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Home improvements – avoid the loan sharks!

Home improvements – avoid the loan sharks!

With many of us still in lockdown, on furlough or limiting our trips out, now is the perfect time to make some home improvements – but if you need a little extra financial help to complete the job, avoid the loan sharks and turn to us instead.

If you’ve been stuck at home for the last month or two, you’ll have been looking for things to do, and if your house is in need of some work, now might be just the time to tackle it.

We realise money might be an issue of course, but rather than turning to loan sharks and high cost lenders, why not talk to the Credit Union? We offer loans for all sorts of things, including home improvements. Maybe you’ve got a leaky roof or there’s damp in your bathroom, or perhaps you just want to do up your kitchen or build some new decking in the garden.

With one of our low cost Saver Loans, for example, you can borrow the amount you need now, and start to save a little bit each month for a rainy day – or your next big project. That means you can reduce your need to rely on borrowing in future.

We offer loans of up to £20,000 above savings, starting from just 2.9% APR. To apply for a loan, you must first join the Credit Union as a member. Once you’ve joined, you can apply for a loan straight away, although we do give priority to those who have saved with us first. If you are a new member then once your loan is granted you will be required to deposit £50 into your saving account.

There are no hidden charges with our loans, no penalties if you arrange to pay off your loan early and interest is only paid on the reducing balance of the loan.

Martin Groombridge, Credit Union Chief Executive, said: “For many of us, being stuck at home has provided the perfect opportunity to do a bit of home improvement work. However, if money’s an issue, it’s easy to fall prey to loan sharks and high cost lenders.

“At the Credit Union, we recognise that there are times in our lives when we all need some extra cash, but we don’t encourage people to borrow more than they can afford. Talk to us about our fair and affordable loans – they could make all the difference when it comes to doing up your home.”

To find out more about our low cost loans click here and to join us as a member click here.



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