Home Improvement Loans

Compare home improvement loans with real interest rates.

Use the funds to add value to your residential property. Upgrade and upscale your home to climb on the property ladder. Rather than moving out to a new property, it is always better to redo your current home.

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Home Loans
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  • Loan

    Loans from £1,000 – £35,000

  • Loan

    Borrow for 12 to 84 Months

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    Compare Multiple Lenders

  • Loan

    Available for Homeowners & Tenants

  • Loan

    Real Interest Rate

What is a Home Improvement Loan?

Whether you want to redo your upholstery, or you want to give a new makeover to your garden – a home improvement loan can help you. You can gain access to funds and then invest it to upscale your property. Sprucing up your residential property is the best way to enhance the value of it. Not only the location of the property, but home improvements may also add significant value to your property if you’re considering to resale it.

  • More than half of UK homeowners choose to stay out and improve their property.
  • Most of the property owners are adding a bedroom as an extension.
  • Renovating the kitchen and upgrading the garage also helps in increasing the value.
  • Homeowners are also carrying out DIYs to upscale their homes.

Reasons to Borrow a Home Improvement Loan

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Increase the overall value of your current property.

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Add more space to your home by adding a conservatory, an extension.

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A well-maintained garden can add 20% to the value of your home.

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Save money by not relocating to a new home. Rather stay and improve your current property

Things to Consider Before Borrowing a Home Improvement Loan

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  • Opt for home improvement loans, which are unsecured. That means you don’t have to put your home or anything else of value as collateral that may stand at risk if you can’t repay the loan. However, please note that your credit score will be impacted if you do not make the repayments on time.
  • Look for a monthly repayment amount that suits you. By taking out a loan over a longer period, you reduce the size of your repayments (but this also means that you end up paying more interest over the course of the loan). Therefore, choose your repayment period according to your monthly income and expenses.
  • Find a loan yourself instead of using a finance option presented by your installer. They normally present you with one choice. And with us, you can compare multiple lenders’ locked-in APRs instantly and choose the right loan for you. There’s no cost for our service and you’re under no obligation to take any loan that we suggest.
  • The interest rates that you will be offered depends on your personal and financial circumstances and it may vary from lender to lender. Your creditworthiness and credit history will be taken into consideration while the assessment of your loan application form by the lender.

Alternatives to Home Improvement Loans

Upgrading your home from time to time can help you climb the property ladder. It is also much cheaper than moving to a new place. You may also consider a few popular alternatives to home improvement loans.
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    If you have enough savings to carry out the improvements that you’ve planned, you may use it. Ensure that you draft a budget and stick to it as going over the budget may not be financially healthy. Most homeowners plan and save towards it. Do not take out a loan of the entire amount that you need. Club your savings and borrow a loan to cover the shortfall.

  • Loan

    You may even opt to remortgage your current mortgage by borrow against your home with a new contract with another lender. Although you may find this at a lower rate of interest, you may end up paying more in the long run.

  • Loan

    Interest-free credit cards can also be used to raise fund for home improvements. Ensure that if you use such cards to finance your renovation project, you make timely repayments. If you fail to cope up with the repayments, you will end up paying more due to the high rate of interest and other associated fees.

Why Should You Apply With Us?

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Real Interest Rates

Unlike other loan comparison websites, we offer you a platform to compare the rates of personal loans on real time. That means you can now compare the loans on real interest rates rather than on proposed rates

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Instant Decision

You do not have to wait for hours or days at end to know the decision of our lenders. It will hardly take a minute or two and you will receive detailed information like the lenders who have accepted your application and who have declined it.

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Customer Ratings

We love our customers and so do they. A lot of our customers have appreciated our service that is simple, fast, and transparent. We believe in making the entire process less time consuming, straightforward and easy for a seamless borrowing experience.

FAQs on Home Improvement Loans

We have answered almost every question related to home improvement loan that are frequently asked. If you do not find something, please contact us.
Faq

You must be 18 years of age or above. Our lenders lend only to customers who are aged 18 or above.

That’s right. We can only consider your application if you’re in permanent or part-time employment. If you are unemployed, you may not be able to pass the lender’s affordability assessments. The exception is if you have other good sources of incomes like rental income and you can convince lenders that you can afford to pay the loan with those other incomes.

We’re sorry but we can’t accept applications from you. People on IVA, Debt Management Plan and on Bankruptcy are considered as negative customers by lenders. It is a sign that you can’t really manage your finances. Due to this, we are very sure we won’t be able to find you a loan if you are on IVA or Debt Management Plan or have filed a bankruptcy in past.

When you apply, we’d really appreciate it if you hand out details of where you are living, your residential status, where do you work (current employment status), your monthly expenditure and your earnings.

No.

Depends. If we have all the information we and our lenders need, a “yes” or “no” answer from lenders who are willing to lend you with their APRs/quotes will be displayed on your screen on a real-time basis.

No, we do not. Because we are a credit broker. A broker pairs up borrowers and lenders. It’s important that you know that LoanTube and all the lenders we work with are licensed by the Financial Conduct Authority.

When we become partners with a lender, one of the first things they do is to send us a list of the types of borrowers they would like to work with. You might be just the type of borrower one lender is looking for but another might not consider you. Our job is to pair you with the right lenders based on the information you give us.

We don’t charge you anything to apply for a loan on LoanTube. We don’t even charge if we find you a loan and you decide not to go ahead with it. We receive a “thank-you” payment from the lender when one of our applicants takes out a loan. If you’re approved, you’ll pay the lender exactly what you’d have paid them had you approached them directly.

When we’re searching around for the best deal for you, we only carry out a soft credit check. Soft credit checks have no effect at all on your credit score. By carrying out the soft check, it gives us a better idea of which lender to propose your home improvement loan to because, when they make a decision, they consider both what’s on your application and what’s in your credit report.

Of course. If you want to stop your application at any point or you receive an offer but you decide that you don’t want to accept it, that’s fine. There’s no obligation to our service and you won’t be charged by us or our lenders.

Representative APR Example

The rate you are offered will depend on your individual circumstances.

Representative APR Example: On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed). Representative 49.7% APR. Total amount payable £4,557.89 of which £1,957.89 is interest. 35 monthly repayments of £126.61 and a final payment of £126.54