Home improvement loan advice

Hi visited Ulster Bank a month a month ago to apply for a €40k home improvement loan to be paid over 4-5 years. By removing the step up payment on my tracker mortgage the loan adviser indicated that I met the affordability requirements. I was told it would take 5 working days. I'm still waiting for a response over a month later. The loan rate offered is 10.9% (includes UFirst member 1% discount).

I have applied to the local credit union. Their interest rate is 10.5% but the maximum amount they loan to any customer us €25k.

I looked at the online offers from Bank of Ireland and AIB and they look the same as Ulster Bank.

I notice that Dundalk Credit union is 6.9% but unfortunately you need to be living and working there.

Any advice on an alternative solution?

The Ulster Bank have such a pile of new loan requests they are running at least one month behind. I applied for lending (business) one month ago and still have not been given a answer, although the certain conditions have been advised to me. And mine is a no brainer -- cash against cash. UB are the only Bank in Ireland doing any kind of credible lending versus the incredible lending the AIB & BoI did in the past.

Interested in this one too....

OkeyDokey said:

I have applied to the local credit union. Their interest rate is 10.5% but the maximum amount they loan to any customer us €25k.

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The CU effective rate is going to be (possibly significantly) higher than 10.5% once you factor in the normal requirement to hold 25% of the loan balance in shares while borrowing. Unlike other financial institutions it is not possible to directly compare CU rates (even their APRs) with other loan offerings due to this requirement.