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Great value mortgages
Interest calculated on reducing loan balance
Over €52 million
Borrowed by members last year
3.75%
Mortgage rates from 3.75%
Simple mortgage process
Fair & transparent lending
Credit Union Mortgages
A Credit Union Mortgage can help you make the leap from tenant to homeowner. We have home Mortgages for first-time buyers, those looking to upsize, and Mortgage Switchers at very competitive interest rates. We also finance self-build mortgages with rates starting from 3.95%. So, when you’re ready to take those first steps toward your first home, or it’s time to move to your next, we will be ready to help.
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
Lets talk about your mortgage
Please note, Croí Laighean Credit Union can only finance residential mortgages. Buy to let and commercial mortgages are not available
Mortgage calculator
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.
Frequently Asked Questions
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 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 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.
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.
Call us on freephone 1800 23 24 25 to book a face to face mortgage consultation today!
Why choose a Croí Laighean Credit Union Mortgage?
When you take out a mortgage with us, you get more than just a great rate and a fair decision — you help grow your local community.
As a not-for-profit, Croí Laighean Credit Union reinvests the money we earn from your mortgage interest directly into local clubs, groups, and organisations. Your repayments fund the amenities that keep our communities thriving — that’s why our motto is, “You buy your home, and we build your community.”
We always put our members first and act in your best interests. Credit Unions are Ireland’s most trusted organisations and have won the CX Customer Experience Award ten years in a row. That’s just one more reason to choose Croí Laighean Credit Union for your mortgage.
If you’re buying your first home, upsizing, or switching to a better rate, get in touch today — we’ll help you find the mortgage that fits you best.
Repayment Example:
If you switch a mortgage of €250,000 over 30 years, your repayments will be €1,158 per month at a variable rate of 3.75% (APR 3.81%). The cost of credit is €166,804, bringing the total amount repayable to €416,804.
We’ve taken every care to make this information accurate, but Croí Laighean Credit Union and our staff can’t accept responsibility for any errors or omissions. Our Irish Mortgage Calculator is for illustration only and gives you an overview of potential borrowing costs.
Mortgage rates are correct as of 10/07/2023 and may change.
Croí Laighean Credit Union is regulated by the Central Bank of Ireland.
Frequently Asked Questions
CLCU have loans for everything you want to borrow for. Whether it’s a new car, a dream kitchen, or getting onto the property ladder for the first time, CLCU can help you. We offer loans of up to €100,000 and we also do larger business loans, and mortgages up to €650,000. Read more about our loans here.
Your loan will be granted based on your repayment ability. You do not need to have money in your account unless you are applying for a covered loan – in this case, you must have at a minimum, the amount you are looking to borrow.
You can join and apply on the same day! You don’t need to be a member for a certain length of time to apply as we base our decisions on your repayment ability. You can find out more about our loans here.
We make quick loan decisions, with some loans being approved on same day.