Make things happen with loans from just 4.5% APR

Whether it’s money for a new car or kitchen, a loan to get on top of your existing debts, or help to deal with life’s little emergencies, we’re all about helping our members to access fair, affordable credit when they need it.

Learn more about borrowing


No hidden fees

Borrow with confidence. No ‘arrangement fees’, hidden costs or penalties for early repayment, just the agreed monthly payments including interest.

Competitive rates

As a not-for-profit credit union, our rates are lower than credit cards and high street lenders. Our lowest rates are reserved for those who save with us and repay via payroll deduction.

Fair applications process

Your application will be considered by a real person,  not a computer, taking your personal circumstances into account, including your ability to repay.

Responsible (and award-winning) lending

Our loans are designed to boost your financial well-being, and are accredited by the Fair Banking Foundation.

Loan calculator

  • Your monthly repayment would be

    Representative example: Booster loan for £5000 at 36% APR (representative) over (18 months).

    Total repayment: . Total loan cost: .

  • Optionally, we can send you an email reminder with a link to a pre-filled application form for you to complete at your convenience.

What’s available

General-purpose loans

Personal loan

Use our loan calculator to choose the amount and length of time you’d like to borrow, with low rate based on your individual circumstances. 

  • Borrow  up to £7,500
  • Pay over 184 months
  • From 6.9% APR

Advantage Loan

We serve those who serve. A special low rate for those working in the forces, local NHS Trusts, local authorities or one of 25+ local organisations we partner with.

  • Borrow up to £15,000
  • Pay over 12-60 months
  • 5.9% APR

Save to borrow

Our lowest rate for those who regularly save with us. Borrow up to the balance of your London Mutual savings account.

  • Borrow up to your savings balance
  • Pay over 160 months
  • 4.5% APR

Got something specific in mind?

I want to…

Get my finances into shape

Get your finances into shape by replacing expensive credit card and overdrafts  with one low-cost monthly payment. 

  • Borrow up to £3,000
  • Pay over 1‑60 months
  • 13.68% APR

Deal with an emergency

The flexibility to deal with life’s emergencies via our convenient and low-cost short-term loans.

  • Borrow  up to £400
  • Pay over 1-3 months
  • 42.6% APR (3% per month)

Build my credit

Less-than-ideal credit or out of work? Build your credit over time by paying straight  from your benefits or salary.

  • Borrow up to £3,500
  • Pay over 18 months
  • 42.6% APR

Move into a new place

Borrow your rental deposit, pay it back over your tenancy. When it’s time to move on, the money’s yours.

  • Borrow up to £2,000
  • Pay over  18 months
  • 42.6% APR

Note: LMCU loans are subject to our lending criteria and are assessed on your ability to repay the loan as well as the terms and conditions of membership of London Mutual Credit Union. All fees, pricing information and qualification information displayed on this page are for illustrative purposes only. Applying for a loan may affect your future ability to take out credit.

Full marks for fair banking

Our CUOK payday loans have been awarded 5/5 stars by the Fair Banking Foundation. The Fair Banking Mark is your independent guarantee that our loans are built on fairness and transparency, and have been designed with your financial well-being in mind. 

Good to know

Am I eligible to apply for a loan?

Current members can apply for a loan at any time. Assuming you are eligible, it is also possible to join and become a member of the credit union at the same time as applying for a loan.

It’s also worth bearing in mind that occasionally products and promotions will only be open to those who have been a member for a certain period of time, have a certain amount saved with us, or who are signed up for payroll deduction.

Is my application likely to be approved?

Your chances of approval will depend on the type of loan you have applied for and your circumstances.

All loan decisions are taken based on our loan policy and made by a person, not a computer, and so we will always try to take your individual situation into account. In cases where we can’t approve the full amount applied for, we may be able to offer you a lesser amount, or an alternative rate.

How do I know if my loan has been processed?

We know that it’s important to know what’s going on. After your application has gone in, you will receive an SMS informing you at each stage of the loan application process, so that you know exactly when you can expect to receive your money.

What happens if I'm struggling to repay?

If you are experiencing difficulties with repaying your loan, please talk to us as early on as possible. Together we will work together to find a solution.

To enable us to help you, it’s really important that you are upfront and honest about your circumstances, and stay in touch with us. Being open will give us the best possible chance of helping you to maintain a good credit score, which will enable us and other lenders to lend to you in future.

You can find out more about how we can help if you’re struggling with debt on this page.

Make things happen with a loan from London Mutual

Apply for a London Mutual loan today

Competitive rates, with no hidden fees

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