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Home Owner Loan

Why Would I Want A Home  Owner Loan?

If you want to undertake expensive renovations in your home perhaps to cater for a growing family then a home owner loan can help fund this work. Improving your flat or house can also make the property more attractive to potential buyers as well as increasing its value. The overriding concern when planning any permanent alterations needs to be your own family's requirements.

Whatever you are planning, our low rate loans could turn your home improvement ideas into reality.

Whether it''s a loft conversion, installing a new bathroom or kitchen or adding a conservatory, your Credit Union has Home Improvement Loans from 5,000 to 25,000 to suit you.

How Much Can I Borrow?

Home improvement Loans can be granted up to 15,000 plus the value of your savings in the credit union.

That means that, if you have 5,000 in savings with the credit union and you have no other loan outstanding then you can borrow up to 20,000. The minimum Home Owner Loan is 5,000 and the Maximum is 25,000. Terms and conditions apply.

How Much Will It Cost?

6.17% APR available on loans with a minimum value of 5,000

No set-up fees

Overpay as much as you want each week or month.

No penalty charges for paying off the loan early

Opportunities to save while you are repaying the loan.

Easy budgeting with fixed loan repayments.

You can have a Home Owner Loan alongside other credit union loans as long as you can afford the repayments.

We will do a credit check and a Land Registry search to establish that you own your home. The cost of the search will be charged to your account whether or not the loan is successful.

You cannot withdraw your savings for the life of the Home Owner Loan.

An unsecured loan must be repaid over a maximum 5 year period. A secured loan must be repaid over a maximum 10 year period.

Projects With the Highest Resale Value

Certain projects add more resale value than others. Here are some that generally have the best financial impact.

Kitchens. People like to see modern conveniences and styles in the kitchen. Especially in older homes, kitchen improvements tend to add value.

Bathrooms. Second to kitchen remodels are bathroom remodels. Again, modernising older styles or appliances usually results in a good return.

Outdoor improvements. First impressions are important so sprucing up the appearance of the outside area of your home is a smart investment

Roofs and windows. Roofs and windows are expensive to replace, and buyers expect these to be in good condition. Unfortunately, that means that while replacing them won''t dramatically increase resale value, not replacing them could significantly decrease it.

Insulation may be one of the most cost effective things you can do both in terms of living in the house yourself and of selling it on. From June 1st 2007 all homes being sold have to have an energy efficiency rating. Estate agents believe that buyers will become increasingly influenced by the energy rating of a house, so insulating your loft could really increase the likelihood of getting the asking price for your home.

Check you are eligible for our lowest rate:-

You can prove you can afford the loan repayments

You have a UK bank account

You have a debit and/or credit card

You have a good credit history

You must have a mortgage or own your own home in the Credit Union area

You do not have other charges, besides your mortgage, on the property

You must earn over 16k per year and/or have at least five continuous years of good credit with the credit union.

Find Us here:
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Central Liverpool Credit Union Tel: 0151 708 5515 Email: Web:
Central Liverpool Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. FSA FRN: 213251