Home Improvement Loan

Looking for a home improvement loan?

Fluent Money

Loans For Any Purpose Borrow From £1,000 to £2.5m »

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4.45% APRLoans For Any Purpose
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9.1% APRC Representative

If you already have a mortgage and you are looking for additional finance, a home improvement loan may be an option. With a  home improvement loan (often referred to as a second charge mortgage) you can raise finance for any purpose. Reasons for a home improvement loan could include:

  • Home improvements
  • Loft or House extension
  • Repairing your roof or internal home repairs
  • Purchasing or improving a holiday home
The process for getting a home improvement loan (often known as a secured loan) is straightforward and we work with a specialist broker Fluent Money to help you get the best deal for your circumstances. They offer both unsecured and secured loan deal options.You can contact them FREE on 0800 084 019 or see below for a selection of market leading deals:
ProviderLoan AmountCredit HistoryRates FromTerm 
£1,000 to £2,500,000All Credit Histories Considered3.83%

APR

3 to 30 YearsGet Quotes >

Representative Example:9.10% APRC

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495). 

£10,000 to £50,000All Credit Histories Considered3.99%

APR

3 to 25 YearsGet Quotes >

Representative Example:9.10% APRC

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495).

£15,000 to £200,000All Credit Histories Considered4.49%

APR

3 to 25 YearsGet Quotes >

Representative Example:9.10% APRC

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495).

£20,000 to £100,000All Credit Histories Considered4.45%

APR

3 to 30 YearsGet Quotes >

Representative Example: 9.10% APRC

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495).

£10,000 to £50,000All Credit Histories Considered9.0%

APR

5 to 25 YearsGet Quotes >

Representative Example: 9.10% APRC

Representative example: Assumed borrowing of £18,000 over 120 months, with a fixed borrowing rate of 6.5% per annum for the first 60 months, followed by 60 months at the lender’s standard variable borrowing rate of 4.95% above Bank of England Base Rate. There would be 60 monthly instalments of £227.38 followed by 60 instalments of £221.71. Total amount payable £26,945.40 comprised of; loan amount (£18,000); interest (£6,920.40); Broker fee (£1,530); Lender fee (£495).

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

How do I get a Home Improvement Loan

A home improvement loan can be sourced either on a unsecured or secured basis. For an unsecured home improvement loan you will generally be restricted to borrowing up to £25,000 over a 5 year term. You can see current unsecured loan deals using the table above under the "loan selection" tab. Some lenders allow up to a 10 year term on an unsecured basis. On a secured or second charge mortgage basis you can borrow typically from 3 to 30 years with lenders offering products that allow you to borrow up to £500,000 (some will let you borrow more depending on your situation). The loan is secured on the property and is known as a second charge. Your main mortgage is known as a first charge loan. A residential second mortgage is ideal for people looking to release equity from their existing residential property. Finance can be raised quickly without affecting the existing mortgage.


Reasons for second charge finance:

 

  • Any loan purpose
  • Ideal if you want to protect your existing mortgage terms
  • Where you are restricted in raising finance through remortgaging because of your circumstances or existing lender's criteria that prevents further borrowing


It is important to remember that, if you take out a home improvement loan on a second charge mortgage basis on your property, you will be expected to make repayments on this as well as your first mortgage.  It is therefore important that you carefully consider the affordability of such a financial agreement.


Second mortgages are often referred to as home equity loans, homeowner loans or secured loans. If you are looking to find a particularly competitive deal on a second mortgage, we work with Fluent Money who are the UK's favourite loan broker. They will search their panel of lenders to find you the right loan so you don't have to.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

The above mortgage products highlighted on this website are available directly through lenders who will be able to provide further information about the product you are interested in. If you are unsure about what mortgage product is suitable for you, we suggest you speak to an independent mortgage broker