Home Improvement Loans UK
Use your house to pay for its own improvements
With home improvement loans UK customers can benefit from the equity in their property, which is the difference between the value of your home and the outstanding balance of your mortgage. You can borrow a percentage of this equity to finance home improvements such as double glazing or even redecorating.
To get home improvement loans UK customers need to have equity, which is the difference between the value of your house and the amount still outstanding on your mortgage (the dreaded negative equity is when your house is worth less than the balance of your mortgage, but thankfully it's fairly rare these days). Lenders will then give you a percentage of the equity to pay for home improvements such as a new conservatory, a new bathroom or general redecorating.
For home improvement loans UK lenders will offer very low rates, but they won't necessarily approve every application. In particular, lenders don't like it if you already have other loans secured on your property, because that makes the loan riskier for the lender. However if your only secured loan is your mortgage and you don't have a history of late payments or financial disasters, you'll find a huge range of home improvement loans to choose from at very competitive interest rates.
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