Savings or phased work
Using available savings or completing work in stages avoids interest, but consider the effect on emergency funds and whether delays could change costs.
Home improvement finance
Build the budget before you borrow.
From repairs and a new kitchen to an extension or loft conversion, the starting point is a realistic plan. Then you can compare ways to fund the work—including whether secured borrowing is appropriate for you.
An enquiry is not a guarantee that a loan will be available. Any lending is subject to assessment.
Important information
A secured loan puts your property at risk.
Think carefully before adding a legal charge to your home. A longer term may reduce the monthly payment but can increase the amount of interest paid overall.
Your home may be repossessed if you do not keep up repayments on a loan secured against it.Plan before finance
Turn the idea into a costed scope.
The amount you think you need should come from the project, not the maximum a lender might offer. Written detail also makes quotations easier to compare.
- 01
Define the work
Separate essential repairs from optional improvements and be clear about the finish, fixtures and materials expected.
- 02
Compare written quotations
Check exclusions, tax, deposits, staged payments and who is responsible for waste, decoration or making good.
- 03
Check permissions and expertise
Depending on the work, planning permission, building regulations, surveys, design or specialist advice may add cost and time.
- 04
Allow for the unexpected
Changes can emerge after work starts. Decide what contingency you can afford without relying on further credit.
Compare the routes
The right comparison is the whole cost.
Different options affect your home, existing mortgage and monthly budget in different ways. Availability and suitability depend on your circumstances.
Unsecured borrowing
A personal loan does not use your home as security. Compare its rate, fees, term, monthly payment and total repayable with secured options.
Further advance
Extra borrowing from your existing mortgage provider may have a separate rate or terms. Ask what checks, fees and changes to your mortgage apply.
Remortgaging
A new mortgage repays the current one and includes the extra borrowing. Review the rate on the whole balance, fees and any early repayment charge.
Secured homeowner loan
This normally runs alongside your first mortgage as a second-charge loan. You make a separate payment and your property secures both commitments.
Understand the secured routeSecured homeowner borrowing
Your mortgage stays; another commitment is added.
Our home improvement loan is borrowing secured against the value of your property. Where there is already a mortgage, the new legal charge will normally rank behind it.
- The loan has its own interest rate, term and repayment.
- Available equity is relevant, but it does not replace affordability and credit checks.
- The first mortgage and homeowner loan both remain payable.
- Missing payments can put the property at risk.
Affordability and credit
Test the payment against real life.
A lender will consider the application, but you should also test the commitment yourself. Think beyond today’s building quote to the full borrowing term.
Monthly resilience
Set the proposed payment alongside your mortgage, household bills, other credit and regular spending. Consider how changes in income or costs would affect it.
Credit assessment
Credit history may be used alongside income, expenditure, existing commitments, property information and the loan purpose. Approval is never automatic.
Rate, APRC and fees
Review the interest basis, APRC, all fees and whether fees are paid separately or added to the loan and attract interest.
Term and total repayable
A smaller monthly repayment over longer can cost more overall. Compare the total amount repayable and any early repayment terms.
Possible project purposes
Borrow for the work you have costed—not an assumed return.
Projects may include an additional bedroom, kitchen modernisation, outdoor improvements, repairs, accessibility changes or energy-efficiency work. An improvement is not guaranteed to increase your property’s value by its cost.
Repair & maintain
Roofing, damp work, windows or other planned property repairs.
Rework a space
A kitchen, bathroom or layout project with a defined specification.
Add usable room
An extension or loft conversion, subject to appropriate permissions and professional advice.
Adapt the home
Accessibility, comfort or energy-efficiency changes based on household needs.
Before an enquiry
Bring the project and household picture together.
You do not need to decide alone from a headline figure. Start with enough information to discuss the purpose, affordability and alternatives clearly.
- 01
Project amountWritten quotations, inclusions, expected payment stages and contingency.
- 02
Property positionAn estimate of value and details of mortgages or other lending already secured on it.
- 03
Household financesIncome, normal spending, existing repayments and foreseeable changes.
- 04
Comparison questionsRate, APRC, fees, term, total repayable, early repayment and what happens if circumstances change.
Questions, answered carefully
Home improvement loan FAQs
These answers explain the basics. Terms and availability depend on an individual assessment and the particular agreement offered.
What is a secured home improvement loan?
It is a homeowner loan secured against your property by a legal charge. If you already have a mortgage, it will usually be a separate second-charge loan with its own rate, term and monthly payment.
Is this the same as remortgaging?
No. Remortgaging replaces your existing mortgage with a new mortgage. A second-charge homeowner loan normally runs alongside the existing mortgage, while a further advance is extra borrowing from your current mortgage lender.
What should be included in a renovation budget?
Include the agreed work, materials, professional or permission costs where relevant, finishing work and a contingency for changes. Use written quotations and check what is excluded before deciding how much you may need.
Does owning a home mean I can borrow?
No. Property ownership or available equity does not guarantee a loan. Any application is subject to assessment, including affordability, credit information, the property and the individual circumstances.
A considered next step
Ready to discuss a costed project?
Share what the work is for and the amount you have arrived at. Our team will review your enquiry and respond when the relevant information is available.