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Do Credit Unions give mortgage loans over 30/35 years?

  • 08-05-2020 5:16pm
    #1
    [Deleted User]
    Posts: 0 ✭


    My locals only does 25 and have been approved for up to €70,000 but I’d like to find one that does 30/35 years


Comments

  • #2
    phormium
    Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    I don't think so, 25 is even good but there may have been some changes since I was last involved, it used to be max of 15 at that time.


  • #3
    2Mad2BeMad
    Registered Users, Registered Users 2 Posts: 2,792 ✭✭✭2Mad2BeMad


    Not to mention the rates are higher then the banks.
    At least my CUs are.


  • #4
    phormium
    Registered Users, Registered Users 2 Posts: 3,395 ✭✭✭phormium


    Most people who go for CU mortgages do so because for one reason or another a bank mortgage doesn't suit or their situation/property doesn't suit the bank more like!


  • #5
    PHG
    Registered Users, Registered Users 2 Posts: 475 ✭✭PHG


    You want approval for €70,0000 over 30/35 years?

    Why not save?

    Mortgages over 30/35 years will cost way more in interest, why ot stick to 20? With such a low amount even 10/15


  • #6
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    If you can avoid the credit union, do.

    I am with them as my house was an unusual purchase, and it made more sense to skip by the bank and use the CU instead. Got 80k at 5.9% (15 years). Not a day goes by where I don't feel robbed by the interest rate (and it's secured against the house, so it's a secured loan at a standard unsecured loan's interest rate, effectively).


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