Credit Union
Mortgages
Credit Union Mortgage In Ireland
A Credit Union mortgage can help you make the leap from tenant to homeowner. At Croí Laighean Credit Union, we give you more than great rates, we offer fair, flexible and community-focused home loans and have home mortgages for first-time buyers, those looking to upsize, and mortgage switchers at very competitive interest rates. We also offer mortgages to self-employed and finance self-build mortgages with rates starting from 3.75%.
Great value
mortgages
Whether you’re a first-time buyer, moving home, switching to a better rate, or building your own home, we’re here to help you take your next step. Apply for a Mortgage today, and our qualified mortgage advisors will be happy to talk to you. You can also work out an affordable repayment plan with our handy Irish Mortgage Calculator below.
Check out our great value home insurance, mortgage protection, and life insurance from some of the biggest global insurance companies.
With a Croí Laighean Credit Union mortgage, you buy your home and we build your community.
Why choose a CLCU mortgage
- Mortgage rates from 3.75%
- The interest you pay is invested in your local community
- Borrow up to €650,000
- No loan to value (LTV) rate penalties - the same rate irrespective of your LTV
- A fair mortgage decision that is based on your ability to repay, not what the computer says!
- Decisions made at a local level, not an international HQ
- Interest calculated on the outstanding balance of the loan
- We don’t sell our mortgages to vulture funds
Member Reviews You Can Trust
Lets talk about your mortgage
You don’t need to be a member to discuss a mortgage with us!
Fill in the form, or call us on freephone to book a face to face mortgage consultation today!
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A Personal Approach
To Mortgages
Our experienced lenders personally assess every mortgage application – no algorithms, no cold calculations. We take the time to review your full application carefully so we can offer advice and recommendations that help you secure your mortgage.
We also use a common-sense approach when looking at your repayment ability. For example, if you’re paying rent and plan to buy a home to live in, we treat your rent as proof that you can handle mortgage repayments – not as an expense. After all, once you own your home, you won’t be paying rent anymore!
Mortgages Calculated On
Reducing Loan Balance
We calculate our mortgage payments using a reducing rate of interest. That means we base your interest on the balance you still owe — not the amount you originally borrowed.
This approach is fairer and more affordable because your interest costs decrease as you repay your mortgage. Unlike a flat-rate loan, where interest stays the same for the full term, our reducing balance method ensures you only pay interest on what’s left to pay — saving you money in the long run.
The CLCU Mortgage Application Process
(Simple Step-by-Step Guide)
Initial Enquiry – Speak with one of our mortgage advisors online, by phone, or in your local branch. We’ll explain what you qualify for and answer any questions before you apply.
Submit Your Application – You will complete a mortgage application form and provide supporting documents (see the full checklist below).
Affordability & Underwriting Review – One of our experienced lenders (a real person) reviews your full financial profile — we never use automated scorecards. We assess: income, repayment capacity, current rent (counted in your favour), existing commitments, savings patterns and overall financial sustainability.
Approval in Principle (AIP) – You’ll receive a written confirmation of the amount we can lend you. This allows you to start house-hunting with confidence.
Property Valuation – A qualified valuer assesses the property for security purposes.
Formal Loan Offer – If everything checks out, we issue a formal Loan Offer for you (and your solicitor) to review.
Legal Process – Your solicitor manages the conveyancing and ensures all legal requirements are met.
Drawdown – Once the legal work is complete, your mortgage funds are released and you get the keys to your new home.
Mortgage calculator
CALCULATOR EMBED GOES HERE
Types Of Mortgages We Offer & Eligibility
We offer a full suite of residential mortgage products designed to support you at every stage of home ownership.
First-Time Buyer Mortgages
Your first home is a huge milestone — and we guide you through each step with clear, honest advice. With mortgage rates from 3.75%, no loan-to-value penalties, and decisions made by real people (not algorithms), first-time buyers benefit from a fair, transparent process and expert local guidance. If you’re a first-time buyer looking for a mortgage, read our handy, practical, step-by-step guide for first-time buyers in Ireland, covering mortgages, deposits, eligibility, and how a Credit Union mortgage can help you buy your first home with confidence.
To be eligible for a Credit Union Mortgage, you must be 18 or older, be (or become) a member of CLCU and be purchasing or building a principal private residence.
Documents Typically Required
The exact requirements may vary depending on applicant type, but here are the typical document requirements:
If you’re employed:
- 3–6 months’ payslips
- 6 months’ bank statements
- Employment Verification (Salary Cert)
- ID & Proof of Address
- Credit report, if applicable (Irish Credit Register is checked automatically)
If you’re self-employed:
- 2 years’ accounts
- Tax returns
- Notice of Assessment
- 6 months’ business and personal bank statements
- Accountant’s details
- ID & Proof of Address
Next-Home Mortgages (Non-First-Time Buyers)
Not a first-time buyer? No problem. Whether you’re upsizing, downsizing, or simply moving to your next chapter, we offer standard residential mortgages with the same great rates, flexible terms, and member-focused approach. You can borrow up to €650,000 for your new home, and our team will work with you to assess your repayment capacity and help you secure the mortgage that suits your needs.
Mortgage Switchers
If you’re paying more than you need to, switching could save thousands. With competitive rates, local decision-making, and a simple switching process, many homeowners move their mortgage to us for better long-term value and a fairer borrowing experience.
Self-Build Mortgages
Building your own home? We proudly support self-builders with flexible staged drawdowns, competitive rates starting from 3.95%, and the option to use a gifted site as your deposit (or part of it). Our local lenders understand the self-build journey and provide personalised support at each stage. If you’re embarking on a self-build, read our handy guide, which delves into the world of self-build mortgages and unlocks the insights you need for a successful project.
Other Costs To Consider When Looking For A Mortgage Loan
BlockMany buyers are unsure of non-mortgage fees. Here’s a clear breakdown:
Frequently Asked Questions
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.
If you are experiencing difficulty repaying your loan, or believe you may in the future, please click here.
How do you get a mortgage from the Credit Union?
Simply fill out a mortgage application form and one of our experienced advisors will contact you to discuss your application.
What deposit do I need?
Typically 10% for first-time buyers, 20% for movers. Site value may contribute towards the deposit for self-builds.
Is the 3.75% rate fixed or variable?
We currently offer 5-year fixed rates from 3.75% and variable rates from 4.25%.
What makes Croí Laighean Credit Union Mortgage Rates stand out?
Our mortgage rates start from as low as 3.75%, ensuring that you get a great deal on your home financing. You can borrow up to €650,000 and unlike many other lenders, we do not impose penalties based on your loan-to-value ratio. Our Mortgage Rates stand out for their competitiveness, flexibility, fairness, community impact, and ethical approach to lending.
Do you offer self-build mortgages?
Yes! We are delighted to assist self-builders and we have some very competitive rates starting from 3.95%. If you have been gifted a site, we will consider that as the deposit, or part of it. If you’re embarking on a self-build, read our blog post which offers excellent advice for those building their own homes.
Is it better to get a mortgage from the Credit Union?
Naturally, we say yes, but here are the facts. As we are a not-for-profit, we distribute our profits to the local community. We do this through our sponsorship initiatives, community fund, bursary, and various other programmes. This means that you are directly contributing to the development of the local community, where you have purchased your home.
All mortgage applications are assessed by an experienced lender – not an algorithm. This means that we can offer advice to help you secure your mortgage. We also use a lot of common sense when assessing mortgage applications and we only charge interest on what you owe, not what you originally borrowed.
Do I need to be a member to apply for a Credit Union Mortgage?
You don’t need to be a member to discuss a mortgage application. If you plan on proceeding with the mortgage, you must join Croí Laighean Credit Union – don’t worry, it’s really simple and it can be done in a branch, or online.
Once I join, how long must I be a member before I can get a mortgage?
You can get a mortgage immediately. You don’t need to be a member for a certain length of time as our decisions are based on your repayment ability, not how long you have been a member.
How much can someone borrow?
You can borrow between €50,000 and €650,000, depending on your repayment ability. Use our Irish mortgage calculator above and adjust the sum and term to suit your repayment ability.
How long does the credit union take to approve a mortgage?
Mortgages are complex and it’s hard to determine a timeline as there are many moving parts, especially when there is a property chain involved. We will always work with our members to assist them in securing their mortgages in a timely manner.
Do you offer buy-to-let mortgages?
We only offer mortgages for a primary principal residence, so, unfortunately, we do not offer buy-to-let mortgages or commercial mortgages.
Do you offer mortgage loans to self employed?
Yes, we do. To apply for a self-employed mortgage, you will need 2 years’ accounts, tax returns & notice of assessment, 6 months’ business and personal bank statements, your accountant’s details, ID and proof of address.
Do you offer Mortgage Protection?
We work with Peopl insurance and offer mortgage protection underwritten by Royal London and Irish Life. Our Life Insurance packages are some of the best you’ll find, and we offer one of the longest terms available and one of the highest life cover terms – you’ll be hard-pressed to find a cheaper price.
