If you need extra funds to achieve your financial goals and explore new opportunities, we offer flexible options tailored to your existing loan with us.
Total borrowing cannot exceed our maximum unsecured lending limit of £35,000, whether from one or multiple loans. Product borrowing limits apply. All applications are subject to affordability and our lending criteria.
If you’d like to apply for additional borrowing, use the interactive loan picker below to find the right product for you. Once you’ve chosen the loan that suits your needs, simply submit an online application.
After submitting your application, a member of our team will contact you to discuss your next steps. You can check your remaining loan balance through our app or online in the members area. If you’d rather speak with someone directly, call us on 0161 741 3160.
What happens after you apply?
Once you submit a new loan application to borrow more, a member of our team will contact you to discuss your options. Your additional borrowing application can proceed in two ways based on your preferences.
Option 1: Top-Up Loan – Combine your existing and new loan
With a top-up loan, your existing loan and new borrowing are combined into a single loan agreement. This new agreement would cover:
- Your remaining loan balance
- The additional amount you wish to borrow
- The total borrowing amount
- The new loan term and interest rate charged
This option means you’ll have one fixed monthly repayment. However, keep in mind:
- The additional borrowing could have a different term and interest rate than your current loan meaning you could end up paying more in interest on the balance of your existing loan.
- The new loan is offered at the interest rate available at the time of application, which may be higher than your existing rate.
- If you extend the loan term, you may end up paying more interest over time.
Option 2: New loan alongside your existing loan
With this option, you take out a separate loan for the additional amount while keeping your current loan as it is. This may be a good choice if:
- You’re close to repaying your existing loan.
- Your current loan has a lower interest rate than the one available now.
This means you’ll have two separate monthly repayments:
- Your existing loan continues with its current terms and interest rate.
- The new loan will have the interest rate available at the time of application.
Example:
There are situations where taking a second loan may be necessary. For example:
- If your current loan doesn’t allow borrowing for a different purpose.
- If you have an existing Member Loan but want to clear a credit card, the additional borrowing would need to be a Consolidation Loan.
Borrowing Limits
Individual product borrowing limits apply, please see the table below for a breakdown of each product.
| Product | Top-Up | Maximum Amount | Additional Information |
| Member Loan | Yes | £35,000 | You cannot top-up this loan for consolidating purposes. |
| Consolidation Loan | Yes | £25,000 | None. |
| Student Officer Loan | No | £10,000 | You can apply for other products as long as borrowing doesn’t exceed £35,000. |
| Commutation Loan | Yes | 50% of your commutation entitlement or £50,000, whichever is lower. | None. |
| Loyalty Loan | Yes | £40,000 | The amount you borrow cannot exceed the amount held within your savings. |
| 70+ Loan | Yes | £5,000 | Must be repaid before your 80th Birthday. |
| Holiday Loan | Yes | £4,999 | Any top-ups can only be taken out over the remaining loan term. |
| Christmas Loan | Yes | £2,000 | Any top-ups can only be taken out over the remaining loan term. |
| Revolving credit | Yes | £5,000 | None. |
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Cheadle Royal Business Park,
Cheshire, SK8 3GX
