The range of
assistance we provide by means of loans
• from wheelchair access to a new building
• bridging loans for manse purchase
• the amount can be large (in recent years loans of up to around £500,000 have been approved) or small
• 67 Church Councils and other Trustees are at present using
a loan
from Methodist Chapel Aid
Our terms
• the loan is usually repayable within 4 years
• there is no penalty for early repayment
• the lowest practicable rate of interest is charged
• we aim to keep rates stable for at least a year
• we lend up to 50% of the cost of the building scheme
Interest rates on loans
| |
Effective from
15 March 2010 |
| |
% |
APR |
Term Loans |
3.15 |
3.17 |
Bridging Loans |
4.15 |
4.19 |
• Rates shown are per annum variable.
• Term loan rates are for loans made to Methodist Trustee bodies for buliding work.
• Bridging loan rates are for loans made to Methodist Trustee bodies for manse replacement.
• Loans are available to Trustee bodies of Church of England and other non-Methodist
Christian churches. For these the interest rates are individually
determined.
Further information
You can telephone, fax or e-mail
us and we will send you a pack of information.
John Wells, the Chief Executive,
Chris Jarratt, Company Accountant, Kath Nicholson, Sue Lynn and Helen Kendall,
Administrative Assistants form a friendly team who will be pleased
to assist you with any questions you may wish to raise. Should you
have any queries, do not hesitate to contact us by telephone, fax,
e-mail or letter at the address shown below:
1 Telford Terrace, Albemarle Road, York, YO24 1DQ
Tel: 01904 622150 Fax: 01904 672727
E-mail: mcaa@methodistchapel.co.uk
Notes
1. Where there is a Local Ecumenical Partnership (LEP) with Methodist
involvement loans are available at the rates shown above. A copy
of the relevant sharing agreement is usually required before the
loan is advanced.
2. Interest is charged on loans on 30 June and
31 December. APR is the annual percentage rate of interest on loans.
3. Loans are also available to Methodist ministers and deacons for car purchase.
The
information on this website is correct as at 1 May 2010
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