HOME IMPROVEMENT LOANS

Secured Loans - £10,000 to £1 Million.
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COMPARE LOANS

Applying for a loan may seem challenging. You need some extra cash but the choices can be overwhelming and hard to understand with jargon like APR, secured, unsecured and so on. Its hard to know where to begin. We can help...

We can advise and help you choose the right loan for you, from personal loans to homeowner loans. We can even help you secure funds if you have a bad credit history. We will help you to understand the conditions of your loan and give you a full detailed breakdown along with lender details. Naturally, the most important thing is to make sure you will be able to afford the repayments.

Home Improvement Loans

SECURED LOAN LENDERS

(not all lenders displayed - not specific to your personal circumstances)

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THE ACTUAL RATE AVAILIABLE WILL DEPEND UPON YOUR CIRCUMSTANCES. PLEASE ASK FOR A PERSONALISED ILLUSTRATION.

LOANS MAY BE SECURED ON YOUR HOME. YOU WILL HAVE TO PAY EARLY REDEMPTION CHARGES THIS WILL VARY. A VARIABLE RATE LOAN MAY GO UP OR DOWN IN LINE WITH THE BANK OF ENGLAND BASE RATE. IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT YOU MAY BE EXTENDING THE TERMS OF THE DEBT AND INCREASING THE TOTAL AMOUNT YOU REPAY.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

WARNING: LATE REPAYMENT CAN CAUSE YOU SERIOUS MONEY PROBLEMS. FOR HELP, GO TO MONEY ADVICE SERVICE.

FREQUENTLY ASKED QUESTIONS

How we work?
By making an enquiry we will contact you to discuss your needs and outline if we can be of assistance. We will then request a copy of your credit file and this will be passed to a qualified adviser to review and give you advice and discuss possible quotations. If you wish us to proceed and get a ‘Decision in Principle’ we can do so. Once we have a decision from the lender we will discuss and email you a formal quotation and outline the process from there.
What is a homeowner loan?
This is a loan secured on your property as you are a homeowner. As the loan is secured upon the property lenders are more willing to provide cheaper rates when compared to unsecured loans and additionally can lend you more money over a longer term.
Can you get a secured loan with a bad credit history?
Yes. If you have had bad credit in the form of mortgage arrears, defaults, county court judgements, IVA and payday loans we have lenders that can help providing you have enough equity and can clearly afford any new borrowing.
How much can I borrow?
Secured loan lenders provide loans from £10,000 to £750,000. This depends upon your credit profile, equity in the property and affordability.
Why take out a secured loan rather than a remortgage?
We will always explore both options to ensure you get the right advice. Here are some reasons why a secured loan is more suitable, when compared to a remortgage:
  • Your main mortgage is at a low rate and any remortgage will be at a higher rate.
  • Your main mortgage has a large early repayment charge if you were to redeem this.
  • Your main mortgage has a long term left, whereas you want to borrow £XX over a shorter term to pay off quicker.
  • Your credit profile may mean a remortgage is not possible.
I have been declined in the past – can you help?
The key to this question is why you were declined. We provide an advised service, so if we cannot help you now we will explain why and provide advice as to what you need to do to be able to get a loan in the future.
How quickly can I get a secured loan?
Typical completion time from application is between 4 – 6 weeks.
What loan purposes do you accept?
Most legal purposes are allowed.

Home Improvement Loans

Home improvement loans are very popular and as the name suggests they are loans for people wanting to improve their property and do not have the funds available to do this. Saving up for a major home improvement such as an extension , garage or conservatory make take years and after that time the requirement may not be quite so important. Sometimes people need a home improvement loan quickly. Perhaps a baby on the way, or simply not enough room at the house. Saving the money would take too long, so a home improvement loan can be the answer.

A home improvement loan can take different forms depending on your current circumstances. Home improvement loans may be measured on affordability as well as your personal financial situation and credit score. You will need to work out how much you need for your home improvement loan and which type of loan suite.

A personal loan may be the quickest and easiest option, depending upon how much money you need to borrow. Typically up to £15,000 for an unsecured personal loan, assuming that your credit score is pretty good. Should you need to borrow more, or your credit history is not perfect then a secured loan on the property may be a good idea, assuming of course that there is sufficient equity in the property to cover the home improvement loan, with a little extra equity to cover any other eventualities. Lenders feel safe with a secured loan and often, for home improvements this may be on of the best solutions.

Another option for a home improvement loan, and one which many people take is an extension to their mortgage. Lenders look favourably on home improvement loans this way as they usually increase the value of the property.

Our team of specialist advisors are happy to discuss your individual requirements and answer any questions that you may have. Getting the right home owner loan and the right deal is important and we can potentially save you a lot of money and time by making the most appropriate application for the best home improvement loan deal. Give us a call and we will be more than happy to discuss your requirements and help you all the way.

Here is some additional information on related topics from our blog:

5 Ways to Raise Money for Home Improvements

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