Home Improvement Loan

Home Improvement Loan

Borrow up to £20,000 with all the added benefits of your Membership

A loan for members with an excellent credit history looking to borrow larger loan amounts.

Rather than limit our members with loan products typically less than £2,500, we initialised our Home Improvement Loan to allow for more choice when deciding to borrow large loans. This has since proven to be a very popular product when compared with high street lending.

  • Great competitive rate of 9.9% APR on all Home Improvement Loan amounts
  • Free loan protection insurance (terms and conditions apply)
  • Interest is charged on your outstanding loan amount so will reduce with your decreasing balance
  • Continue to build your savings and earn a dividend whilst you repay your loan
  • No set up charges, early settlement charges or hidden fees
I'd like to borrow £250
Over a period of 3 months
Representative APR 30%
Monthly Repayment £256.25*
Total Repayment £256.25

*Representative example.

Borrowing £250 over 1 months will cost £256.25/month. Total amount repayable is £256.25 which includes interest at 30%.

The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.

This loan is available to ALL MEMBERS* with a membership account and an excellent credit history. It is important to note that you will lose access to your membership savings whilst you repay the loan but savings can be withdrawn once the loan is cleared. *(terms and conditions apply)

1) As with all our loans, interest is charged on a reducing balance which means you pay less interest every time you make a repayment. This soon adds up to a big saving over the term of your loan.
2) The Home Improvement Loan can be used for any purpose - despite its name - and is available from between £2,500 and up to £20,000.
3) Borrowing from Voyager Alliance Credit Union will also help to improve your ability to save. With every loan repayment you make you will also continue to save funds in your Membership Account, which is then available to take out once your loan is cleared.
4) Unlike most high street lenders we have NO set up charges, NO early settlement fees and NO hidden cost. What is more is that you will automatically qualify for FREE loan protection insurance that is provided at NO direct cost to you (terms and conditions apply).

Your Credit Union loan is protected in the event of your death1 – helping protect your family from the financial burden of bereavement.

When you take out a loan with us you also get Loan Protection. If you were to die before your Credit Union loan is repaid, this protection can help towards settling the debt, so that it isn’t passed on to your loved ones.

Of course, it won’t take away the pain but it’ll certainly help with the financial strain of bereavement. This benefit is included at no extra cost to you as part of your Credit Union loan arrangement2 so just for once, peace of mind doesn’t cost the earth; it’s just another benefit of being a Credit Union member.

As a Credit Union member, you’re not only borrowing for the things you desire to make life more comfortable for you and your family; by choosing your Credit Union to borrow from, you’re helping your Credit Union provide better value loans for all Credit Union members. With the added peace of mind provided by Loan Protection, loans from your Credit Union can offer better financial security for you and your family.

1Subject to terms and conditions. Cover limits vary and certain restrictions apply based on age and cover.

2Please ask at your Credit Union for more details about the individual limits and restrictions of Loan Protection or click here to view online.

* Member criteria: The Home Improvement Loan is available to all members including new members (within 12 months of joining). Members must have made at least 1 regular payment through either payroll deduction or direct debit before any loan can be considered. 

We ask all members to make NO more than 1 application for a loan within 6 months of each request.

** Free Loan Protection Insurance: As a Member of Voyager Alliance Credit Union you will be automatically covered by our Life Insurance Policy at no direct cost to you. In the event of your death, any outstanding loan balance you may have with Voyager Alliance Credit Union is cleared and not left to your Next of Kin. This is offered to all members up to the age of 69.

Life Insurance on loan balances does not cover members over the age of 69.

For full terms and conditions or more information about the policy, please click here.

Or for a summary please click here.

Data protection statement

In accordance with the principles of the Data Protection Act 1998, we will use your personal details for the purposes of managing your accounts with Voyager Alliance Credit Union.

Under the Distance Marketing Directive, you have the right to cancel your savings account within 14 days of opening without incurring financial or other penalty.

Voyager Alliance Credit Union use Experian as our credit reference agency, and the ways in which they use and share personal information is explained in more detail via the Credit Reference Agency Information Notice (CRAIN) document which can be accessed via any of the following link:


How To Apply

If you're already a member of the credit union click here to apply for a loan.

If you're not a member, you will need to apply to become a member first, which you can do so by clicking here
Once you've done this we will create your Membership Savings account and you will be eligible to apply for any of our other savings products.
Once you have paid into your savings account for a minimum of 1 month for payroll deductions or 3 months by Direct Debit, you will then be eligible to apply for our loans products.

Our other Loans

Find out how much we could save you.

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Savings Secured Loan
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