How can I join?

Joining is made effortless and swift with our website or mobile app. Skip the queues and complete the process conveniently from your phone in the comfort of your home. Click here to become a member today!

To become a member, you need to present 3 separate forms of identification, one from each of the sections below. A minimum of €10 is required to open an account and keep it activated.

• Photo ID (e.g. Passport or Drivers Licence)
• Proof of Address (e.g. Utility Bill, Statement from a Financial Institution or Letter from a Government Department/Body dated within the last 6 months)
• Proof of PPSN (e.g. Payslip, P60, HSE card, European Health Insurance card, Correspondence from Revenue Commissioners/Dept. of Social Protection)

The proof of ID, address and PPSN is to ensure that Inspire Credit Union complies with all Money Laundering legislation.

Please Note: We cannot accept the Irish Public Service Card for any of the above.

Please Note: If you do not live in the Bishopstown or Cobh area's, you will need to provide proof that you work or study in the area. Proof can take the form of a payslip from an organisation in the area or an I.D. card from MTU or UCC etc.

Competitive Mortgage Interest Rate:
Our current rate is 3.85% (APRC 3.92%), capped at 4.40% (APRC 4.5%) for the first 3 years.

Mortgage Loan Amount:
Minimum loan amount €75,000. Maximum loan amount €500,000

Tailored Loan Terms:
Minimum 5 years.  Maximum 35 years (or up to the age of 70)

Loan Purpose:
-First time buyer purchasing PPRs
-Second or Subsequent buyer purchasing PPRs
-Switchers of PPRs
-Equity release on PPRs
-Top-Up

Flexible Borrowing Options:
First Time Borrowers - Maximum Loan to Value (LTV) 90%
Non First Time Borrowers- Maximum Loan to Value (LTV)  80%
Switcher Mortgage- Loan to Value (LTV) 80% or less

Maximum loan to income (LTI) 4 times gross annual salary for first time buyers and 3.5 times gross annual salary for second time or subsequent buyers.

Repayments:
Fortnightly or Monthly repayments of capital and interest by direct debit.

Security:
First Legal Charge over members' Principal Private Residence (PPR).
Assigned mortgage protection policy or life assurance policy covering the full amount and term of the mortgage.
House insurance with the interest of Inspire Credit Union Ltd noted on the letter of indemnity.

No Hidden Fees:
There are no unexpected charges or fees.

Income:
Euro only.

Maximum Parties to the Mortgage:
Two members (Mortgage servicing capacity will be calculated on the income of the property owners exclusively).

Property Valuation:
Valid for a maximum 6 months from date of valuation on the MSDAC Property Valuation template.  The valuation must be carried out by an external valuer who is independent from all other aspects of the property transaction.  The location of the property must be in the Republic of Ireland.

Member Focused:
We are here to support you on your journey to purchase YOUR home, giving you the trusted, member - focused service you expect from Inspire Credit Union.
Whether you are a first time buyer, moving home, or looking to switch your mortgage, we are here to help every step of the way. Get in touch today and take the first steps towards your dream home.

Inspire CU Mortgage Privacy Notice

Credit Union Mortgage Loan General Conditions 

Contact our Mortgage Department:

The following information will be required and evidence retained for all members :

Six months personal bank and credit card statements.
Completed salary certificate.
Employment Detail Summary (previously P60) for the last three year.
Members last three months’ payslips.
Copy of all loan statements for the previous six months.
Copy of last annual mortgage statements.
Copy of all savings /investment’s statements for the previous six months.
All / any other documentation as required by Inspire Credit Union, to be provided by the member(s) in advance of commencing the mortgage application, to satisfy Anti Money Laundering (“AML”) regulations.
If relevant, evidence and confirmation that any gifts received are non-repayable.

For self-employed members, the following additional financial information must be provided:

Signed Financial statements: Three years most recent audited accounts or trading accounts certified by your accountant.
Tax Clearance Certificate and letter from your accountant confirming personal and business tax affairs are up to date and in order and confirming that there are no arrangements in place with the Revenue.
Form 11 and Chapter 4 receipts from ROS for the last three years.
Six months most recent business current account bank statements. The most recent date must be dated within the last four weeks.
Six months business credit card statements.
Six months most recent statements for any business borrowings held.

Mortgage Repayment Supports

The Mortgage Arrears Resolution Process (MARP)

If you are currently in arrears or worried you might fall behind on your mortgage repayments, we are here to help. The Mortgage Arrears Resolution Process (MARP) booklet is designed to guide and support members who are experiencing financial difficulties. It outlines the steps that can be taken to find a workable solution tailored to your circumstances.

Click the link below to download a copy and learn more about the supports available to you:

Download the MARP Booklet

Standard Financial Statement (SFS)

To help us fully assess your situation, we ask that you complete a Standard Financial Statement (SFS). This form gives us a clear overview of your current financial position, allowing us to understand your circumstances and offer the most appropriate support.  Click the link below to download a copy:

Download the Standard Financial Statement (SFS)

The Central Bank Of Ireland

The Central Bank of Ireland provides independent information on a wide range of financial products through its official website  www.centralbank.ie.  Among the resources available are a Consumer Guide to Completing a Standard Financial Statement, as well as guidance on engaging with your lender under the Code of Conduct on Mortgage Arrears. For further assistance, you can contact the Central Bank of Ireland by telephone on 1890 777 777.

The Money Advice and Budgeting Service (MABS)

If you are experiencing difficulty keeping up with your mortgage repayments, support is available. The Money Advice and Budgeting Service offers free, confidential, and independent guidance to help you manage your finances. You can contact them by telephone on 0761 07 2000 or visit their website at www.mabs.ie/mortgage-arrears . In addition, the website www.keepingyourhome.ie, developed by the Citizens Information Board in partnership with the Money Advice and Budgeting Service, provides detailed information about the supports and entitlements available to mortgage holders in financial difficulty.

The Citizens Information Board

The Citizens Information Board is the statutory organisation responsible for supporting the delivery of information, advice, and advocacy on a wide range of public and social services. These services include areas such as health, employment, social welfare, and financial matters.   If you are currently in mortgage arrears or are concerned about falling into arrears, support is available. The Citizens Information Board has introduced a dedicated Mortgage Arrears Information Helpline, specifically to assist individuals facing challenges with their mortgage repayments. You can contact the helpline by telephoning 0761 074 050. The service operates from 9.30am to 5.00pm, Monday to Friday. Further information on a wide range of topics is also available on their website at www.citizensinformation.ie.

The Department of Social Protection

The Department of Social Protection provides comprehensive information on a range of welfare supports that may be available to you, depending on your circumstances. These include Jobseeker's Allowance, Mortgage Interest Supplement, and other social welfare payments and entitlements. If you are experiencing financial difficulty or a change in employment status, it may be beneficial to explore the supports for which you may be eligible. Further details can be found on the official website at www.welfare.ie.

Insolvency Service Ireland

Under the Personal Insolvency Act 2012, individuals have the legal right to seek advice from a Personal Insolvency Practitioner. These qualified professionals can offer guidance on a range of solutions for managing serious debt difficulties.  For further details and support, you can visit the official website of the Insolvency Service of Ireland at www.isi.gov.ie.

Information Brochure

Mortgage Application Guide