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.
Loans from £1,000 – £35,000
Borrow for 12 to 84 Months
Compare Multiple Lenders
Available for Homeowners & Tenants
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
Increase the overall value of your current property.
Add more space to your home by adding a conservatory, an extension.
A well-maintained garden can add 20% to the value of your home.
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
- 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.
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.
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.
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?
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
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.
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.
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