Borrow with Confidence: 4 Questions to Ask Yourself Before Applying for a Loan
Borrowing can be a helpful way to spread the cost of bigger expenses, the key is making sure it’s affordable and clear from the start. Before you apply for a loan, take a minute to ask yourself:
What is The Total Cost of The Loan?
Look at the range and rates alongside the monthly repayments. This helps you gain a better understanding of how much the loan will impact your finances.
Can I Afford Repayments if Circumstances Change?
Ask yourself if you could still afford repayments if bills increased or an unexpected cost came up. If the answer is no, try looking for a different loan.
Why am I Borrowing This Morning?
Your reason for borrowing is very important. One off needs can be manageable but borrowing to cover regular shortfalls may mean you need to approach your budget from a different perspective. Check out our confidential, independent and free budget planner here.
Could I Simplify My Repayment Schedule?
If you’re juggling multiple repayments, consolidating your debt into one monthly repayment can help to reduce stress and cost. Thistle Credit Union, we offer debt consolidation loans at affordable rates built with you in mind. For more information about debt consolidation can be found here.
Why Choose Thistle Credit Union?
Thistle Credit Union was founded under the name Blantyre Credit Union in November 1991 and has been proudly affordable loans and ethical savings ever since. We’ve grown rapidly over the last 30 years and are now trusted by over 14,000 members across the West of Scotland.
Thistle Credit Union offers a genuine alternative to traditional banks through our ethical savings accounts, affordable low interest loans and not for profit approach. Contact our friendly team or follow us on our social media platforms for more information about how Thistle Credit Union can help you thrive.