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, large or unexpected bills can sometimes arise which you just do not have the cash for, but 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.
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.
Martin Groombridge, Credit Union Chief Executive, said: “We all know that owning your own home is not always straightforward. On paper, we are often worth a lot because of the value of our property but, in reality, we can struggle to find the cash for major items such as roof repairs, a new bathroom or a replacement kitchen. That’s where one of our bank-beating Homeowner Loans could really help.”
Click here to find out more about our Homeowner Loans and to apply.
