Whether you’re upgrading your car, transforming your home, or planning a getaway, our Personal Loan offers value and convenience, with repayments that fit your budget. Competitive rates and no hidden costs mean you can borrow with confidence. You can join and apply in one step.
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.
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.
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.
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.
