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.