Your New Home For Mortgages

Introducing Ireland’s New Capped Variable Rate Mortgage

At Ballinasloe Credit Union, we’re proud to bring you something truly unique – Ireland’s new Capped Variable Rate Mortgage.

It gives you the flexibility of a variable rate with the peace of mind of a capped rate.

How? Your repayments will never go above a set limit during the capped period, no matter how rates may change.

Our current rate is 3.85% (APRC 3.92%), capped at 4.40% (APRC 4.5%) for the first 3 years.

Who is this mortgage for?

Whether you’re stepping onto the property ladder for the first time or making your next move, our mortgage is designed to fit a variety of needs:

First-Time Buyers

Start your journey with confidence.

Movers

Make your next house a home.

Switchers

Move your mortgage to us and enjoy the benefits.

Self-Builders

Build your dream from the ground up.

Why choose Ballinasloe Credit Union?

We believe that getting your mortgage should feel exciting, not overwhelming. From envisioning your dream home to picking up the keys, we’ll be with you every step of the way.

With Ballinasloe Credit Union, you’ll enjoy:

  • Local decision-making – All lending decisions are made here in your community, with your best interests at heart.

  • Our own rates – We set our own competitive mortgage rates.

  • Flexible repayments – Pay fortnightly or monthly, whichever suits you.

  • No early repayment penalties – Pay off your mortgage faster if you wish.

  • Transparent costs – No hidden fees or surprise charges.

  • Personal service – We know our members, and we’re here to support you.

Key Features of Our Capped Variable Rate Mortgage

Your interest rate will never go above the agreed cap during this time.

Make lump sum or regular extra payments. You decide whether to:

  • Reduce your monthly repayments while keeping the same term, or
  • Keep your repayments the same and shorten your mortgage term.

Tailor your mortgage to your lifestyle and financial goals.

Download: Ballinasloe Credit Union Variable Rate Policy Statement

Typical Costs to Plan For

When buying or building a home, you should also budget for:

Stamp Duty

Conveyancing (Solicitor) Fees

Mortgage Valuation Fee

Home Insurance & Mortgage Protection/Life Insurance

Ready to take the next step?

Contact our mortgage team today to arrange a chat with friendly advice from people who care.

Email Us: loans@ballinasloecreditunion.ie

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

€300,000

Term

35 Years

Monthly Repayment

€1,302

Interest Rate – 3.92% APRC

3.85%

Cost of Credit

€246,607

Total Repayable

€546,607

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.

* APRC = Annual Percentage Rate of Charge

Ballinasloe Credit Union (Our Lady of Lourdes) Limited , trading as Ballinasloe Credit Union, is regulated by the Central Bank of Ireland and authorised as an investment business for the provision of investment intermediary services.

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