Introducing Ireland’s Newest Capped Variable Rate Mortgage

Your Next Mortgage – Your Next Home

At The Lough 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 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.

*APRC: Annual Percentage Rate of Charge

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 The Lough 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 The Lough 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.

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.

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*

*Refunded on drawdown

Home Insurance & Mortgage Protection/Life Insurance

Our Current rate is 3.85% (APRC 3.92%), capped at 4.40% (APRC 4.5%) for the first 3 years.

Representative Example

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 30-year mortgage with a variable borrowing rate of 3.85% on a mortgage of €350,000 is €1641 for 360 months. Total amount repayable is €240,599.59. If interest rates increase to the cap of 4.40%, an additional €111.60 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.

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

€350,000

3.85%

30 Years

€240,599.59

€1,641

€590,599.56

Maximum mortgage available is €450,000

Ready to take the next step?

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

Email Us: mortgages@loughcu.ie

Additional Information

For more information regarding our Mortgage General Terms and Conditions Click Here

For The Credit Union Mortgage Variable Rate Policy Statement Click Here

For our Complaints Form Click Here

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.

  • 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.

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

Financial Difficulties

  • If you are experiencing financial difficulties, talk to us. We’re here to support you through difficult times.

    Like many of our members, your financial situation may have changed over time. You may be concerned about managing your borrowings, now or in the future. The sooner you contact us, the easier it will be for us to help.

    At different life stages, and for many reasons, the family budget can come under strain. It is very important not to ignore the early signs of financial difficulty or stress.

    If you are experiencing financial difficulty, the first and most important step you can take it to talk to us today. Call 021 496 3384 or e-mail staff@loughcu.ie and we’ll take it from there.

    Alternatively, you can visit the following websites for help and guidance: