Mortgages

• Any member over the age of 18 can apply for a mortgage
• Maximum term available is 35 years
• Maximum loan to value is 90% therefore a minimum deposit of 10% of the property purchase price is required. Member must also have enough funds to cover Stamp Duty & Solicitor’s Fees.
• Maximum loan to income: 4 x times for first-time buyers and 3.5 times for Switchers or Movers
• Mortgage is for Principal Private Residence (Family Home) only. We do not provide mortgages for investment/rental properties.

Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status. Security and Insurance are required. You can find our mortgage data protection statement here. A typical €250,000 twenty-five-year loan with a variable interest rate of 3.75% and 3.82% APR (Annual Percentage Rate), where the APR does not vary during the term, would have monthly repayments of €1,285.33 and the total cost of credit (the total amount repayable less the amount of the loan) would be €135,562.77

*You must have mortgage protection insurance in order to take out a mortgage loan. Savvi provides mortgage protection insurance on mortgages up to €500k. Savvi’s mortgage protection insurance is a policy provided by a third party insurance company for and on behalf of Savvi Credit Union Limited. It provides limited life cover on mortgages issued by Savvi subject to terms and conditions and exclusions of the policy. The cover is held by Savvi Credit Union and not by you.  It is a block policy rather than on an individual basis and therefore is NOT tailored to your needs. It remains your responsibility to ensure you have sufficient mortgage protection/life cover to meet your needs.

If you already have life cover and are considering moving your mortgage to Savvi, it is important that you get independent financial advice before cancelling any existing life cover you may have in place. The credit union cover will be provided free of charge even if you have additional cover, but it is important to be aware that it can be costly and difficult to get life cover as you get older. Therefore, it is not always advisable to cancel an existing policy.