How Does a Home Improvement Loan Work?

After spending a year in our homes, many of us have realised there are bits and bobs around our house that may need a little TLC. Whether it be a room that needs repainting, flooring that needs to be replaced, or a garden that has seen better days.

When it comes to doing up our home, it can get put on the back burner as we prioritise our money for more urgent things. However, having a nice home environment is important for our mental health and you must have a space that you feel comfortable and relaxed in.

We understand that many of our members have a hard time factoring in the budget for home improvements and think that it is something they must save towards, instead of it being something they can do straight away. That’s when we decided to offer our home improvement loans.

Our home improvement loan is available to members who own or hold a mortgage on their home, earn over £18,000 per annum, and/or have over £5,000 in shares or at least 5 years’ good credit record with us. The loan can be repaid up to a maximum of 60 months (5 years). The amounts available range from £5,000 to £15,000.

The home improvement loan was recently a massive benefit to our CEO Eileen Halligan, who used the loan to help her sister-in-law, Kathy. After sadly being diagnosed with a terminal illness, Eileen and her brother decided to take out a home improvement loan to give Kathy a beautiful garden that she has always dreamed of.

They wanted Kathy to have a relaxing space in her home, that helps to connect her to nature and make her feel at peace when times are tough. The home improvement loan helped to landscape the garden and transform it from an unused space into a beautiful area.

Here are some photos of the garden to show the amazing work that has happened…


Whatever reason you have for wanting to update your home, let Central Liverpool Credit Union help you.  Contact us about our home improvement loans here.