Support for household finances
We have been partnering with London Plus Credit Union, who are fully regulated, responsible lenders, to offer a helping hand to families by supporting them with small, short-term loans
With soaring energy prices and inflation placing an enormous strain on household finances, it has never been more important to set aside a little bit if you can and for us to support you in doing so.
Here are some of the London Plus Credit Union loans available to residents.
Family loan
This might be used to cover an unexpected cost such as household item breaking down, children’s clothing or managing the cost of Christmas.
If you are eligible, you can borrow up to £500 over a 40-week term payable by using your child benefit as a direct form of repayment. An automatic £1 per week will be set aside to a savings account and, if you repay the loan within the set agreement, we will top up your savings by an additional £80.
The family loan includes:
- No credit checks
- £500 over 40 weeks at £14.35pw with an additional £1pw savings
- Total cost of credit £573.76 (£500 + £73.76 interest)
- Repayments by child benefit only
- We will pay an additional lump sum of £80
Save as you borrow loan
The new save as you borrow loan has been approved to help tenants with their priority needs and savings, to help build a little buffer for the future.
You can borrow up to £500 over a 52-week term with an automatic £2 per week set aside to a savings account. If you repay the loan set within the loan agreement terms and conditions, we will top up your savings by an additional £80.
- No credit checks
- £500 over 52 weeks at £11.16pw with an additional £2pw savings
- Total cost of credit £579.98 (£500 + £79.98 interest)
- We will pay an additional lump sum of £80
For more information about the London Plus Credit Union, please visit their website. Please note that terms and conditions do apply for any loans.
