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Letterkenny CU launch ‘green’ home improvement loan

With the recent announcement of the government’s new Climate Action Plan, many households will be working to reduce their carbon footprint. Most importantly for homeowners, the new strategy includes plans for the retrofitting of 500,000 homes. This will be hugely beneficial for our local environment in Letterkenny, and for the country in general.

However, as with anything that has major long-term human and societal benefits, making our homes ‘greener’ will come with a significant cost. The good news is that Letterkenny Credit Union stands ready to provide loans for those looking to retrofit their homes in the coming months.

Gordon Randles, CEO says Letterkenny Credit Union has launched a new ‘green’ home loan for those wanting to retrofit their homes, but who might need some financial assistance to do so. “The new loan is as affordable as it is flexible. To mark the recent announcement of Ireland’s new climate plan, the loan is currently being offered at an APR of 8.2% *. The loan is typically approved within 24 hours and does not have any hidden fees or costs. Letterkenny Credit Union is happy to work with borrowers to structure the repayments in a way that suits their financial circumstances best. The product is designed to take the toxic stress out of home improvements, so you can focus on the greener aspects of your upgrade.” In addition, Letterkenny Credit Union can also help with a loan to assist those homeowners using SEAI home energy improvement grants to retrofit their homes. The Sustainability Energy Authority of Ireland (SEAI) grant aims to increase the Building Energy Rating (BER) for homes. The grant ranges from €300 for attic insulation, to €700 for upgrades to heating controls and to €6,000 for external wall insulation. The added benefit for homeowners is their return on investment; saving money on their heating bills once the work is completed.

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The SEAI Grants typically cover one-third of the total cost of the works for an average home. Homeowners can apply to Letterkenny Credit Union for a loan should they need assistance with the remaining balance of the energy upgrade.

For further information on the new, green home loan, contact Letterkenny Credit Union at 0749102126 or email loans@lettekennycu. ie

*For a €20,000, 5 year variable interest rate loan with 60 monthly repayments of €405.06, an interest Rate of 7.95%, a representative APR of 8.25%, the total amount payable by the member is €24306.04. Information correct as at 23/08/2019.

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