Homeowner Loan

• Borrow between £10,000 – £25,000, subject to affordability
• Competitive interest rate of 6.4 %fixed APR
• Save as you borrow, so you’ll have a lump sum when you’ve repaid your loan
• Easy to apply, with options for everyone
• Apply to Top Up when repaid 50% of your Homeowner Loan.

Please Note: If applying to Top Up, please apply for the amount you are topping up by, when completing the application. If approved, this amount will be the extra amount you receive.

• No application fees or hidden charges
• No penalties for early repayments, so repay early & you’ll save interest
• Affordable loan repayments through payroll deduction, or alternatively by direct debit
• After repaying 50% of their first Homeowner Loan, members can apply to top up the loan.
• Convenient weekly, 2-weekly, 4-weekly or monthly repayment, tailored to suit your budget
• Save as you borrow, so you’ll have a lump sum when you’ve repaid your loan
• Savings continue to attract dividend payments* whilst repaying your loan

*Dividends are not guaranteed. The rate payable is dependent on financial performance and voted on by members at the Annual General Meeting.

• You must save a minimum of £2/week or £10/month as you borrow, so you’ll have a lump sum saved when you’ve repaid your loan. This minimum saving amount will be held in your ‘Membership Account’ and cannot be withdrawn until your loan is cleared.
• After repaying 50% of their first Homeowner Loan, members can apply to top up the loan
• Members may only hold 1 Penny Post loan at any time
• The Homeowner Loan is only available to members who have been homeowners for at least 6 months (either currently have a mortgage or have completed their mortgage period and payments).
• The Homeowner Loan is not available to members who are bankrupt or have an Individual Voluntary Arrangement (IVA) that shows on their credit report.
• Other terms and conditions may apply.