1st class credit union loans

BLUEBIE
BLUEBIE Posts: 251 Forumite
Hi

Has anyone applied for a loan with 1st class credit? What do they ask and are you likely to be rejected.

Looking for a £1000 loan and have been saving with them for a while with about £700 in savings. Money get paid straight out of wages for savings to would assume the loan repayments would too?

Thanks

Comments

  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I don't think so.
    I might be wrong but you would need a standing order/direct debit to make repayments to a loan.

    Do you need the whole £1000 as a loan though as you already have £700 in savings with them?
  • geoffky
    geoffky Posts: 6,835 Forumite
    well done...credit unions are a great way to save and borrow...if only there were more of them about and lots more used them
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
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