Savvi Member
Mortgage Update
Thank you for your interest in our Savvi Member Mortgage.
Similar to all credit unions, Savvi Credit Union is subject to Central Bank regulatory limits which restrict the amount of mortgages we can provide to our members.
Due to the high demand of our offering we are nearing the maximum portion of our loan book permitted for mortgage lending. To remain compliant as always with Central Bank regulatory requirements, we therefore have no option but to pause this product.
Consequently, we are unable to accept new mortgage applications at this time.
If you wish, you can leave your contact details below and we’ll be in touch if the above situation changes, however, If your mortgage requirements are time-sensitive, you may need to pursue other options.
If you would like any further information on this, please contact us at mortgages@savvi.ie and a member of our team will be in touch.
Lending criteria, terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. 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 can find our variable rate mortgage policy statement here.
*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.
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 keep up your repayments you may lose your home.
