Are you eligible for a Handy Loan?


Please read the following before applying for a loan with Hoot Credit Union to avoid any potential negative impact on your credit file.

You are more likely to be accepted for a Handy Loan* if you:

  • are 18 years or over
  • can show you have regular earnings income or benefits of over £500 per month (excluding housing benefit)
  • agree to save with the credit union whilst repaying your loan

Income less than £500 per month after housing costs? Call us to find out more about our Starter Loan aimed at getting you back on the good credit ladder.

You are less likely to be accepted if you:

  • can’t prove a regular source of income
  • have had defaults or CCJs in the last 12 months

We regret that are unable to offer a loan if you are on an Individual Voluntary Arrangement or debt relief order or been declared bankrupt in the last 2 years.

If you are not already a member of Hoot Credit Union you will be registered as a member as part of the loan agreement process.

Please note that if your sole income is from benefits you may be asked to pay one of those benefits into the credit union as a condition of the loan.

* Meeting these criteria does not guarantee acceptance. Interest and repayments depend on individual applications and will be made clear to you when signing the loan agreement. Late repayment of loans can cause you serious money problems. You should only take out a loan if you are comfortable you can afford the loan and can repay on time. Applicants are expected to save with Hoot while repaying their loan.