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MFCU Mortgage Interest Rate Changes

MFCU Member Notice

Following recent interest rate increases from the European Central Bank (ECB), MFCU is announcing a number of interest rate changes.

Mortgage TypeCurrent RateNew Rate (in effect from 1st July 2023)
Variable Interest Rate4.25%4.75%
3 Year Fixed Interest Rate3.5%4.5%
5 Year Fixed Interest Rate3.2%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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