not a woman without agency, though she acted like it, which was another problem with the book. I don’t ever remember a book making me so angry and it totally changed my view of it. I cannot recommend it.

[CanadianReader · Rating 2 out of 5]

Read a third and called it quits. Drearily and unrelentingly introspective. I just couldn’t take any more of this slow-motion novel focusing on the most passive female protagonist in (my) recent memory, throwing her life away on unworthy men. I’m not saying women like Anna don’t exist in real life—they certainly do—but how to make their dilemma interesting to the reader? Is it even possible? I’ve liked Costello’s previous work . . . This one was a real disappointment.