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Home Improvement Loans
- The repayment amount is fixed
- Tenants can improve their home
- Some lenders offer no early repayment penalties
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
Credit subject to status & affordability assessment by Lenders.
LoanTube is a credit broker and not a lender
Our comparison service is free for you to use. Yes it’s free!!
Are you thinking how we make money then? – We receive a fee or commission from lenders whenever you obtain a loan through LoanTube.
3 Things to Know About Home Improvement Loans
Did you know that, once a home improvement project is completed, it makes three-quarters of Brits feel “happy” and “content”? 50% of us have improved our homes in the last five years. However, what should you look at if you are seeking a home improvement loan?
- 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).
- Look for a loan yourself via LoanTube instead of using a home improvement finance option presented to you by your installer. An installer will normally present you with one choice but thanks to the way LoanTube works, 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.
- Look for home improvement loans, which are unsecured. That means you don’t have to put your home, car, or anything else of value as collateral that may stand at risk if you can’t repay the loan*.
When should you take Home Improvement Loans?
- If your home needs urgent repair which cannot be delayed anymore
- When you know that you can afford the repayment
- If you want to increase the resale value of your home
- Your home needs to be prepared for an upcoming event and there are other expenses as well, but you just need a helping hand to make small renovations
When should you not take Home Improvement Loans?
- If you have enough cash to carry out home improvement use it rather than opting for a loan
- When you are not sure you can afford the repayments*
- When the repairs that are needed do not hold much importance
FAQs on Home Improvement Loans
What should be my minimum age while applying for a loan?
Do I need to have a job to apply for a home improvement loan?
If I am bankrupt, I have an Individual Voluntary Arrangement (IVA), or I am on a debt management arrangement plan, should I apply?
What do you need to know about me to get a home improvement loan?
Do I need to provide you with a guarantor?
Do I get an instant decision?
Does LoanTube lend me the money?
How do you choose which lenders to approach on my behalf?
How does LoanTube make money? Will it mean that I pay more?
Do you have to run a credit check?
Can I change my mind?
Why trust LoanTube?
How does it work? Our clever computer system compares real-time offers made directly by the lenders. This is all done in real-time and, once we have all the quotes, we will display the offers with their terms and conditions to you.
Taking out Loan and Change of Mind
It is up to you if you want to go ahead and take out of the loan. Please read the terms, conditions, and costs (including APRs and other fees/costs) of the loan to decide whether its right for you. If you accept, a loan agreement will be made between you and the lender but if you change your mind, you can cancel it within 14 days.
In the vast majority of the cases, the quote you see on our offer screen is the quote you get. Occasionally, a lender may need to ask additional questions and do additional checks on your application. The information you give or they obtain from their sources, makes your application significantly riskier, they may change the APRs/quotes of the loan, which could make it more expensive, but you are free to reject such offers. They may also withdraw the offer of a loan.
Our Service is Free
LoanTube’s service is free regardless of whether you find a loan or not, and whether you decide to take up the offer. Under no circumstances, will you pay anything for our services. We receive a payment from the lender in the form of a commission whenever a loan is taken out by a customer using our service.
How to Apply
You can apply for an unsecured personal loan with us anytime. It will not take much time to complete our loan application form. To start, click here.
Representative APR example
We compare loans that can be paid back over terms of between 1 month and 25 years. The APR interest rate you will be charged depends on your personal circumstances, and will be between 3% and 299%.
This is a representative example of what it may cost: a Loan of £7,500 over 60 months at 3.3%, APR would equate to monthly repayments of £135.60, and the total cost of the loan that you pay back would be £8,136.22.