What is a home improvement loan?
A home improvement loan is a personal loan that’s used to update, improve and renovate your property. Repayments can be spread over a period of time that works for you. Many people find this type of loan can help cover the cost of larger refurbishment jobs.
Possible lenders offer a choice of secured or unsecured renovation loans, providing a choice for your personal situation. However, it’s important to remember that there are risks associated with both. Secured loans will offer lower interest rates, but your home will be at risk if you fail to meet repayments. And while unsecured loans are not secured against your assets, lenders can start collection or court action if you fail to pay.