Mortgages

Introducing Ireland’s New Capped Variable Rate Mortgage

At Health Services Staffs 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. Our mortgage loan lends from €50,000 to €700,000.

*APRC (Annual Percentage Rate Charge) is the total cost of credit to the consumer, expressed as an annual percentage of the total amount of credit. It includes interest and all standard fees payable by the consumer in connection with the loan.

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.

Why choose HSSCU?

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 HSSCU, you’ll enjoy:

• All lending decisions are made 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

• 3-year capped rate period – Your interest rate will never go above the agreed cap during this time.
• Overpayment options – 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.
• Flexibility built in – 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

Ready to take the next step?

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

If you want to find out more about our mortgage, or begin your application process, talk to us at HSSCU. You can get in touch by emailing us at mortgages@hsscu.ie 

The maximum loan amount is typically up to 3.5 times your gross annual income (or up to 4.0 times for first-time buyers) and can be no more than 90% of the property’s value. The monthly repayment on a 20-year mortgage with a variable borrowing rate of 3.85% on a mortgage of €100,000 is €598.11 for 240 months. Total amount repayable is €143,545. If interest rates increase to the cap of 4.40%, an additional €29.15 would be payable per month. For this example, Annual Percentage Rate of Charge (APRC) of 3.92% applies and consists of variable borrowing rate of 3.85%. It does not include valuation fees, legal fees, or other third-party charges that may apply.

Lending criteria, terms and conditions apply. Applicants must be over 18 and resident in the Republic of Ireland. Mortgage approval is subject to a satisfactory assessment of suitability and affordability.

WARNING: You should consider the total cost of the mortgage and any applicable incentive included in a mortgage offer.

WARNING: If you do not keep up your repayments you may lose your home.

WARNING: Your interest rate may increase and the amount of your mortgage repayments may increase as a result.

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.

Health Services Staffs Credit Union Ltd. is regulated by the Central Bank of Ireland.