Could a No1 CopperPot Commutation Loan help you?

9 July 2018

Could our Commutation Loan help you?

Being exclusive for the Police Family means that No1 CopperPot Credit Union have bespoke products tailored for their members needs. If you are approaching retirement, the Commutation Loan may interest you.

The Commutation Loan allows you to unlock part of your commutation up to three years before you are due to retire. Many members use the Commutation Loan as an opportunity to kick start their retirement plans early. They have purchased holiday homes, bought new cars and funded many other retirement dreams.

How does it work?

Interest-only loan at 8.9% APR - you only pay the interest on the amount borrowed. Upon retirement the full balance is settled.
Unlock up to £100,000 or 80% of your commutation entitlement (whichever is the lower amount), up to three years before you are due to retire.
You have the option to take your loan in stages.

Here's a bright idea...
If you are planning to use your commutation to repay existing borrowing, the Commutation Loan allows you to do this up to 12 months prior to retirement. They will lend up to a maximum of £50,000 for this purpose with the Commutation Loan.

Click here for more information

Please note you will need to be a member of No1 CopperPot Credit Union before applying for the Commutation Loan.