Hands up if you’ve suddenly been gripped by FOMO fever.

As lockdown restrictions ease and the nation begins to slowly re-open, ‘fear of missing out’ has never felt so real. Garden parties. Outdoor pub drinks. A meal that’s not a takeaway. After months of getting dolled up for Asda, we’re now being inundated with reasons to dress up and go out. Even the sun’s out.

Good times are coming, and yet with all these events on the horizon – don’t you dare tell us going to the hairdressers isn’t an event – it can all still feel a little overwhelming. Fitting everything in for a start. How are we supposed to say ‘no’ to anything after spending what feels like half our life glued to the sofa. And then there’s cost. With a family trip to Newquay now costing around the same as a weekend to New York, this summer has the potential to be a real bank-breaker. But that’s where we come in.

Always compare loans before you make a decision 

We tend to borrow money because we want to buy something big – a new kitchen or, a car or an engagement ring. Sometimes though, it’s about paying for an experience. Like a summer going out with friends and family. You can’t put a price on those memories. And loans offer us that bit of breathing space. However, there’s one big mistake a lot of people make when borrowing…they never compare loans.

At Pennine Community Credit Union, we encourage people to compare loans from lenders. Why? Because 1, We want you to find the best deal for you. And 2, We’re confident that will be with us. Comparing PCCU loans with other sources of finance, such as credit cards, buy now pay later schemes and payday loans could save you hundreds of pounds. That’s a lot of barbecues.

A good tip for when you are actually looking to compare loans is to make sure you focus on the representative APR, not the interest rate. APR is the warts and all figure. It will take into account any fees, charges or extra costs associated with the loan, and can vary significantly compared to interest rates. The word ‘representative’ means 51% of successful applicants will be given the advertised rate. So if a loan is being advertised as 5% representative APR, a total of 51% accepted applicants have to get a rate of 5%. The other 49% could end up with anything, usually higher. While other lenders often advertise representative APR, the rate we quote you is the rate you pay, every time.

Why PCCU could be the right choice for you

The fact we’re a not-for-profit financial cooperative means we’re able to offer interest rates that are highly competitive. Additionally, PCCU’s quotations are free, with no set-up fees. This allows you to compare loans with other lenders, giving you plenty of time to work out what’s best for you and your finances. If you decide to apply for a PCCU loan, then we’ll make sure you have an answer within 24 working hours.

We wouldn’t want you missing out on anything now, would we?