Your Next Mortgage – Your Next Home

Introducing Ireland’s First Capped Variable Rate Mortgage

At St. Francis Credit Union, we’re proud to bring you something truly unique – our Capped Variable Rate Mortgage. It gives you the flexibility of a variable rate with the peace of mind of a fixed 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% (APR 3.92%), capped at 4.40% (APRC 4.5%) for the first 3 years.

  • Maximum term is 30 yrs
  • LTV (Loan to Value of Property) is 85%
  • Deposit required is 15%

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 St. Francis 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 St. Francis Credit Union, you’ll enjoy:

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

  • 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.

If you choose to make a Lump Sum or overpayment, you can then 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.

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

Mortgage Loan – 3.85% (3.92% typical APR)

Representative Example

A 30 year Mortgage Loan of €350,000 will have monthly repayments of €1,641, Interest 3.85% variable, (3.92% APR). If the APR does not vary during the term of the loan the total cost of credit is €240,698. The total amount payable is €590,698.

Loan Amount Interest Rate Loan Term Total Interest Monthly Repayment Total Cost

€350,000

3.85%

30 Years

€240,698

€1,641

€590,698

Mortgage Calculator


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@stfranciscu.ie

Terms & Conditions

Lending criteria, terms and conditions will apply. Security is required. Maximum loan-to-value limits are in place for the purchase of property. Please contact us for further details.

Loan requests are considered on the basis of proof of income, financial status, and demonstrated repayment capacity (including capacity to repay at higher interest rates). Loans are not available to members under the age of 18. Mortgage loans will be required to be secured by a mortgage and charge on the subject property and suitable savings/protection policies.

If you or your dependents intend to use the property as your principal private residence, you must show us evidence of mortgage protection insurance, unless you are exempt under the Consumer Credit Act, 1995.

Warnings

Warning: If you do not keep up your repayments you may lose your home
Warning: You may have to pay charges if you pay off a fixed-rate loan early.
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: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term.
Warning: The cost of your monthly repayments may increase – if you do not keep up your repayments you may lose your home.

Additional Information

  • The maximum proportion of loan to income of the borrower(s) which will normally be provided is 3.5 times gross annual income, or 4 times gross annual income for first-time buyers.
  • The maximum loan amount is generally up to 85% of the property value.
  • The mortgage will be subject to assessment of suitability and affordability.
  • Available to over 18s only.
  • Property and life insurance are required.
  • You mortgage your home to secure the loan.

A 1% interest rate rise would increase monthly repayments by approximately €53.89 per month.

APRC calculations are based on the cost per month on a €100,000 mortgage over 20 years.

Warning: IF YOU DO NOT PROVIDE US WITH THE REQUESTED INFORMATION AND DOCUMENTATION, WE WILL NOT BE ABLE TO ASSESS YOUR APPLICATION AND CREDIT MAY NOT BE GRANTED.

For more information on mortgages, please visit the Competition and Consumer Protection Commission (CCPC).