Whether you’re looking for THE ‘We can’t stack the boxes any higher’ LOAN, or THE ‘we need to convert the garage’ HOME IMPROVEMENT LOAN, come and talk to The Lough Credit Union.
WE’RE NOT HERE FOR PROFIT.
WE’RE HERE FOR PEOPLE.
Our philosophy has always been to look at things differently. We understand the difference a home improvement loan can make to your life, increasing comfort and adding space, so we always look at your whole story to make sure you feel at home with the loan process. We only propose home improvement loans with realistic terms, which you can pay back in a way that works best for you.
We don’t charge administration fees or transaction charges and you can pay back your home improvement loan early without penalty, if that becomes an option. Remember, in your local credit union, you are not a customer, you are a valued member.
So if you’re thinking about turning your house into a home again, call in to The Lough Credit Union today.
DOING IT YOUR WAY:
No matter what your home improvement loan is for – from a total revamp, to just a little redecorating, The Lough Credit Union will ensure everything is clear, transparent and straightforward. So you can get on with creative and wonderful improvement ideas for your home, your way.
- There are no hidden fees or transaction charges.
- Credit union interest rates are fair and reasonable and are capped by law.
- Repayments are calculated on your reducing balance, so you pay less interest with each repayment.
- In the event of your death, your credit union loan is insured – subject to terms, conditions and eligibility criteria – at no direct cost to you.
- You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, without a penalty. Other lenders may charge you extra for paying them back faster!
Home Renovation Incentive – now extended to December 2018
The Home Renovation Incentive (HRI) scheme enables homeowners or landlords to claim tax relief on repairs, renovations or improvement work that is carried out on their main home or rental property by tax-compliant contractors and that is subject to 13.5% VAT.
The HRI is paid in the form of a tax credit at 13.5% of qualifying expenditure, which can be set against your income tax over 2 years. This effectively reduces the rate of VAT to zero on qualifying work, up to a value of €30,000.
In order to qualify for the HRI, the work must be done between 25 October 2013 and 31 December 2018 for homeowners and between 15 October 2014 and 31 December 2018 for landlords.
For more information on the Home Renovation Incentive (HRI) scheme, visit: revenue.ie
HOW MUCH DOES A HOME IMPROVEMENT LOAN MY WAY COST?
* For a €5,000 three year variable rate loan with an interest rate of 9%, an annual percentage rate of 9.9%, the monthly repayment will be €161.10 and the total amount repayable will be €5,799.60.