Home Loan Pilot Program

Eligibility for Wexford Credit Union Home Loans Pilot Program 

Maximum loan

The maximum loan per individual or connected individuals is €100,000 for home loans.

Maximum term

The maximum term for new home loans is 25 years.

Current Interest rate

4.9% Variable

Eligible home purchases

A home loan is defined as a loan made to a member secured by property for the purpose of enabling the member to;

  1. have a house constructed on the property as their principle residence;
  2. improve or renovate a house on the property that is already used as their principal residence;
  3. buy a house that is already constructed on the property for use as their principal residence; or
  4. refinance a loan previously provided for one of the purposes specified above for the same purpose.

Our conditions

The following conditions are also imposed:

  1. The credit union will hold the first legal charge secured on the property for any home loans;
  2. The maximum loan to value will be 80%;
  3. Debt to Income ratio will not exceed 40%;
  4. Loan advanced will not exceed 3.5 times gross income of borrower/s;
  5. The credit union will seek legal advice on all proposed transactions under this category.
  6. In the event the credit union is defrauded, it reserves the right to pursue matters with the appropriate regulatory authority.
  7. In the event the loan term extends past the consumer’s expected retirement age, the credit union will take appropriate account of the adequacy of the member’s likely income and ability to continue to meet obligations under the credit agreement in retirement.
  8. It is the policy of the credit union to pursue defaulting members for repayment of outstanding home loans. The Board authorises the repossession of property that has been held as security against a housing loan after all appropriate resolution processes have been exhausted.



The Borrower is liable to pay the legal fees, costs and outlay (excluding costs associated with the Lender’s legal investigation of title for the purpose of the legal mortgage and charge) incurred in respect of the Loan.


If you would like further information, please email homeloans@wexfordcreditunion.ie or call 053 9123909

Information on WCU’s Life Insurance


Wexford Credit Union Limited (WCU) provides free Loan Protection Insurance to eligible members. This means that, in the event of your passing during the term of your loan, you can have peace of mind that your dependents won’t have to pay the outstanding balance.


ECCU’s Loan Protection Insurance may be used as insurance protection for loss by the credit union on a mortgage, as long as there are no health exclusions applying.


However it is important that, as a member, you understand this is not a mortgage protection type of insurance contract and is not comparable to a mortgage protection policy.


Loan Protection Insurance differs from a mortgage protection policy in a number of ways, including:


      • The policy is issued in the name of and for the benefit of WCU not the member
      • No suitability analysis is undertaken on the member, as the member is not the person on the policy.
      • The cover lapses if WCU fail to pay premiums and this is outside the control of the member
      • Any successful claims are paid to WCU not the member or their dependants.
      • The cover is not guaranteed for the borrower for the term of the loan.
      • Maximum insurance levels apply, for example for over 70’s
      • The policy is a group life policy where a monthly renewable policy with a contract term of three years.


It is important that you understand that;


      • In the unfortunate event of the borrowing member’s death before the mortgage is cleared, WCU will apply the proceeds of a successful claim under the Loan Protection Insurance policy against the member’s outstanding loan.
      • If that deceased member also had valid mortgage protection policy in place, any benefit under it, is payment to that member’s estate, if the Loan Protection Insurance policy proceeds have cleared their WCU loan.
      • Should a WCU member decide to put a mortgage protection policy in place or currently has a mortgage protection policy in place, it will not affect (or dilute) the benefits of the Loan Protection Insurance plan
      • Should a WCU member wish to cancel any existing mortgage protection, we strongly advise the member that the Loan Protection Insurance policy is not in lieu of a mortgage protection policy, and also advise that you should not cancel the existing mortgage protection policy without first seeking independent financial advice.