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Loans Frequently Asked Questions

Frequently Asked Questions

This collection of frequently asked questions (FAQs) provides brief answers to many common questions about London Plus Credit Union loans.

If your question is not answered then please contact us.

How much can I borrow?

London Plus offer basic loans from as little as £50 up to £15,000 depending on individual circumstances. This means we look at your income and outgoings to see how much disposable income you have (what is left over after you have paid for your essential living expenses). This tells us how much you could afford to pay back every week, fortnight, or month. If you have requested more than you can afford to pay back we may offer you a lower amount.

Please see the loan calculator for our current interest rates (what it will cost for you to borrow the money).

What repayment options are available?

There are three main ways to make loan repayments. These are by standing order from your current account, having benefits paid into your account or via payroll membership where the loan repayment is deducted directly from your wages/salary.

I have a poor credit history, can I still get a loan?

We consider all loan applications carefully. If you can provide evidence that you are trying to repay and resolve your previous debts we will consider giving you a loan. In addition we may be able to help you consolidate some or all of your existing debt into one affordable repayment. We assess each applicant individually analysing income and expenditure so our loan decisions are based on your ability to repay the amount you borrow. If we feel you would be worse off by borrowing we will refer you to an agency that can help.

Why do I have to provide so much information?

As we do not use a point scoring system we need to get to know you as an individual and to fully understand your financial position. The information you provide gives us an overall picture of the amount you can afford to repay on a loan amount requested and will inform part of our decision on whether to grant the loan. All the information you provide is confidential and only used to assess your loan application. We do not lend money to people who would not be able to afford to pay the loan back as it would not be in their best interest and make matters worse.

How do I complete my loan application form?

You must fill in the front and back of the loan application form and provide with it:

  • last 3 months bank statements
  • 3 months of wage slips (if working) or recent benefit letter
  • Recent statements for all existing debts e.g. catalogue/credit card/loans)

Providing all of this will result in a quicker turnaround of your application.

How we use your data

Please download and view this guide on how we use your information

Click to Download Download Personal Data Guide (78.5kb)

Contact Us
  • London Plus Credit Union
  • Tel: 0207 471 2620
  • Email:
  • Web: www.londonpluscu.co.uk
  • Address: 274 North End Road, Fulham, London, SW6 1NJ
Opening Hours:
  • mon
  • tue
  • wed
  • thu
  • fri
  • sat
  • 10:00am - 4:00pm
  • Phone & Email (9am - 5pm)
  • 10:00am - 4:00pm
  • Phone & Email (9am - 5pm)
  • 10:00am - 4:00pm
  • 9:30am - 12:30pm
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London Plus Credit Union is authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. FCA & PRA FRN: 473340