Member benefits

A second-charge mortgage through your credit union, from H1 2027.

MyCUmortgage Ltd is a Credit Union Service Organisation. We work with partner credit unions so that their homeowner members can borrow against the equity in their home without being routed to a commercial broker. Typical saving compared with a commercial second-charge broker on a representative £40,000 / 10-year loan: £3,400+.

When can I apply?

The CUSO entity is operational from Q4 2026, but regulated mortgage advice cannot be given until MyCUmortgage Ltd is authorised by the Financial Conduct Authority. Authorisation is anticipated in H1 2027 and is not guaranteed. Until authorisation, we provide factual information only and cannot give advice or recommendations.

Who can apply?

Members of credit unions in the founding-partner cohort or onward partners. Your credit union will let you know when it has joined the network and when its members can be referred.

What does it cost?

The credit union sets the rate. A representative example: £40,000 borrowed over 120 months on a credit-union balance sheet via MyCUmortgage Ltd produces a typical member saving of £3,400+ compared to a commercial second-charge broker. Indicative only; actual costs depend on your credit union’s product terms and your circumstances at the time of application.

Why not a commercial broker?

Commercial second-charge brokers in this market routinely charge fees of up to 12% of the loan value, before lender interest is added. The FCA’s March 2026 Broker Market Review identified failures on price and advice quality across the sector. Credit unions, member-first and Consumer Duty-aligned, are precisely the alternative the review calls for.

What about the risk?

A second charge is a loan secured against your home. Late repayment can cause you serious money problems. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Think carefully before securing other debts against your home.

Risk warning · please read

Capital is at risk. This is an early-stage equity proposition for a company that has not yet been authorised by the Financial Conduct Authority. The CUSO entity is targeted to be operational from Q4 2026, but the regulated mortgage advice service can only commence when FCA authorisation is granted. Authorisation is anticipated in H1 2027 and is not guaranteed. Founding partners may therefore hold equity in an entity that does not generate the regulated-advice revenue described in this brochure for an extended period, or at all if authorisation is refused.

Shares in MyCUmortgage Ltd are not readily realisable. There is no public market for the shares, and there is no certainty that any future market will develop. The Financial Services Compensation Scheme (FSCS) does not apply to this investment.

Founding-partner credit unions should ensure that any subscription complies with their own permissions, the Credit Unions Part of the PRA Rulebook, and the CUSO investment framework set out in PRA PS5/26 and SS2/23. Independent legal, regulatory and financial advice is recommended before any investment decision.