🚨 Many UK Families Lack a Washing Machine
A startling 1.9 million people in the UK—equivalent to around 480,000 households—live without a washing machine. That’s 1 in 20 households. If you are reliant on laundrettes for your family’s laundry, a Family Saver Loan from Wave Community Bank could help you buy your own machine and save money.
Buying vs. Laundrette: What’s Cheaper for Family Laundry?
Doing the family laundry at a laundrette might seem like the easiest option when you don’t have a washing machine—but over time, it adds up. We’ve compared the real cost of doing two loads a week at a local laundrette vs. borrowing £400 from Wave Community Bank to buy your own washing machine and washing at home.
🏦 Option 1: Using a Laundrette Twice a Week
If your family needs two loads of washing per week, here’s what it costs at a laundrette. We’ve included the cost of travelling by bus too to show the real cost for some families:
- Wash: £7 per load (incl detergent) × 2 = £14/week
Add travel:
- Bus fare: £2 each way = £4/week
🔢 Annual cost:
- Laundry only: £728
- With bus fare: £936
🏦 Option 2: Buying a Washing Machine with a Family Saver Loan
Wave Community Bank’s Family Saver Loan is a responsible borrowing option for families, with repayments from Child Benefit. Here’s what it could cost:
- Loan amount: £400
- Loan term: 52 weeks
- Interest rate: 42.6% APR
- Weekly loan repayment: £9.19
- Compulsory savings: £5/week = £260 saved over the year
- Net cost: £478
- Average cost of electricity, water and detergent per wash: 41p x 2 washes per week = £43
- Total cost: £521
Plus at the end of the year:
- You own the washing machine so you would only have electricity, water and detergent costs on–going and any repair costs if needed.
- You have £260 in savings
- Your weekly cost was significantly less than the laundrette
✅ Why Borrowing Could Be the Better Option
💰 You could save £207-415 a year by borrowing and owning a machine.
⏱️ Save up to 6 hours a week—that’s more than 300 hours per year not spent in laundrettes.
✅ Do laundry on your terms—no waiting, no shared machines, no travel costs.
🌱 Build a savings habit—the Family Saver Loan includes a savings pot you keep at the end of the loan.
Ready to switch?
Apply online today. The Family Saver Loan is an affordable, flexible option designed to help households just like yours.
