Lending Criteria & Affordability
Lewisham Plus Credit Union (LPCU) assesses each loan application based on its own merits, and we reserve the right to decline loan applications or restrict the amount lent based on any factor we consider relevant.
Loans are granted mainly based on a member's ability to repay the loan.
As a guide for members, affordable loans typicaly require net income as below:
Net Income(1) |
Product |
Maximum Initial Loan |
Maximum with Top-Up Loan |
Interest Rate |
Up to £600 |
SAYB |
£600 |
£1,200 |
3% per month 42.6% APR |
Over £600 |
SAYB |
£1,000 |
£2,000 |
2% per month 26.8% APR |
Net Income(1) |
Product |
Maximum |
Interest Rate |
Over £1,000 |
Personal |
£1,500 |
2% per month 26.8% APR |
Over £1,300 |
Personal |
£3,000 |
1.5% per month 19.6% APR |
Over £1,950 |
Personal |
£5,000 |
1% per month 12.7% APR |
Over £1,950 |
Personal |
£10,000 |
0.75% per month 9.4% APR |
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Lewisham Plus Credit Union Limited is a member of the Financial Services Compensation Scheme (FSCS), complies with the Data Protection Act 1998 and is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Firm reference number 213588. Credit Union Registration Number 295C (IP00295C at Companies House).