We are living in very strange times, concerned for the health of our neighbours and community, whilst many are finding themselves with a lot of spare of time at home through no fault of their own. For those fortunate enough not to have been ill, it has been a real opportunity to work on the homes they live in. As a credit union we have seen an increase in account holders applying for stay at home loan to complete home improvements.
It is usually when spring has sprung that we start to see a trickle of DIY stories, from tidying up the garden over the bank holiday weekend in April to undertaking major construction work. However with the lockdown there does not seem to have been many homes that have not seen a lick of paint or a larger scale project in the garden. If you are still at home for the feasible future then one of the stay at home loans from PCCU could be an option of funding a project and spreading the affordable payments over a longer period.
Inside your home a small stay at home loan could be used to up-cycle a piece of furniture, decorating a baby’s room or freshen-up a kitchen with new kitchen cupboards. Whilst outside the stay at home loan can be used for anything from fitting new seating areas or sanding and painting the fences in your garden all the way up to a bigger building projects. The point is that once the loan has been approved you can spend the money however you wish.
The other major advantage of our stay at home loans are the terms on which we offer them. To start with, we do everything in a transparent and up-front manner. The interest rates which you see mentioned on our website are the only interest rate we charge. Unlike some lenders, we don’t offer our best rate to a percentage of borrowers and a higher rate to all the others. Similarly, none of our account holders is ever hit with secret charges, fees or other small print.
Perhaps even more important is the fact that we are ethical lenders, working on a not for profit basis. When we set our interest rates we don’t have to think about paying a big bonus to the directors or funding a payout to our shareholders. If you take out one of our stay at home loans we’ll only lend you what you can honestly afford to pay back, and we’ll put a percentage of each payment into your savings so they carry on growing as you clear your loan.
We’ve made the process of applying for our stay at home loans as quick and simple as possible. Once you’ve given us all the information we need, we’ll reach a decision within two working days and, if it’s at all possible, by the next day. As soon as the loan has been approved, it will be paid into your bank account, leaving you free to spend it when and where you want.