Loans of £5000 or more for people who own their own home outright or with a mortgage that is less than 80% of the home’s market value. Such homeowners also need to have a good credit history.
Interest on Homeowner loans will normally be charged at 0.7% per month (APR 8.7%). However, interest rates may vary dependent on individual homeowners’ circumstances and, if you have a better offer, ask us if we can better it!
If you are not already a member of St Albans Community Bank, you will be required to join before the loan is issued. Join Today
The Community Bank understands the pressures on disposable income in the current economic environment and undertakes stringent affordability checks before granting a loan Details here
We do not charge fees for arranging loans and loans can be repaid early at any time without penalty.