Step 1: Review your current mortgage
Check your outstanding balance, interest rate, monthly repayment and remaining term. If you’re on a fixed rate, ask your lender whether an early repayment charge would apply.
Switching your mortgage
Switch to a mortgage built around you, with flexible options and personal service from 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
Why a Credit Union mortgage
Why switchers choose a Credit Union Mortgage
Your home hasn’t changed, but what you need from your mortgage might have. Switch to your Credit Union for personal service from local people who understand your needs. Choose from fixed and variable rates, with a green discount for energy-efficient homes and flexible options built around you. We’ll guide you through the switching process and help you explore a mortgage that suits your circumstances.
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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 Switcher Journey
Step by step guide to switching your mortgage
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Step 2: Explore your options
Talk to your local Credit Union about your mortgage options. Compare repayments, flexibility and the overall cost, allowing for legal fees, valuation fees and any early repayment charge.
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Step 3: Apply for your new mortgage
Provide the documents needed to assess your application, including evidence of income, bank statements and details of your existing mortgage.
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Step 4: Arrange a valuation and appoint a solicitor
Your Credit Union will require a valuation of your home. You’ll also need a solicitor to handle the legal work involved in moving your mortgage.
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Step 5: Review your mortgage offer
Once approved, you’ll receive a formal mortgage offer. Your solicitor will explain the documents and guide you through signing.
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Step 6: Get ready to switch
Meet any outstanding mortgage conditions and arrange any updates needed to your home insurance and mortgage protection cover.
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Step 7: Complete your switch
Your new mortgage funds are released through your solicitor to repay your existing lender. Your mortgage then moves to your local Credit Union, and repayments begin under your new agreement.
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.
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 borrow more when switching my mortgage?
You may be able to borrow more when you switch, for example for home improvements, subject to affordability, the value of your home and lending criteria. Talk to your local Credit Union about your plans.
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.
