MFCU Mortgage Interest Rate Changes
Following recent interest rate increases from the European Central Bank (ECB), MFCU is announcing a number of interest rate changes.
| Mortgage Type | Current Rate | New Rate (in effect from 1st July 2023) |
| Variable Interest Rate | 4.25% | 4.75% |
| 3 Year Fixed Interest Rate | 3.5% | 4.5% |
| 5 Year Fixed Interest Rate | 3.2% | 4.2% |
Some key points about these changes are outlined below.
- For most members, this change will take effect from 1st July 2023
- Members who drawdown a fixed rate mortgage before this date will have the current rates honoured.
- MFCU will write to all impacted members, confirming the new interest rate, the effective date, and their new repayment amount.
- All rates / calculators on this page are now based on new rates.
- Please visit our Mortgage page for full details about MFCUs Mortgage offering.
Useful Links
Mortgage FAQ’s
How much can I borrow?
With an MFCU Mortgage, the minimum loan amount is €100,000 and the maximum amount is €500,000. The minimum term of the loan is 5 years with a maximum term of 35 years. Estimate how much you can afford to borrow with our mortgage loan calculator here.
Will I need a deposit?
Yes. You will need a minimum of 10% of your mortgage amount as a deposit if you are a First Time Buyer & minimum of 20% of deposit is required for Second Time buyers. You will also need some extra funds for the legal fees of purchasing a home.
Can I borrow to buy a holiday home or investment property?
No. You can only borrow towards the purchase, equity release and if switching your mortgage on the PPR (Principal Private Residence).
I have my deposit, what do I do now?
You can fill out our mortgage enquiry form online here and one of our dedicated mortgage advisors will give you a call to discuss your potential mortgage application with MFCU.
What happens after I apply?
We will contact you if there’s anything else we need and we will send you a decision on your mortgage application as quickly as possible.
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