We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Credit Union home improvement loan 1.3% (pa)
Hi
I'm not sure if this has been posted before as i'm not normally on this thread, I have just signed up for a Credit Union loan which only charges 1.3% (pa).
This is only for home improvements and you can only borrow upto 2500.00 (5000.00 if you are a couple). You must live in the area of the Credit Union and be a home owner, you have upto 3 years to pay it back.
This is a fantastic loan as it is cheaper to get this than use my savings. There are local Credit Unions all over the Uk. I'm not sure if this is a local offer or if all credit unions have the same deals. You should check with your local council if you have one in your area. There seems to be no catch and i think that they assess you on your ability to pay and not your credit rating.
They also offer cheap any purpose loans for anyone, but for these you have to save with them for a period of time and then you can borrow 2 1/2 the amount you have saved. This does not apply to the home improvement loan.
I hope this makes sense and yes it is 1.3% (pa) This is not above base rate!
Hope this helps someone.
Suzanna
I'm not sure if this has been posted before as i'm not normally on this thread, I have just signed up for a Credit Union loan which only charges 1.3% (pa).
This is only for home improvements and you can only borrow upto 2500.00 (5000.00 if you are a couple). You must live in the area of the Credit Union and be a home owner, you have upto 3 years to pay it back.
This is a fantastic loan as it is cheaper to get this than use my savings. There are local Credit Unions all over the Uk. I'm not sure if this is a local offer or if all credit unions have the same deals. You should check with your local council if you have one in your area. There seems to be no catch and i think that they assess you on your ability to pay and not your credit rating.
They also offer cheap any purpose loans for anyone, but for these you have to save with them for a period of time and then you can borrow 2 1/2 the amount you have saved. This does not apply to the home improvement loan.
I hope this makes sense and yes it is 1.3% (pa) This is not above base rate!
Hope this helps someone.
Suzanna
0
Comments
-
you sure its 1.3% PA and not per month, I am a member of credit uniion, and Its nowhere near that cheap0
-
yes i am sure it is that rate (pa). This is only for the home improvement loan, you can only spend the money on home improvements.
They do other loans but they are at a higher rate but still cheaper than than other loans. maby you should give them a call and ask if they do this type.0 -
This sounds too good to be true................................I have put my clock back....... Kcolc ym0
-
Which credit union have you joined?5p savings box: £01.60
£2 savings box: £12.00
1 & 2p savings box: too many too count!
0 -
Yes. Which Credit Union have you joined?...............................I have put my clock back....... Kcolc ym0
-
Reply still eagerly awaited................................I have put my clock back....... Kcolc ym0
-
Reply still awaited................................I have put my clock back....... Kcolc ym0
-
hehe you are persistent aren't you Robert
Come on suzanna tell us, pretty please 0 -
Still waiting ... patiently................................I have put my clock back....... Kcolc ym0
-
Still awaiting reply................................I have put my clock back....... Kcolc ym0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards