NBCU Mortgages
Introducing Mortgages
Discover the latest mortgage offering from Naomh Breandan Credit Union at an interest rate of 3.85% (3.92% APRC) capped at 4.40% (APRC 4.5%) for the first 3 years.
Naomh Breandan Credit Union is delighted to announce a mortgage offering to members. This will be available for Principle Primary Residences (PPRs) in the Republic of Ireland at an interest rate of 3.85% (3.92% APRC) capped at 4.40% (APRC 4.5%) for the first 3 years. The maximum mortgage amount is €500,000 over a term of 35 years.
.
Further details are outlined below but if you are interested in the mortgage offering we would recommend you to discuss directly with our team in Naomh Breandan Credit Union by visiting the office, phoning us at 091 841 773 or emailing us at info@naomhbreandancu.ie
What is a Mortgage?
A mortgage is a long-term loan to help you buy a home. Most mortgages are borrowed over (i.e. paid back over) 20 to 30 years, but can be longer or shorter. At the Credit Union, your mortgage can last up to 35 years. Mortgages are paid over regular repayments throughout this term. These payments will be including the interest on the loan.
Your Application
Your Credit Union can guide you through your entire application process. After you’ve completed your application and supplied your documents, we’ll review and let you know if you’ve been approved. This stage usually takes up to two weeks, and within that time we might ask for additional information while reviewing your application.
Capped Variable Rate
A brand new mortgage offering for Ireland, Credit Union Mortgages offers Credit Union members a capped variable rate, giving you all the security of a capped rate with the flexibility of a variable rate. A Capped Variable Rate Mortgage gives you certainty about your maximum monthly repayments as for the first 3 years, your repayments will never go above the cap rate, but they can come down.
Calculate Your Mortgage Repayments
Try the Mortgage calculator to get an estimate of the cost of borrowing
Maximum Loan Term :
3.92%
3.92%
3.92%
This calculator is for illustrative purposes only, to give you, the borrower, an overview of the potential cost of borrowing. The Credit Union, or any of its staff, cannot be held responsible for any errors. Please note that this calculator only provides an indicative quote and actual repayments may vary.
Mortgage Representative Example
A representative example is a term used in financial regulations. The example will help to show you the typical costs associated with a loan for a certain amount.
Loan Amount
€350,000
Rate of Interest - APRC
3.92%
Loan Term
35 years
Total Interest
€287,705
Monthly Repayment
€1,519
Total Cost of Credit
€637,705
The maximum loan amount is typically up to 3.5 times your gross annual income (or up to 4.0 times for first-time buyers) and can be no more than 90% of the property’s value. The monthly repayment on a 35-year mortgage with a variable borrowing rate of 3.85% on a mortgage of €350,000 is €1,519 for 420 months. Total amount repayable is €637,705. If interest rates increase to the cap of 4.40%, an additional €115 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.
Documents We May Require
- Payslips 3 most recent & consecutive
- Bank Statements 6 months most recent and up-to-date including all bank accounts, accounts held for savings, credit cards, etc.
- Statements for all Credit Facilities: Including mortgage statement and personal loans.
- Employment Detail Summary
- Proof of ID Passport / Drivers Licence
- PPS Number on official document
Other information may be requested for the application process. Our team will help guide you through the process.
Ready to Apply?
Contact our team in Naomh Breandan Credit Union to find out more. The best way to enquire about a mortgage is to have a chat with our staff who will be able to explain the application process in detail and all the requirements.
You can contact us on the details below or by filling in a Mortgage Enquiry Form.
- Phone us: 091 841 773
- Email: info@naomhbreandancu.ie
- Visit the office: Dunkellin Street, Loughrea
Warning – This is a variable rate loan: The payment rates on this mortgage may be adjusted from time to time.
Warning – Your home is at risk if you do not keep up repayments on a mortgage or any other loan secured on it.
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.
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 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.Terms and Conditions apply. A first legal charge is required for all mortgages. Mortgage protection insurance and home insurance are required.You should consider the total cost of the mortgage and any applicable incentive included in a mortgage offer.
* APRC = Annual Percentage Rate of Charge
Naomh Breandan Credit Union Limited is regulated by the Central Bank of Ireland (No. 135CU)
