This booklet is a helpful guide to you learning more about our mortgage offering.
Your Mortgage. Made Simple.
5 Reasons You Should Choose Altura Credit Union 1 A Lender You Can Trust Credit Unions are consistently Ireland’s most trusted organisations, winning the CX Customer Experience Award and others! Altura Credit Union has been embedded in our local community for close to 60 years. We know you and you know us, and we are here to help.
Borrow up to €400,000
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We want to support you to get the home of your dreams, which is why we are delighted to offer mortgages up to €400,000. We offer single- and joint-applications of up to 4 times your gross salary, with varying deposit levels.
Flexible Repayment Options
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The maximum term on our mortgages is 35 years (T&Cs apply), and we can help you choose a term length that suits you. All our mortgages offer an early repayment option, which could help you save on the cost of credit.
Competitive Rates
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Our Standard Mortgage (Variable Rate) is one of the best in the market. It’s easy to check what your monthly repayments could look like by using our Online Mortgage Calculator.
We Support You
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Our dedicated staff will help you every step of the way. We will make things as stress-free as possible for you via in-person meetings and our mortgage checklist. Page 2 Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
Our Types of Mortgages
Movers & Switchers Our package for Movers & Switchers is designed to make things as smooth as possible. Contact us for more information. Up to 90% loan-to-value for principal private residence 3.5x gross annual income First Time Buyers We offer a great package for First Time Buyers. As a Credit Union, we will be there to support you throughout your journey while offering great value. Up to 90% loan-to-value for principal private residence 4x gross annual income Self Builders Turn your plans into the home you’ve always imagined. With Altura Credit Union, you’ll have the flexibility and support to build your future, your way. Up to 90% loan-to-value for principal private residence 4x gross annual income for First Time Owners Up to 90% loan-to-value for principal private residence 3.5x gross annual income for Home Movers
Not a Member? Not a Problem! If you live, work or study within our common bond you can apply for membership and avail of our member only mortgage rate. See page 9. For the latest rates and other details, borrowing limits etc, please visit www.alturacu.ie/mortgage Page 3 Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
Steps To Getting Your Mortgage Approval A helpful overview of what to expect. Please note this is a general guide — your specific case may follow a different path and take more or less time depending on the details.
Initial Enquiry Contact us to make an initial enquiry and discuss your possible application and the options available to you. We will tell you whether you may be eligible to apply for mortgage approval in principle. Joint Account If this is a joint mortgage application, you must have a joint credit union account before you submit your application. Open it now to avoid delays later. Application Form We will ask you to complete our mortgage application form and gather all the supporting documents. Wait until you have all the documents and information before sending the form to us. Make sure you complete all the boxes and sign it at the bottom. Approval in Principle We will review all your information and let you know if we need anything extra. When we have all the documents we need, we will carry out credit checks and make a decision on your application. If you are successful, we will issue you a Letter of Approval in Principle, which confirms how much we are willing to lend to you, subject to the conditions in the letter, including a valuation and the property being suitable security for the loan. This will allow you to find a suitable property within your budget. Your Approval in Principle will last for 6 months. If the 6 months surpass, you may need to submit new documents. Find a Property When you find a suitable property, contact us and we will arrange a valuation with a valuer on our panel. You must tell us at this stage if there have been any changes to your circumstances that might affect your ability to repay since the approval in principle was issued. i.e. New job Formal Offer Letter Once our lenders are satisfied with all the information provided, your formal letter of offer will be issued, and we will send you and your solicitor the documentation needed to draw down your mortgage.
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
All applicants must be, or be eligible to become, an Altura Credit Union member. Proof of Deposit – Details of the source of your Deposit to complete the proposed property purchase will be required 6 months most recent current account statements 3 most recent consecutive payslips prior to the mortgage application PAYE Employee Salary Certificate to be signed and stamped by your employer. (This is included in Mortgage Pack) Standard Documents – Required for All Applications Additional Documents may be required on request Please provide documents electronical where possible
1st Applicant
2nd Applicant
For Self-Employed/Sole Trader Most recent 2 years audited accounts/ trading accounts certified by your accountant
2 most recent Revenue acknowledged Form 11’s
6 months most recent business current account statements
Up-to-date tax clearance certificate
Altura Credit Union Ltd. is regulated by the Central Bank of Ireland. Security, property insurance, and life cover required. Loans are subject to approval. Terms & Conditions apply.
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Standard Documents – Required for All Applications Additional Documents may be required on request Please provide documents electronical where possible
For Self-Build Full Planning Permission Approval
Altura Building Forms to be completed by your architect/engineer
Self-Build Insurance required (Course of Construction Insurance)*
*You will be advised when this is required
Steps from Approval to Drawdown 1. Altura Credit Union will organise a valuation of your property with a valuer from our panel, to ensure it’s suitable security for the loan. 2. Once this is done, we will send a pack of mortgage documents to your solicitor. 3. Your solicitor will review the documents and advise you on them before you sign and return them to us. 4. You will need to provide us with all additional requested documentation prior to drawdown - including property insurance. 5. Your solicitor may bring matters to our attention before drawdown, and our solicitor will deal with these. 6. When all documentation is received to Altura Credit Union’s satisfaction, your mortgage is ready to be drawn down.
There are two forms of insurance you need to consider before you draw down your home loan: Life Insurance and Home Insurance. See pages 8 & 9 for our affiliated providers.
Security, property insurance, and life cover required. Loans are subject to approval. Terms & Conditions apply. Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
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What Other Things Do I Need to Know?
To qualify for a mortgage you must be over 18
You must be eligible to permanently live/work in Ireland
The property must be your principal residence
You must give us a first legal charge over the property
What can you do to make things run smoothly?
Double check that every document is signed correctly
Arrange your property and life insurance well in advance, these have to be in place for drawdown
Provide us and your solicitor's details and any documents asked for as soon as you can
Make sure you get all of the documentation that is requested for the special conditions to us in time
If you are receiving a gift to help with your property purchase, please give the individuals providing the funds the letter included in the application form for them to complete.
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
Mortgage Protection Cover (Life Insurance) is a mandatory requirement for all mortgage holders — it ensures that, in the event of your death during the mortgage term, your loan is cleared and your family’s home remains secure. At Altura Credit Union, we’ve partnered with Irish Life, one of Ireland’s leading protection providers, to make arranging your cover simple and straightforward. When you apply for your mortgage, your Loan Officer will discuss the Irish Life referral process with you and outline the cover options available. This ensures you get the right protection in place before your mortgage is finalised. Your mortgage. Your protection.
Page 8 Irish Life Financial Services Limited, trading as Irish Life, is regulated by the Central Bank of Ireland. Irish Life Financial Services is an insurance intermediary tied to Irish Life Assurance for life and pensions. . Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
Protect Your Home with Allianz Home Insurance (Property) is a mandatory requirement for all mortgage holders — it ensures that your home and possessions are protected against unexpected events such as fires, storms, or water damage. Your Loan Officer will help you through the Allianz process, explaining the available options so you can select the cover that best suits your needs.
Allianz p.l.c. is regulated by the Central Bank of Ireland. Standard acceptance criteria, terms & conditions apply.
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
Not a Member? Sign up today
Download our Mobile App
Complete form Verify your Identity
Upload required documents
Await approval
Scan to download on Apple
Scan to download on Android
Terms & Conditions apply
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
NOTES
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
WARNING: IF YOU DO NOT KEEP UP YOUR REPAYMENTS, YOU MAY LOSE YOUR HOME.
WARNING: YOU SHOULD CONSIDER THE TOTAL COST OF THE MORTGAGE AND ANY APPLICABLE INCENTIVES INCLUDED IN A MORTGAGE OFFER
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 CREDIT AGREEMENT, YOUR ACCOUNT WILL GO INTO ARREARS. THIS MAY AFFECT YOUR CREDIT REPORT, WHICH MAY LIMIT YOUR ABILITY TO ACCESS CREDIT IN THE FUTURE.
WARNING: POSSIBLE FLUCTUATIONS IN THE INTEREST RATE COULD AFFECT THE AMOUNT PAYABLE.
Speak with Altura Credit Union today about starting your mortgage application.
www.alturacu.ie mortgages@alturacu.ie 0818 345 925
Security, property insurance and life cover required. Loans are subject to approval. Applicants must be aged 18 or over. Terms & Conditions apply.
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Altura Credit Union Ltd. is regulated by the Central Bank of Ireland.
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