Mortgages
Mortgage Journey Made Simple
From your first conversation with us to receiving the keys to your new home, our Mortgage Team will guide you through each stage.
A More Personal Route To Buying Your Home…
Buying a home is one of the biggest financial decisions you will make, and Phoenix Credit Union is here to make that journey feel more personal and more manageable. We support eligible Members who are buying for the first time, moving home or exploring whether switching their mortgage could make sense for them.
Our mortgage approach combines practical guidance with local understanding. You can speak with a team that values clarity, answers questions in plain English and supports you through each stage of the process. When you are ready to take the next step, Phoenix Credit Union offers a mortgage route built around trust, service and real community connection.
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Step 1
Talk To Our Mortgage Team
Discuss your plans, budget, deposit, potential borrowing options and relevant housing supports.
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Step 2
Submit Your Application
Complete the application and provide the supporting documents requested. The team will explain what is needed for your circumstances.
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Step 3
Mortgage Assessment
We review income, employment, savings, existing commitments, credit history, affordability and overall repayment capacity.
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Step 4
Approval in Principle
If successful, this provides an indication of the amount you may be able to borrow. It is subject to conditions and is not a formal loan offer.
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Step 5
Find Your Home
When you agree a purchase, provide the property details, appoint a solicitor and arrange an acceptable valuation.
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Step 6
Formal Mortgage Approval
Once assessment and property requirements are satisfied, Phoenix Credit Union will issue a Letter of Offer with an ESIS, terms, repayments and conditions. A 30-day cooling-off period applies.
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Step 7
Legal Process
Your solicitor and the Credit Union's legal representatives complete title, security and insurance requirements. Phoenix Credit Union requires a first legal charge over the property.
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Step 8
Drawdown
When all conditions and legal requirements are satisfied, the mortgage funds are released to complete the purchase.
Mortgage Ready
Getting Mortgage Ready
What Does Mortgage Ready Mean?
Having your finances organised, understanding your budget and preparing the information needed for a mortgage application.
Build Your Deposit
Save consistently, avoid unnecessary withdrawals and show good day-to-day money management.
Understand Your Budget
Consider your income, deposit, existing commitments, household costs and a repayment level that remains comfortable.
Check Your Credit History
A Central Credit Register check forms part of the mortgage assessment. Keep repayments up to date and explain any past credit issues clearly.
Mortgage Ready
Prepare Your Documents
Typically: photo ID, proof of address, payslips, Employment Detail Summary, bank and savings statements, and details of existing loans. Further documents may be required.
Explore Housing Supports
Eligible applicants may wish to explore the Help to Buy Scheme, Starter Home Purchase Scheme and other relevant Local Authority Housing schemes that may support their home purchase.
Why Phoenix Credit Union?
Personal support, clear guidance and responsible lending from a member-owned financial co-operative.
Need a Hand With This?
(01) 869 2500