Mortgage

When you take out a loan with us, you help us give back to support a variety of community activities – from local schools, local charities, community groups and sports clubs.

Loan Calculator

WARNING: THE COST OF YOUR MONTHLY REPAYMENTS MAY INCREASE.

WARNING: IF YOU DO NOT KEEP UP YOUR REPAYMENTS YOU MAY LOSE YOUR HOME.

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.

In order to review and assess an application, we will look at all documentation submitted by you in conjunction with other standard checks. These checks may include but are not limited to – obtaining an independent valuation of the property in question and carrying out a credit history check on the applicant/s.

How to Apply

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Existing members can come in to any of our offices, call us on
053 9233 835, email loans@enniscorthycu.ie or make an application online when they are registered. We can then discuss your needs and proceed with your loan application.

Become a Member

What We Require

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1

Outgoings

• Previous six (6) months bank statements (all accounts)
• Previous six (6) months credit card statement (if applicable)
• Previous six (6) months statements for all borrowings
• Mortgage statement (if applicable)

2

Proof of Income

• Employed - 6 months’ up-to-date consecutive pay slips
• Employed - Previous 3 years End of year Statement (previously called P60);
• Employed - Salary Certificate signed & stamped by your employer(s)
• Employed - Statements for any savings and/or investment (previous six (6) months)
• Self-employed - For company 3 years audited/trading accounts (certified by your accountant)
• Self-employed - Confirmation of tax position from your accountant
• Sole/non-company traders – 3 years Revenue Notice of Assessment

3

Other Conditions

• Evidence of source of remaining values of property
• Valuation of property
• Property title must be in the name(s) of the borrower(s)
• Mortgage on property in favour of Enniscorthy Credit Union Limited
• Signed Undertaking that property will be Principal Private Residence
• Life Assurance assigned to Enniscorthy Credit Union Limited
• Fire Insurance naming Enniscorthy Credit Union Limited
• Self build projects - Builders Insurance naming Enniscorthy Credit Union Limited
• Full security pack dealt with by credit union solicitor
• Disbursement of loan made through member's solicitor

Avoid Your Account Becoming Dormant

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If your account has been dormant or we don’t have up to date information, we may also require confirmation of address (not more than 6 months old) e.g. utility bill and/or proof of PPS number e.g. revenue documentation. Find out more about acceptable documentation.

View Acceptable Documentation

Lending Criteria

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Amount & Terms

Minimum Loan €50,000
Maximum Loan €350,000

Minimum term 5 years
Maximum Term 35 years

This loan is for the purchase of a member's home. It must be occupied with the member as their principal private residence. A Mortgage is secured with first charge on the property.

Maximum Loan to Value

Non-first time buyers - 80% loan-to-value

First time buyers – 90% loan-to-value

Repayment frequency monthly

For self-build property the maximum loan is the lower of 75% of Final Valuation or 100% of build cost, subject to maximum loan of €350,000

Insurance Requirements

You will be required to provide Life Assurance for the loan at your own expense with any provider of your choice.

Please note: When applying for a mortgage with us you will need to speak directly with one of our mortgage team. Please call 053 9233 835.

For more information on becoming a member please contact us today. Contact