A home improvement loan is a standard offering that you could leverage for renovations, extensions, and repairs.
Whether you are looking for loft conversion, cabinet update, or revamping the restroom vibes, bathroom renovation and refinishing, building a conservatory, and constructing a separate pet abode, home improvement loans could turn it into a reality.
Individuals prefer these for energy-efficient renovations like adding a skylight, solar panels, or insulation.
You can also apply for a secured personal home improvement loan. Doing so may help you borrow a more significant amount. Defaulting secured home improvement loans can grant the lender a complete control over the property.
If you share financial flexibility, you can go for unsecured loans. It eliminates any such fears. You may get a lump-sum amount here, which you must repay within a year.
Around 77% Of UK homeowners spent a fortune on amplifying property in 2021.
Out of which maximum individuals spent on garden renovations followed by living room upliftment. With pandemic shutdowns, financing for home improvement became easier.
Amplifying certain home aspects require capital. These are essential for home renovation, repair, and development purposes. You can use home improvement loans if considering a:
These terms are often used interchangeably. You must have struggled to choose the right one for your purpose. The table below will help you decide:
| HOME IMPROVEMENT LOANS | HOME EQUITY LOANS |
|---|---|
| These are collateral-free personal home improvement loans (in most cases) | In this, one pledges their home as collateral to get the loan |
| One can use it for purposes like updating the patio, doors, extensions, partitions,etc. | It could be used for anything except home improvement. |
| These have slightly higher interest rates than home equity loans | As these loans are collateral-backed, one could grab them at lower interest rates |
| One can fetch these loans on the same day | Approval on these loans takes nearly 2 weeks |
| It is ideal if you do not wish to risk your home and need funds quickly. You could borrow a defined amount by (going for secured loans) | It is ideal if you want cash for other life purposes by staking equity. You may borrow higher cash with longer pay-off periods |
Now, you must be clear about the loan that meets your purpose the best. Home improvement loans at the platform cover A-Z requirements.
As per Compare Market Research, around 32% of homeowners applied for loans for home renovation last month. If you, too, are considering important updates and upliftment in your home, it could help.
Most individuals delay their home renovation plans owing to budget constraints or financial crunch. The home devalues in the worst cases, like ceiling dripping, chipped walls, and unfunctional backsplash. Delaying might make things irrevocable. You could end up spending 60% MORE here.
Figuring out the best loans for home improvement saves the day. It ensures an upfront sum for any renovations. You can leverage the opportunity and pay later in instalments as per the agreement.
Here are some more reasons to grab a loan quote today:
Fixed Interest rates
Unlike variable interest rates, which may prove beneficial or exceed the costs, one can benefit from fixed interest rates even more. You can budget accordingly without any surprise changes.
Flexible lending terms
If you wish to borrow money for home improvements, pick a comfortable amount and the repayment period. Evaluate the affordability before borrowing an amount.
Relish Freedom to spend the amount
You share the flexibility to use the amount. If you wish, you can use the amount left for other initiatives.
We help ensure quick loan disbursal with a customer-friendly process. Here is how our buffering-free home improvement loan process works:
Plan the home improvements you need to work on and the duration it will take. Check the loan eligibility with a free checker. Identify the purpose as per the affordability, mortgage issues, and conditions.
The eligibility checker will help you identify the total costs. You can easily decipher the chances of qualifying for the loan. Once you have the total cost, identify the savings. You could consider only the most essential updates if your savings are insufficient. We help you fetch the best loan quotes balancing affordability and requirements.
After evaluating the loan approval chances, apply online. Ours is a specific loan approval process that eliminates the requirement of the offline application. If you wish to, you could leverage that too.
Credit screening is a part of the affordable and seamless loan approval process. The credit score would not suffer much even if you apply for bad credit home improvement loans.
It takes about 30 seconds for loan approval. After that, you can find money in your account within 15 minutes.
Take a step closer to your dream home
Apply NowChristmas calls for a home overhaul. If you have been delaying revamping that chapped wall until now, this is the best time to go for it. Christmas calls for an extended celebration with your loved ones in an appealing setting. It is time to add an inviting vibe to dull spaces.
Were you holding back owing to over-budget home improvement packages? Guess what! You could save 40% more on Christmas loans for home improvement by applying today. Over 1300 customers have contacted us already! You could be the next. It is a limited time offer. You can apply for this as you read comfortably from your place.
Just do following things and you will be eligible to get the cheapest home improvement loans from us:
One often has to give up on the home renovation plans due to credit issues and limitations. But in situations like weddings, welcoming a baby, or starting your new life, waiting is painful.
Undoubtedly, having a good credit score may fetch you loans for home renovation at better interest rates. Individuals with less-than-ideal credit scores can fetch lower interest rates with secured loans. If your property is on the mortgage, securing it for home improvement loans would make it a second-charge home improvement. In this way, you can qualify for a higher amount.
If you lack a tangible asset to pledge or fear losing it, you could apply for unsecured home improvement loans. You know that leading home improvement loan providers help arrange finance despite low credit scores.
The lenders prefer current financial behavior instead of backlogs to provide bad credit home improvement loans. It helps determine the affordability. Around 75% of individuals give up on their renovation dreams. With us, you do not have to.
Check your eligibility if you are worried about facing rejection owing to dampened credit history. It would not affect the credit score. Enter the amount you wish to borrow. You will get a personalized quotation for loans for home improvement with bad credit.
Have you been tired of googling Halifax home improvement loans? Then you may find a better solution to your problem here.
You must have encountered numerous struggles while searching for loans for home improvement. Certain situations call for immediate action. A long and never-ending loan approval process may prove exhausting.
A delay in renovation hampers the overall plan. The lenders here help customers get the needed assistance in a limited timeframe. Quickly check why you must jump to EasyLoansUK for loans for home improvement.
Quick paperwork
Ditch the endless wait and get loans for home renovation in a flash. We only ask for specific personal information during the application process. This may include name, email id, mortgage information (if any), and loan amount needed. The overall process takes 15 minutes to loan approval.
Responsible Lending
Around 70% of individuals defaulted by borrowing the wrong amount. Apart from budget, it affects the credit score. To avoid this, we conduct authoritative affordability checks. These checks help one identify the right amount to borrow. It does not impact the credit score.
Repayment holidays
When individuals encounter financial distress and cannot continue payments, they can leverage repayment holidays. In this, one can hold payments until the situation improves. Do not worry about interest accruing, as we do not charge any until then. It is applicable only in the case of fixed interest rates.
Flexibility to revise repayment options
Defaulting on secured loans for home improvements overturns the financial cushion. Losing the equity pledged to the lender is a nightmare. As the best home improvement lenders, we work with the borrower. We grant expert advice to safeguard the property. Lenders do not claim the property right away. Instead, provide an opportunity for the borrower to take his asset back.
Thus, contact the best experts out there for any home improvement purpose! We are happy to help!
Here are some questions that customers ask. It may help your curiosities.
You can apply for a home improvement loan if: