How to fund home improvment
Depending on the type of work you are looking to do, how much it’s likely to cost and how soon you need to do it, you have a few different options. For larger-scale projects which cost £20k+ you may need to take out a loan, another option would be to remortgage and use the equity in your property to fund the work. Find out more about remortgaging here.
Using a Homeowner Loan to fund home improvements
One of the most common ways of funding home improvements is through a Homeowner Loan. A Homeowner Loan or secured loan is a type of loan available to people who own a home. Unlike an unsecured loan, a homeowner loan is secured against your property which gives the lender more security, this means that you’re usually able to borrow more at a lower rate. A Homeowner Loan is a good option to consider for larger-scale home improvements because it allows you to borrow larger sums of money to fund the project.
Examples of ways you can use a homeowner loan for home improvements:
- Building an extension or conservatory
- Building or repairing a garage
- Replacing a kitchen or bathroom
- Converting an attic
How we can help?
Whether you’re planning home improvements or are simply looking at ways of funding home improvements our advisers can help. With our vast experience in the property sector, our advisers will be able to help you find the funding your need for your project.