Homeowner Loans

Loans of £5000 or more for people who own their own home outright or with a mortgage that is less than 80% of the home’s market value. Such homeowners also need to have a good credit history.

Interest on Homeowner loans will normally be charged at 0.48% per month (APR 5.9%). However, interest rates may vary dependent on individual homeowners’ circumstances and, if you have a better offer, ask us if we can better it!

If you are not already a member of St Albans District Credit Union, you will be required to join before the loan is issued. Join Today

In order to process your application we will supply your personal information to credit reference agencies (CRAs) and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity.

We will also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants or other financial associates. The identities of the CRAs, and the ways in which they use and share personal information, are explained in more detail at Call Credit: www.callcredit.co.uk/crain or Equifax: www.equifax.co.uk/crain or Experian: www.experian.co.uk/crain or here

Listen here to our radio advertising about Homeowners Loans

We do not charge fees for arranging loans and loans can be repaid early at any time without penalty.

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"We wanted a new kitchen and, because we were homeowners, we were able to borrow the money from the credit union with really affordable repayments"

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