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Home Improvement Loans

  • Repayment amount fixed
  • If you borrow more, the interest you pay is less
  • Some lenders offer no early repayment penalties
Credit subject to status & affordability assessment.
Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK

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 use LoanTube to find you a loan.

3 things you need to know about Home Improvement Loans online

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. But what should you look if you’re looking for a loan for home improvement?

  • 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 does mean 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. Installers often team up with finance companies to offer customers the ability to pay their loan off over time. An installer will however normally only 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. Better still, there’s no cost to you for our service and you’re under no obligation to take any loan we suggest to you.
  • 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 you will put yourself at risk of losing if you can’t repay the loan.
Loan

When you should take Home Improvement Loans

  • Bring forward planned home improvements
  • Home improvements may increase the value of your home
  • Fixed monthly repayments over the course of your loan
  • Easy application process with LoanTube
  • Quick decision

When you should not take Home Improvement Loans

  • Make sure monthly repayments do not cause any hardship
  • You will pay interest on your loan
  • Your credit score will be affected if you can’t keep up with repayments

Frequently Asked Questions about Home Improvement Loans online

How old do I have to be to apply for a home improvements loan?

You need to be 18 years or older.

Do I need to have a job to apply for a home improvement loan?

That’s right. We can only consider your application if you’re in permanent employment.

If I am bankrupt, I have an Individual Voluntary Arrangement (IVA), or I am on a debt management arrangement plan, should I apply?

At this time, we’re sorry but we can’t accept applications from you.

What will you need to know about me to get a home improvement loan?

Not a massive amount – certainly less than the bank you’re with would need to know. When you apply, we’d really appreciate it if you had to hand your addresses for the last five years, who you work for, how much you earn a year, and what your normal monthly outgoings are.

Do I need to provide you with a guarantor?

No – it’s only you we’ll be working with. We don’t need the details for anybody else for your loan.

Do I get an instant decision?

Normally yes – you’ll find out in no time at all. When we’ve got all of the information we need, we’ll be able to give you a “yes” or a “no” quickly. What’s more – each loan option we present you with will show a locked-in APR so you can make an informed choice that’s right for you. Sometimes though, we or the lender might need a little more before we can come to a definite decision. If that’s the case, we’ll contact you, let you know what we need, and when you’ve provided us with what we’re after, we’ll get you an answer very quickly.

Does LoanTube lend me the money?

No we don’t because we’re what’s called a “FCA-approved broker”. A broker pairs up borrowers and lenders. When you receive your cash, it’ll be paid directly by the lender to your bank account. It’s important that you know that LoanTube and all the lenders we work with are licensed by the Financial Conduct Authority. We all have to pass strict tests to win those licenses and there are lots of rules we have to follow once we’re licensed that are designed to protect you – the borrower.

How do you choose which lenders to approach on my behalf?

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 like to work with. You might be just the type of borrower one company is looking for but another might not consider you. Our job is to pair you with the right lenders for you based upon the information you give us.

How does LoanTube make money? Will it mean that I pay more?

We don’t charge you anything to apply for a loan on LoanTube. We don’t even make a charge if we find you a loan and you decide not to go ahead with it. The way we get paid is that we get a “thank-you” payment from a lender when one of our applicants takes out a loan. And what’s more you won’t pay anymore in interest if you choose to use LoanTube than if you applied to a lender directly – in fact, because of the way we work, you might even end up paying less. Refer to Why apply through LoanTube to know more.

Do you have to run a credit check?

Yes, we’ll need to a run a credit check on you prior to a lender approving your loan. The reason for that is that we promote and encourage responsible lending – we don’t want to lend money to anyone who can’t afford the repayments. In fact, the more a lender knows about you, the more they can tailor the loan to your needs and your life. Importantly too, it’s what the Financial Conduct Authority requires us and all other lenders and brokers to do.

Can I change my mind?

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.

Why apply through LoanTube and not somewhere else?

LoanTube takes a different approach. When you buy a house, you don’t offer the asking price. When you buy a car, you’ll always go for a discount. We all know that the best deals are out there for the people who ask for them.

That’s what we do on your behalf – we ask for the cheapest deal on your behalf. This is how LoanTube works – we send your details to all of the lenders we know that you’re a good match for. They send us all of their initial offers. We then get each loan company to compete for your business by reducing the cost of your loan so that, in the end, you pay the cheapest rate possible.

To start your home improvement loan application process, please click [here].

Representative APR example

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