Green Home Improvement Loans
IMAGINE A GREENER, CLEANER HOME
Have you got a house that rattles and shakes in the breeze? That’s cold and is also a terrible squeeze? Why not come to the credit union for a renovation loan and get new windows, insulation and extend your home.
We all know that making our homes more energy efficient is not only good for the environment at large, but also great for saving a bit of money on utility bills. If you’re looking to upgrade your home and want to reduce your carbon footprint in the process, why not contact your credit union about a flexible green home improvement loan or submit an online loan enquiry today. Because for all of your dreams that are big, small or strange, we’ve got you covered with our monster loan range.
The Credit Union – Imagine More
Frequently asked questions:
Who should apply for a green home improvement loan?
A green home improvement loan is for anyone who is planning on making any improvements in their home to increase its energy efficiency. It can be for big retrofit project which may include solar panels and insulation but also for smaller works too - like fitting new windows or doors or getting a new boiler installed. Anything that will increase your home’s energy efficiency and decrease your heating bills.
Why not check out our House2GreenerHome Blog series where you can get some great tips on green home improvements, renovations and green grants - click here for more.
Why? Imagine a Different Kind of Lender
Imagine – A straight-forward loan, with no sneaky conditions.
Credit unions offer flexible green home improvement loans of all sizes. You can pay off your loan early or increase your repayments, all without any scary penalties.
Imagine – A loan from a lender at the heart of your community.
Credit unions are not-for-profit and owned by our members, the people who save with us and borrow from us. All decisions are taken at local level, in the best interest of all our members.
Imagine – A loan with built in insurance, at no cost to you.
This is designed to pay off a loan in the event of a borrower’s death – subject to terms, conditions and eligibility criteria.
The benefits of a green home improvement loan vs a regular home improvement loan is the financial viability. There are grants available which can cover a significant amount of your improvement costs and this - coupled with money saved on heating bills - means you could cover the cost of your loan over a number of years. This article examines the average amount you might save.
What is the Interest Rate for a Credit Union Green Home Improvement loan?
For a home improvement loan, the average rate charged by credit unions in the Republic of Ireland is 9.21% APR. Click here to view information on average credit union loan rates. Credit unions may also offer discounted rates for energy efficient home improvements.
And not only that, many credit unions offer a loan interest rebate at the end of the year, making credit union loans even more appealing. Please check with your local credit union for further details.
For a €/£20,000, five year variable interest rate loan with 60 monthly repayments of €/£417.21 a representative APR of 9.21%, the total amount payable by the member is €/£25,032.48.
The maximum interest rate which a credit union can charge is 12% (12.68% APR)*. In practice, most credit unions have green home improvement loan interest rates which are significantly lower than that and many offer promotional or discounted rates at certain times of the year.
How do I apply for a Green Home Improvement Loan?
All credit unions are different, but many will allow you to apply online or over the phone with many offering quick approval times. Click here for all your frequently asked questions about applying for a credit union loan.
If you are already a member of a credit union, simply contact your credit union today or to submit a home improvement loan enquiry to your local or workplace credit union, please click on the Loan Enquiry link below.
Not a Member? Not a Problem!
If you’re not already a credit union member, why not join your local or workplace credit union today? You'll find more details on what you need to join by clicking here.
Or if you can’t remember the last time you used your local credit union, that's also no problem. Credit unions just love to see old friends returning. Just contact your local credit union to find out how to reactivate your account.
Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future. Credit unions in the Republic of Ireland are regulated by the Central Bank of Ireland. Credit unions in Northern Ireland are authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.