Home Owner Loans

Borrow up to £25,000 for any purpose when you own your own home.

All Loans are subject to our Lending Policy and Terms & Conditions

Big plans, small rates

Planning a new kitchen or extension? Ready to buy that dream car? Make your big plans happen sooner with our Home Owner Loan. If you own your home (with or without a mortgage), and are employed, you can borrow up to £25,000 at some of our our lowest rates. 

Personal Loans

Borrow Repay over APR
£15,000 – £25,000 1  7 Years 8.29%

Key Features

  • Get a loan for any purpose
  • No arrangement or early repayment fees
  • Get a decision and your loan paid in 7 – 10 working days
  • Decisions made by a person, not a computer
  • Build savings at the same time as you repay

Eligibility Criteria


18-74 years old


UK home owner (with or without a mortgage)


In employment or self-employed with evidence of income


A UK home address


Not be in an IVA or bankrupt

Will I be approved?

All our loans are subject to manual credit and affordability checks. Your application is more likely to be approved if:

  • You can comfortably afford the repayments alongside your existing financial committments
  • You have not engaged in risky behaviours (such as heavy gambling), which could call into question your ability to repay.

What you’ll need

  • A copy of your most recent payslip
  • Your National Insurance number
  • Your last two months bank statements, clearly showing your income
    Scanned copies, a screengrab or clear, high-quality photos can be accepted

Good to know

What can I get a loan for?

A personal loan can be used for almost any purpose, from home improvements, purchasing a new or used car, a holiday, or any other large upfront costs. In general, you should not borrow in order to pay household bills or other ongoing or day-to-day expenses.

How long will it take?
The online application process should take around 15 minutes or less. Once submitted, it take between 7-10 working days to process your application, though during quieter periods it can be substantially faster.

You can help to speed up your application by making sure you provide all the requested documents at the earliest opportunity, and by responding to any questions or requests from our team as soon as possible.

Do I need to join the credit union before I apply?
No. Assuming you meet the criteria for membership, you will become a member of London Mutual Credit Union at the same time as you apply for your first loan. We’ll ask for all the information we need, so there’s no need to complete two forms.
Will I get the rate displayed?
Our rates are based on the amount you are borrowing, rather than the person borrowing, so yes, in most cases, you will receive the rate displayed on the loan calculator.

In a small number of cases, we may not be able to offer you the full amount you have applied for, because you have had difficulties repaying loans in the past, or we don’t think the full amount will be affordable to repay. If this happens, we may offer a lower amount with a slightly higher interest rate.

In all cases, the amount we can offer you, the monthly repayment, and the amount of interest charged will be confirmed in your Loan Agreement, which we will send you to sign when we offer you a loan.

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Monthly repayment:
  • Borrowing:
  • Over:  Months
  • Representative:  APR
  • Total cost of this loan:
  • Total repayable:
Apply for this loan

All loans are subject to affordability checks and our Terms & Conditions. Loans are offered subject to status to members aged 18 or over. The rates displayed on this page are for illustrative purposes only, and the actual amount and interest payable will be indicated in the Loan Agreement provided when we offer you a loan.