Credit union launches new rate for property renovation loans

St Anthony’s & Claddagh Credit Union have launched a new loan for members for property renovations with an APR of 6.7%.

CEO Gerry Joyce said: “The Irish property market is certainly showing signs of recovery and this in turn is giving people confidence to carry out home improvements that were maybe put off during the depths of the recession.

“We are delighted to be able to offer a property renovation loan product to members at a very competitive 6.7% rate. We would encourage members contemplating undertaking improvements in their home to contact us about finance.

“As the economy picks up and consumer spend confidence continues to improve, more of us will consider home improvements in 2016.

“The extension of the Government’s Home Renovation Incentive Scheme also provides some welcome tax relief for those planning expenditure on repair, renovation or improvement works this year.

“Our philosophy at St. Anthony’s & Claddagh Credit Union has always been to look at things differently. We understand the difference a property renovation 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 property renovation 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.

For example, a €25,000 property renovation loans over 10 years on a variable interest rate loan of 6.7% APR, the monthly repayments are €283.88, the total amount payable by the member will be €34,064.07.

For further information, freephone 1800 28 5626 or visit sacu.ie