Introducing Ireland’s New Capped Variable Rate Mortgage
At Heritage 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.
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.
With Heritage 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 monthly
- 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.
Ready to take the next step?
Contact our mortgage team today to arrange a chat with friendly advice from people who care.
- Phone us on (01) 490 0162
- Email us info@heritagecu.ie
- Call into the office for more information
- Apply Now via the form below
Heritage Credit Union Mortgage Calculator
Use our calculator to estimate your monthly mortgage repayments, or switch tab to check how much you could borrow.
Representative Example
Loan Amount
€200,000
Loan Term
25 years
Monthly Repayments
€1,039.28
Interest Rate
3.85% (3.92% APRC)*
Cost of Credit
€111,763
Total Repayable
€311,763
* 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 25-year mortgage with a variable borrowing rate of 4.4% on a mortgage of €200,000 is €1,100.34 for 300 months. Total amount repayable is €330,103. If interest rates increase to the cap of 4.4%, 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.
Useful Links
For more information regarding our Mortgage General Terms and Conditions Click here
For more information regarding our Terms Of Business Click here
For more information regarding Variable Rate Policy Click here
For our Complaints Form Click here
WARNING: This is a variable-rate loan: The payment rates on this mortgage may be adjusted from time to time.
WARNING: Your home is at risk if you do not keep up repayments on a mortgage or any other loan secured on it.
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 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.
Loans are subject to approval. Lending criteria, terms and conditions apply. Mortgage approval is subject to a satisfactory assessment of suitability and affordability. Applicants must be over 18 and resident in the Republic of Ireland.
Terms and Conditions apply. A first legal charge is required for all mortgages. Mortgage protection insurance and home insurance are required.
* APRC = Annual Percentage Rate of Charge
Heritage Credit Union Limited is Regulated by the Central Bank of Ireland. Registration Number: 42CU.
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