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 only borrow for the purchase or switching your mortgage on the PPR (Principal Private Residence). 

No. Claddagh Credit Union will only consider mortgages for the purchase or enhancement of PPR0 

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.