Looking to update your tired kitchen? Need to freshen up your bathroom? Perhaps you want to create your own home office? With the help of one of our Homeowner Loans, you can spread the cost fairly and affordably.
The Credit Union is able to offer larger value loans at extremely competitive rates for homeowners – in fact, we can offer loans at 0.1% less than the rates formally offered by any High Street Bank.
When you own your own home, there are times when you need to spend significant amounts on maintenance and home improvements. We recognise that homeowners don’t necessarily have the cash available, so one of our Credit Union Homeowner Loans could provide the help you need.
To qualify for our price-beating offer, applicants must provide a formal offer letter from their bank for the equivalent sum, together with their most recent mortgage statement. Our minimum interest rate is 2.9% APR and our maximum rate is 9.9% APR, and interest rates will remain fixed throughout the term of the loan.
You can choose your own loan repayment terms within a maximum five year repayment period. And, as with all of our loans, you can, by arrangement, vary payments if your circumstances change, and repay early without penalty.
Credit Union Chief Executive Martin Groombridge said: “It’s that time of year again when many of us start thinking about the jobs that need doing around the home, but the cost of getting work done can be a real worry. If you need to do some home improvements, why not consider our fair and affordable Homeowner Loan? It could be just the solution you need.”
To benefit from one of our Homeowner Loans, applicants must qualify for Credit Union membership and open an account with a minimum share deposit of £50. Applicants must provide their most recent mortgage statement, or other proof of ownership if there is no mortgage, and must agree to save a minimum £40 per calendar month during the term of the loan and these savings remain non-withdrawable as part security on the loan.
Click here to find out more and to apply.