Joint mortgages
Interested in a shared mortgage? Find out more about joint mortgages. Criteria apply, over 18s.
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Joint Loans
Take on life together with a joint personal loan
Representative 3.4% APR
This rate is available on loans between £7,500 and £19,950. Other loan amounts are available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.
About joint loans
Whether you’re working on a big dream or a little emergency, a joint personal loan is a great option if you’re looking to borrow money with a partner, family member or friend.
If approved, you could use a joint loan to:
To apply for a joint loan applicants must be 18+, a resident and either: both hold a sole Ednites Credit Union current account (held for 3+months) or share a joint Ednites Credit Union current account (held for 3+ months).
Linking your finances
Taking on any new debt is a big decision, especially when you’re doing it as a team.
If you’re approved, your credit files will be linked and future lenders may take both your scores into account before approving you for any other borrowing.
It’s also key to know that if the person you’re taking a loan with defaults on a payment or the entire loan amount, you will be responsible for the full payment amount.
Borrowing terms
This is the length of time over which your personal loan agreement is in place. Our minimum and maximum terms for certain loan amounts are shown below.
Can I pay off my loan early?
It’s important to remember that if you repay your loan early, you will be charged an Early Repayment Fee. The amount you will be charged will be equal to 58 days’ interest on the amount you repay early (28 days’ interest if the period of the Loan is one year or less). If there is less than 58 days (or 28 days if applicable) remaining on the loan, the calculation will be based on the actual number of days remaining. This is in addition to your outstanding loan amount and any outstanding interest.
Loan calculator
Representative Example
Borrowing
£7,500
Over
0 months
Monthly repayment
£137.55
Total repayment
£8,253.00
Representative
3.9
% APR
(Annual Percentage Rate)
Interest rate
3.9
% p.a.
(Fixed)
The rate you pay depends on your circumstances and loan amount and may differ from the Representative APR. We will never offer you a rate exceeding 29.9% p.a. (fixed), regardless of loan size. This means you're not guaranteed to get the rate you see in the calculator.
The rate you pay depends on your circumstances and loan amount and may differ from the Representative APR. We will never offer you a rate exceeding 29.9% p.a. (fixed), regardless of loan size. This means you're not guaranteed to get the rate you see in the calculator.
What does APR mean?
APR can be confusing. Grab a cuppa, take a few minutes and read our guide to APR for some help.
Joint debt consolidation
Ready to get your ducks in a row? You can use a joint loan to combine both your debts and pay them off together.
If you or the person you’re applying with has other forms of debt such as a credit card, overdraft or loan, you can use a joint consolidation loan to put everything in one place and tackle the repayments as a team.
Let's get ready to apply
Before you apply, we need to check you're happy with a few things.
First, you can apply online if you:
- are 18+ and a resident with a Ednites Credit Union current account (held for 3+ months).
- have not been declared bankrupt in the last 6 years
- have not applied for a personal loan with us within the last 28 days
Now please read a few other important things:
How your information might be used
It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.
Joint bank accounts
Needing a shared bank account? Find out more about joint bank accounts. Criteria apply.
Joint savings
Saving towards a joint goal? Find out more about joint savings accounts. Criteria apply.