Make things happen with our fair and affordable loans

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

Our range of award winning loan products come with with low interest rates that are suitable for everyone. As an ethical and fair organisation, we believe that borrowing money should be a carefully thought through process, and the way we lend is built around your ability to repay.

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. 

The London Mutual difference

No hidden fees

Borrow with confidence. No ‘arrangement fees’, hidden costs or penalties for early repayment, just the agreed monthly payments including interest, making it easy to plan your finances.

Competitive rates

As a not-for-profit credit union, our interest rates are designed to reflect the true cost of providing your loan, and to be fair as well as competitive.

Fair applications process

Your application will be considered by a real person,  not a computer. We’ll consider your individual circumstances, such as your ability to repay and any existing financial commitments.

Responsible (and award-winning) lending

Our products have been accredited by the Fair Banking Foundation, which recognises that they are designed to boost your financial well-being—not just our bottom line.

Our loans

Our best rates

Saver Loan

Borrow at a low rate against money held in your Membership Account with us. 

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

Home Owner Loan

For home improvements, your dream car or anything else, borrow larger amounts at our lowest rate.

  • Borrow up to £25,000
  • Pay over 12-84 months
  • 4.9% APR

Platinum Plus Loan

Low rates rates for members who own their home, are a member of the armed forces, or pay via payroll.

  • Borrow up to £15,000
  • Pay over 1260 months
  • 5.9% APR

Gold Loan

Low-cost loan for members with excellent credit records and a take home salary of at least £1,500 per month.

  • Borrow  up to £7,499
  • Pay over 6-60 months
  • 6.9% APR

Premier Loan

The smart alternative to credit cards and arranged overdrafts. Available to all members in work and with good credit.

  • Borrow up to £7,500
  • Pay over 1-60 months
  • 13.68% APR

Fairness in lending, whatever your circumstances

Silver Loan

Missed one or two credit card payments in the past? Our Silver loan provides a good alternative to high-cost forms of credit.

  • Borrow up to £3,000
  • Pay over 1‑36 months
  • 19.5% APR

CUOK! Payday loan

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)

Growth Loan

Less-than-ideal credit? We’ll support you to rebuild your credit score over time.

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

Booster Loan

A helping hand while unemployed. Borrow and have your benefits paid directly into your credit union account.

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

Debt Consolidation

Get on top of your finances by combining expensive credit cards and overdrafts into a single low-cost monthly payment.

Amount available and rate offered will depend on your circumstances. You will be asked to provide details when applying.

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.

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