If you are considering borrowing some money why not have a look at what to look out for when taking out a loan
As a Willow Park resident you can access loans from Money Line, Greater Manchester or the Manchester Credit Union. The loans that both the Manchester Credit Union and the Money Line provide are both affordable with flexible payments to suit your budget.
Both provide loans that are cheaper than typical door collected loans (door step providers) and give you more flexible repayment plans. The Manchester Credit Union will consider providing loans to people who have been refused loans from a bank or building society. All applications are made on an individual basis and applications are welcomed from all members of the community.
Manchester Credit Union
- Provide ‘flexi loans’ to both members and non members.
- Flexible repayment plan based on how much you can afford to repay weekly, fortnightly or monthly.
- Competitive APR%.
- You don’t need a bank account with the Credit union.
How to Apply;
- Visit the Manchester Credit Union shop in the Civic Centre – don’t forget to bring your ID.
- Complete a simple application form and wait about a week* for a decision.
*decisions can take a bit longer or shorter depending upon the application
For more information ring 0161 231 5222 or visit their website.
Loan comparison table
|Lender||Loan||# weeks repayments||Weekly repayment||Total repayment||Total loan cost|
|Manchester Credit Union||£300||33||£10||£323.66||£23.66|
|Money Line Greater Manchester||£300||51||£6.46||£335.49||£35.49|
|Typical doorstep lender||£300*||52||£10.50||£546||£246|
* Loan based on a typical loan over a period of 52 weeks. Prices correct at print (February 2010)