One, two and loft makes 3!
Make room for improvements – convert your loft into a bedroom!
How does a loft conversion loan work?
Whether it’s a playroom or study for your growing family, or a space for friends who often crash at your place, loft conversion could give your home an edge to strike out. Get the financial support that you need to convert your attic/loft into a functional room with a loft conversion loan.
When you borrow via LoanTube, you won’t provide any collateral to secure a loft conversion loan. The offers that you see will be in-line with your financial circumstances and creditworthiness, to ensure that the repayments align with your budget.
What are the benefits of attic conversion loans?
Loft conversion can be a costly affair, both in terms of labour and materials. But, the right financial aid from LoanTube can take the weight off your shoulders. Spread your loft conversion costs into affordable monthly instalments and watch your home bloom!
Attic conversion comes with a range of benefits, including:
⦁ Increased living space;
⦁ Up to 21% boost in property value;
⦁ Energy-efficient space;
⦁ Budget-friendly home upgrade
How much will a loft conversion cost?
Most loft conversions start from £15,000 and can go as high as £50,000, but it all depends on your home and the type of changes you’re looking to make. Here’s an idea of the average loft conversion cost in the UK:
£15,000 – £20,000
£30,000 – £60,000
£40,000 – £65,000
£45,000 – £75,000
Compare and find your ideal loft conversion loan at the click of a button. You can borrow up to £35,000 to help cover labour and material costs. Transform your attic into ‘the room with the best view’ with LoanTube.
If you’re unsure which type of conversion suits you best, consult with a specialist to get a quote before making a borrowing decision.
What to consider before borrowing a loft conversion loan?
Loft conversion brings about significant changes in your house. So, there are several things to consider before moving forward. Ask yourself these questions before planning your loft conversion:
• Is my house suitable for a loft conversion?
Checking the structural integrity of your house is the way to go. Loft conversions will add on the burden to your home. Therefore, it is crucial to check if the structure will withstand the changes. You must also ensure that the floor-to-ceiling distance of your loft is at least 2.2 m at the tallest part. If not, get a specialist on board for advice on the best work-around for the issue.
• What type of loft conversion suits my home the best?
Loan conversion costs vary from type to type. Get an idea about the ideal kind of conversion for your loft, considering all the costs involved.
• Do I need planning permission to go through with the conversion?
You’d be surprised to know that most homes in the UK inherently come with an allowance for permitted development. So, you may not need planning permission as long as the converted room doesn’t extend beyond the permitted area.
• What building regulations do I need to keep in mind?
Building regulations are different from planning permission. There are a set of guidelines that you’ll need to satisfy to go through with your loft conversion project – for instance, fire doors, safety stairs, etc. Take the help of a specialist to learn more about these regulations.
How much value will loft conversion add to my home?
A loft conversion can boost the value of your property by up to 20%. Your neighborhood also determines how much the market value of your property increases after loft conversion. For instance, a property with a converted loft in Central London, where there’s a higher demand for extra rooms, can boost your property’s value by a whopping £200,000.
Tell us how much you need, for how long, and for what purpose.
We find you the loan offers you qualify for from multiple lenders.
Select the loan that best matches your circumstances, and Get Funded.
Homes usually come with pre-approval for permitted developments. So, as long as you adhere to the building regulations while converting your lift, you won’t require planning permission.
Usually, a tax band change does not affect you until you’re residing at the property in question. A loft conversion will only affect your council tax when you move out of your home.
It could take 4-5 months to convert your loft for a more extensive and large-scale project. However, if it’s a small scale project, it may take 12 weeks to complete it.
You can borrow up to £35,000 over 12-84 months with LoanTube.
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
Our APR rate starts from 15.6%. The maximum APR we offer is 249.55%, but you will get a personalised rate tailored to you. The minimum repayment term is 1 year, the maximum repayment term is 20 years.
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.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on any debt secured against it.