If you own your own home and you need some extra cash, you could benefit from one of our highly competitive Homeowner Loans. In fact, we can offer loans at 0.1% less than the rates formally offered by any High Street Bank.
Owning your own home means you never quite know when the next bill is going to land on the mat. Maybe your roof is leaking, or you desperately need a new kitchen; perhaps you need to sort that damp patch in the bathroom, or you’re dreaming of building an extension to accommodate a growing family. Whatever the reason, bills sometimes arise which you just don’t have the cash for.
One of our Credit Union Homeowner Loans could provide the answer. We offer higher value loans of between £7,500 and £25,000 to homeowners at 0.1% less than formally offered by any High Street bank.
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 (or other proof of ownership if there is no mortgage). Our minimum interest rate is 2.9% APR and our maximum rate is 9.9% APR, and interest rates 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.
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 then 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 until the loan is repaid.
Martin Groombridge, Credit Union Chief Executive, said: “Our bank beating Homeowner Loan provides a lifeline for many home owners, who need to borrow some extra cash. At the Credit Union, we would never encourage people to borrow more than they need, but sometimes bills arrive which we just don’t have the money for. Talk to us about how we can help!”
Click here to find out more about our Homeowner Loans and to apply.