- It’s easier than ever to apply for a loan. We’ve simplified our loan products. Now, you just need to tell us if you’re working or not and we’ll point you in the right direction.
- When you’re applying for a loan, please remember:
- If you have an existing loan and want to apply for a further advance you must have paid off 30% of the original balance and had the loan for at least six months.
- When stating how much you want to borrow, include any outstanding balance.
- If you’re not working, the maximum loan is £500. However if you’ve already had a loan for a minimum of 12 months and never missed a payment you can apply for up to £1,500.
- It is always quicker to use open banking. This helps us assess the affordability of the loan
The cost of living is rising and there are tough times ahead. Because of this, we’ve launched a new FREE money tips service. BDCU will provide regular tips on a range of subjects from budgeting to credit scoring and much more.
Finance can be complicated, why not read our first tips and sign up for more.