Competitive Rate

Loans from Variable 3.92% APRC*

Affordability Calculator

See How Much You Could Borrow

Max Borrowing Up to €500,000

Mortgage from Claddagh Credit Union

Mortgage

Key Features

Why choose a mortgage from Claddagh Credit Union?

  • Highly competitive low-interest rates
  • No penalties for early repayment.
  • Personal treatment every step of the way.
  • Loans from 3.85% Variable (3.92% APRC*)
  • Borrow up to €500,000
  • Variable-rate flexibility with the security of a 4.5% APRC* % cap — benefit if rates fall, while your rate won’t rise above 4.5% APRC*

For more information please see our FAQ

Contact us and see if we can help!

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REPRESENTATIVE EXAMPLE

The monthly repayment on a 20-year mortgage with a variable borrowing rate of 3.85% on a mortgage of €200,000 is €1,196.21 for 240 months. Total amount repayable is €287,090.67. If interest rates increase to the cap of 4.40%, an additional €57.70 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 3.92% applies and consists of variable borrowing rate of 3.85%. It does not include valuation fees, legal fees, or other third-party charges that may apply.

*Annual Percentage Rate of Charge 

WARNING: IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY AFFECT YOUR CREDIT REPORT, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT, A HIRE-PURCHASE AGREEMENT, A CONSUMER-HIRE AGREEMENT OR A BUY NOW PAY LATER (BNPL) AGREEMENT IN THE FUTURE.

LOANS ARE SUBJECT TO APPROVAL. LENDING CRITERIA, TERMS AND CONDITIONS APPLY. MORTGAGE APPROVAL IS SUBJECT TO A SATISFACTORY ASSESSMENT OF SUITABILITY AND AFFORDABILITY. APPLICANTS MUST BE OVER 18 AND RESIDENT IN THE REPUBLIC OF IRELAND.

WARNING – IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.

WARNING – POSSIBLE FLUCTUATIONS IN THE INTEREST RATE COULD AFFECT THE AMOUNT PAYABLE.

TERMS AND CONDITIONS APPLY. A FIRST LEGAL CHARGE IS REQUIRED FOR ALL MORTGAGES. MORTGAGE PROTECTION INSURANCE AND HOME INSURANCE ARE REQUIRED.

Read Our Complaints Procedure HERE

FAQ

With Claddagh Credit Union, the minimum mortgage amount is €75,000 and the maximum is €500,000. First-time-buyers can borrow up to 4 times their gross income (sole or joint). For second or subsequent buyers, the multiple is 3½ times. All reckonable income must be from a permanent job where probation has been passed and if you are self-employed, you must have three consecutive full years verifiable with tax returns.

The maximum term is 35 years for a first-time buyers and 30 years for non-first-time buyers. The minimum term will be 10 years.

The borrower must be over 18 years-old and the end of the term cannot exceed borrower’s 67th birthday.

The interest rate is currently 3.85% variable (APRC* 3.92%).  The interest rate will be capped at 4.5% APRC* for a 3 year period starting from the date of drawdown.

No. Claddagh Credit Union currently only offer variable rate mortgages.

Your mortgage rate is capped at 4.5% APRC for three years from the date of drawdown. While the rate will not exceed 4.5% APRC during this period, the cap is removed after three years, and the rate may increase. We will contact you to review your options closer to that time.

We will consider home loans for the following purposes:

• First time buyer of principal residence

• Non-first-time buyer/switcher of principal residence

• Renovation work on existing principal residence

No, you can borrow for the purchase or switching your mortgage on the PPR (Principal Private Residence) or to purchase, renovate or refinance a loan for a property for use as another residence (i.e. Holiday home).

 

Yes, provided you are not earning investment income on this property. For any further queries, please contact us in branch or on 091537200 or via email at mortgages@claddaghcu.ie.)

 

No. Claddagh Credit Union will only consider mortgages for the purchase or enhancement of PPR

 

Yes. You will need a minimum of 10% of the purchase price as a deposit. You will also need some extra funds for your legal fees and Stamp Duty (currently 1% of the purchase price of the property). 

You will need 20% deposit if your home is a two, three or four-bed apartment. Claddagh Credit Union do not lend for a one-bed apartments. 

 

Firstly, estimate how much you can afford to borrow with our mortgage loan calculator (link). Then, you should email mortgage@claddaghcu.ie with a call-back request and one of our mortgage advisors will contact you  

Claddagh Credit Union shall make a Central Credit Register (CCR) database enquiry as part of the creditworthiness assessment with the consent of the prospective borrower. If the prospective borrower was resident outside of the state during the proceeding 5 years, they will be asked to provide a credit report from the country in which they were resident. 

You should ring our branch on 091 537223 & also review our “Standard Financial Statement Guide to our Mortgage Arrears Resolution” which is located here

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