Remortgage for Home Improvements

Explore Remortgages & Secured Loan options.
Raise money for Loft Conversion, Kitchen.
Raise money for Extension, Bathroom etc.
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Remortgage for Home Improvements

Carrying out home improvements can be expensive and therefore you may need to borrow money. Here we look at the ways in which this can be achieved and considerations you should have.


What ways can you raise money for home improvements?

There are several ways in which this can be achieved such as:

  • Unsecured Loans - These are typically offered by your high street banks plus there are some online lenders also. The loan amounts tend to range from £500 to £25,000 and you can generally spread the monthly payments over 1 – 5 years. Taking out a loan can be a quick process of a matter of days.
  • Further Advance - This would be provided by your current mortgage lender. Not all lenders offer this option, but it is certainly worth exploring.
  • Secured Loan - This would be a 2nd mortgage secured against your property. As the loan is secured against an asset these loans can be from £10,000 to £500,000+ (equity and affordability dependant) and the payments can be spread over a longer period of time such as 25 years.
  • Remortgage - This is a new mortgage which would pay off the existing mortgage and at the same time you can raise the extra required money for the intended home improvements. As a mortgage you can borrow larger sums of money (equity and affordability dependant) and again spread the monthly payments over a longer period of time – say 25 years for example.

It is important to explore all these ways to finance your home improvements to ensure that you are fully aware of your options to allow you to make the best choice going forward. A mortgage broker can help you come to this decision.

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What to Expect from The Money Hub

We Gather Information Required to Search the Market

We gather some basic information about you using our quick online form

Conduct a Whole of the Market Comparision

We will search 100’s of providers to find you the lenders who are willing to approve your mortgage

Provide full service through to completion

We will show you rates along with the monthly repayments. This will not affect your credit score. We’ll also explain any fees if you progress at this point and as long as you are happy to proceed, provide you with the full service through to completion of your mortgage being accepted

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Remortgage FAQ's

Ways to raise money for Home Improvements?
By remortgaging you can raise money for the home improvements that you want to carry out, although bear in mind there are other ways to raise money which should be explored, such as an unsecured loan or a secured loan.
How to remortgage if you are self employed?
Making sure you can afford the remortgage is esential. Lenders will typically require the last 2 years tax calculations & tax overviews or your accounts. Most lenders will work out the affordability using the net profit figure.
How long does a Remortgage take?
A remortgage should complete in around 4 to 6 weeks. It is important that you use a broker who is experienced in arranging remortgages to avoid unnecessary delays.
Remortgage for Home Improvements

Product Name: Mortgages

Product Description: Remortgage for Home Improvements

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Joe

Gary has been brilliant throughout the whole process. Very knowledgeable, helpful and efficient. The service provided as a whole, has been excellent, 10/10.