Step 1: Work out your moving budget
Consider your savings and the equity you expect from selling your current home, after repaying your mortgage. Allow for selling costs, legal fees, stamp duty and moving expenses.
Mover Mortgages
Trading up or trading down, your Credit Union is with you all the way.
Why a Credit Union mortgage
Why choose a Credit Union for your next mortgage?
Your next move starts here
Your next home is a new chapter. Make the move with your Credit Union, where local people with local knowledge offer personal service that’s second to none. Borrow up to 3.5 times your income, up to 90% of your home’s value, with terms of up to 35 years available. Choose from fixed and variable rates, with a green discount for energy-efficient homes, all backed by flexible mortgage options built around you.
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No breakage fees
Your Credit Union can offer fixed rates with no break fees, so you won’t face a charge if you need to exit your fixed rate early.
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Unlimited overpayments
You can make unlimited penalty-free overpayments, giving you the freedom to pay down your mortgage faster whenever it suits you.
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Local credit decisions
Your local Credit Union assesses your application. Local people with local knowledge.
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Member owned, not profit driven
Putting your needs first, with value and service taking priority over profits.
Mortgage Calculator
Check your repayments & how much you can borrow
Start with the numbers. Explore estimated repayments, then talk through your mortgage options with your local Credit Union.
The Three Rates
Great fixed & variable rate options
Whether you’re looking for flexibility, a rate you can plan around, or an option for an energy-efficient home, explore the Credit Union mortgage rates available for your next step.
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5-year fixed green rate
A green fixed rate from your Credit Union rewards more energy-efficient homes with an even better-value mortgage rate.
3.65% APRC 3.85% (Annual Percentage Rate of Charge)
Find out more about the 5-year fixed green rate -
5-year fixed standard rate
Enjoy the certainty of a competitively priced fixed mortgage rate, with more flexibility.
3.95% APRC 4.05% (Annual Percentage Rate of Charge)
Find out more about the 5-year fixed standard rate -
Capped variable rate
All the flexibility of a variable interest rate with the added protection of a capped maximum interest rate for the first three years of your mortgage.
3.85% APRC 3.92% (Annual Percentage Rate of Charge)
Find out more about the Capped variable rate
The Mover Journey
Step by step guide to buying your next home
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Step 2: Get mortgage approval in principle
Speak to your local Credit Union about how much you could borrow for your next home. When applying you’ll need documents showing your income, savings and financial commitments.
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Step 3: Prepare your current home for sale
Get an estate agent’s valuation and appoint a solicitor. Check your outstanding mortgage balance and whether any early repayment charge could apply.
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Step 4: Find your next home
Start viewing properties within your budget. If you need the proceeds from your current home to buy, discuss the timing of both transactions with your estate agent and solicitor.
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Step 5: Agree your sale and purchase
Once you accept an offer on your current home and have an offer accepted on your next one, your solicitor will help coordinate both transactions.
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Step 6: Finalise your new mortgage
Provide your Credit Union with the property details and any updated financial documents. Arrange the lender’s valuation and your own survey, then review your formal mortgage offer with your solicitor.
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Step 7: Get ready to complete both transactions
Your solicitor will guide you through signing contracts and coordinating closing dates. Arrange the required insurance and meet any outstanding mortgage conditions.
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Step 8: Complete your move
Your existing mortgage is repaid from the sale proceeds, and the remaining equity goes towards your new home. Your new mortgage funds are released and, once the purchase completes, you collect your keys.
Member Stories
Members who’ve been through it
Behind every mortgage is a person or family with plans of their own. These are the stories of members finding their way forward with their local Credit Union.
Over 400 member mortgage stories
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We were renting in Palmerstown and really wanted to stay near family. Our Credit Union talked us through the mortgage without making it feel like a big mystery. Getting the keys to our own place still feels a bit mad!
Aisling & Eoin,Palmerstown Credit Union -
Buying our first place was exciting, but the mortgage side had us a bit lost. Helena at Arklow Credit Union took the time to talk it through, and we never felt rushed asking questions.
Ger & Elaine,Arklow Credit Union
FAQs
Common Questions
Got a question? Explore our FAQs for straightforward answers about Credit Union mortgages.
How much can I borrow?
Home movers can typically borrow up to 90% of the value of the property. This is often referred to as the loan to value percentage or LTV. You’ll need to have the balance of the purchase price as a deposit. If borrowing 90%, you’ll need 10% as a deposit. You can borrow up to 3.5 times your income, or joint income if there are two of you, subject to affordability and lending criteria.
What rate types can I choose from?
Your mortgage advisor can explain the different rate types to you to help you choose what’s best for you. We offer fixed and variable rate options.
Variable rates can increase or decrease over time which means your repayment can go up or down.
Fixed rates stay the same over the fixed period, meaning your repayments don’t change during the fixed period either.
How long will it take to process my application?
[Answer to be confirmed by CU Mortgage Services.] Your local Credit Union will give you an indication of timings when you apply. Having your documents ready helps your application move faster.
How long will my Approval In Principle be valid for?
[Answer to be confirmed by CU Mortgage Services.] Your local Credit Union will confirm how long your Approval in Principle is valid for when it is issued.
Can I avail of a deferred start option to my mortgage?
Yes. You can defer the start of your mortgage repayments for up to 6 months on any of our mortgage rates. The skipped repayments are spread out over the rest of the term so you still repay within the original term. The deferred start option is not available on Self Build mortgages.
What other expenses might I have to pay?
As well as your deposit, allow for legal fees, a lender’s valuation, your own survey, stamp duty and insurance such as home insurance and mortgage protection cover. If you are moving, also allow for selling costs and moving expenses.
Can I make additional payments and/or repay my loan early?
Yes. You can make unlimited penalty-free overpayments at any time. Credit Union fixed rates have no breakage fees, so you won’t face a charge if you need to exit your fixed rate early.
