Mortgage Affordability Calculator
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.
LOANS ARE SUBJECT TO APPROVAL. TERMS & CONDITIONS APPLY.
WARNING – IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.
WARNING – POSSIBLE FLUCTUATIONS IN THE INTEREST RATE COULD AFFECT THE AMOUNT PAYABLE.
Mortgage Information and Criteria
- You must be a member of Life Credit Union before submitting a mortgage application.
- Mortgage is for Principle Private Residence (Family Home) only; we do not provide mortgages for investment/rental properties.
- Minimum mortgage amount is €100,000; Maximum mortgage amount is €500,000. Terms & Conditions apply.
- Maximum mortgage term is 35 years; however, mortgage term cannot exceed member’s 70th Birthday.
- Maximum LTV ratio is 90% for first time buyers, therefore minimum deposit of 10% of the property purchase price is required. Member must also have enough funds to cover Stamp Duty & Solicitor’s Fees.
- At least one applicant must be permanently employed and have passed the required probation period, or be self-employed for a minimum of 3 years.
- You must have a demonstrated repayment capacity. This can be demonstrated through savings history, recently cleared lending facilities or rent payment history.
- Underwriting is determined by an assessment of ability to repay & previous credit history.
- Mortgage Protection life assurance will be required.
*(APRC) = Annual Percentage Rate of Charge
€200,000 loan repayable over 20 years.
Rate of interest 4 per annum variable.
3.57% APRC, 240 monthly repayments of €1,159.92 per month.
Total cost of credit €78,380.66, total amount payable €278,380.66