Mortgage.
Competitive Rate
Loans from Variable 4.02% APRC*
Affordability Calculator
See How Much You Could Borrow
Max Borrowing Up to €350,000
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 Variable 4.02% APRC*
- Borrow up to €350,000
For more information please see our FAQ
Contact us and see if we can help!
WARNING – IF YOU DO NOT MEET THE REPAYMENTS ON YOUR LOAN, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY AFFECT YOUR CREDIT RATING, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE.
LOANS ARE SUBJECT TO APPROVAL. TERMS & CONDITIONS APPLY.
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.
REPRESENTATIVE EXAMPLE
3.95% MORTGAGE
€200,000 loan repayable over 20 years.
Rate of interest 3.95% per annum variable.
4.02% APRC*, 240 monthly repayments of €1206.70 per month.
Total cost of credit €89,607.48, total amount payable €289,607.48
*Annual Percentage Rate of Charge
FAQ
How much can I borrow?
With Claddagh Credit Union, the minimum mortgage amount is €75,000 and the maximum is €350,000. 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.
Over what term can I borrow?
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.
Are there any age restrictions?
The borrower must be over 18 years-old and the end of the term cannot exceed borrower’s 67th birthday.
What is your interest rate?
The interest rate is currently 3.95% variable (APRC* 4.02%).
Can I get a fixed term mortgage?
No. Claddagh Credit Union currently only offer variable rate mortgages.
What home loans will Claddagh Credit Union consider?
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
Can I borrow to buy a holiday home or investment property?
No. You can only borrow for the purchase or switching your mortgage on the PPR (Principal Private Residence).
Can I borrow for a self-build?
No. Claddagh Credit Union will only consider mortgages for the purchase or enhancement of PPR
Will I need a Deposit?
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.
I have my deposit and feel I am ready to make an application, what do I do now?
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
Will I need a Credit Report when applying for a mortgage?
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.