Is there anything which isn’t going up? Household bills, fuel costs, the weekly supermarket shop?
Well there’s one thing which has gone up and we’re proud to be launching it today.
Our £600 Family Loan Plus is a brand new loan designed to meet the needs of families in Blackpool, Fylde, Wyre, Preston and Lancaster.
It’s our highest value Family Loan to date and aims to make life a little easier in the face of rising costs everywhere we look.
The Family Loan Plus is up from the original £500 Family Loan as a reflection of the way bills and expenses are increasing pressure on families every day.
Members can use the loan however they choose. That could be to take the family away for a much needed break, or help towards covering the costs of childcare and activities during the school holidays.
It could remove the headache of an unexpected expense such as replacing a broken washing machine or vacuum cleaner (because who can manage without those things when you’ve got kids in the house?), or cover car repairs (ditto).
We all know that when you’re a parent the expenses never end and can often eat into that nest egg you’ve set aside for planning something nice or covering an emergency.
Just when you think you’ve got their wardrobe sorted, they’ve grown and a whole new set of clothes is needed, or their latest activity requires a whole new uniform.
Entertaining small people and teenagers can be a costly affair, and birthdays can be a huge lump sum expense. In fact, these days a special meal or a family day out can run into the hundreds of pounds.
Having the cash available upfront can help make sure you don’t get into debt while trying to make life better for your family. It’s not about spending too much or living beyond your means. It’s about balancing the books and borrowing in a responsible way which won’t give you sleepless nights in the future.
The best thing about the Family Loan Plus is the number of ways you can pay it back. Some people join CLEVR Money as a Payroll Partner so their loan is paid back direct from their wage while others set up one of their benefits to repay their loan, such as Child Benefit.
Or you can just set up a regular Standing Order or Direct Debit to repay a set amount every month, ensuring they never miss a payment. And if you’re unsure of how to do that, our loans team are on hand to help you.
By making the repayments, members help to improve their credit rating which can help them when applying for larger loans in the future, like car finance or a mortgage. And, because were a responsible ethical lender, we’ll ensure the loan is affordable and doesn’t cause you financial hardship further down the line.
The application is an easy online process, open to both existing members of CLEVR Money and non-members.
If you’re not already a member, you can apply for membership as part of your loan application.
If you want to have a chat about our loans before applying, give our lending team a call on 01253 478390.
Borrowing £600 over 12 months will cost £60.28. Total amount repayable is £723.36 which includes interest at 42.6% APR. The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status.