Your credit union has set aside a sum of money to offer special ‘Borrow Local’ loans at a very special interest rate of 6.5% (6.7%APR). This is considerably less than our standard interest rate.
THIS SPECIAL PROMOTIONAL LOAN WILL END ON 30th JUNE. APPLICATIONS MUST BE RECEIVED BEFORE THIS DATE.
‘BORROW LOCAL’ LOAN – TERMS AND CONDITIONS
Applications are subject to affordability criteria checks.
3 months bank statements and full credit report may be required.
Promotional rate only available for NEW loans.
Maximum term 120 months (10 years).
Top-up loans are excluded.
Members with existing loans may apply for a separate loan at new rate.
This loan will be a separate loan to any existing loans held with BHCU. Repayments must be maintained on both loans at all times.
Any default on conditions may result in the loan reverting to standard rate 12%.
Promotional rate offer can be withdrawn at any time at discretion of the credit union.
Repayments must be made by standing order or recurring payment.
If the member seeks to increase/top up the loan, the promotional rate will end and the standard rates (12%) applied to the new loan amount for the remaining duration of the loan.
Members have no access to their shares, while their combined loan amount total is in excess of savings.
To avail of promotional rate, member must borrow between £4000 – £20000 (max £10000 above shares). Maximum cumulative loan total with BHCU must not exceed £20000.
This promotional loan is only available until the sum set aside has been allocated. When it’s gone….it’s gone !
You could use this special loan to do the things you’ve always wanted to do:
Change your car, or upgrade to an electric or hybrid model.
Roll all your credit card balances and other loans into one package.
Do the home renovations you’ve been thinking about for ages.
