Simon Nicholson

Expertly compared by Simon Nicholson

Products Updated January 8, 2020

Secured Home Improvement Loans

If you wish to borrow money for home improvements and are a homeowner then our secured loan experts have access to a wide range of lenders and deals to choose from. They can help whatever your credit type or personal circumstances. They can compare the market to find you the cheapest rates available.

Homeowners - Our award winning experts can compare the cheapest loan deals from over 19 approved Lenders. All credit types considered:

Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on a loan or any other debt secured on it.

Questions? Call us on 0161 820 8099

1 providers expertly compared:

Learn More Available via broker only
All credit types
Rated 4.8/ 5

Lending Expert

Loan Amount
£10,000 - £500,000

Representative APRC
%

Loan Term
3 - 33 years

Loan Type
Secured & Homeowner Loans

Status
Homeowners & Tenants
Max LTV 100

Our expert team can compare over 19 secured loan lenders from across the market to find you the perfect loan. Our team are on hand 7 days a week to handle your loan enquiry from initial quoteation right through to when you receive your loan. Homeowner loans for any purpose including popular options such as debt consolidation, home improvements and buy to let properties. Solutions for bad credit applicants and the self employed. Request a quote to see how much you can borrow today.

Read our customer and visitor reviews for this product:
Rating: 4.6 / 5 with 31 votes
Good for secured loans
by Abdul R

Good service for secured loans with a full brokerage service. Good panel of lenders to suit most customers.

Found the right mortgage I was looking for
by Mrs Dale

Had a very positive experience using the mortgage pages. Thankyou.

>> FREE Secured Loan Quote From Our Experts At Smart Money

Our award winning experts at Smart Money can search and compare 19 lenders from the market to find you the cheapest and best deal to match your financing needs. Quotes and personal illustrations are free from their Cemap qualified advisors.

Finance home improvements through a secured loan

Secured loans are ideal for home improvements

Secured loans are ideal for home improvements

If you want to carry out some home improvements, such as building a conservatory, replacing your boiler and heating system, converting your loft, or other major works, you may be wondering how you are going to finance it. You have a couple of options open to you that you can consider with pros and cons to each one. One option is that of taking out a secured loan against your home and this is the option that will be discussed here. Your other options include unsecured personal loans, but you may find that they are more difficult to get approval for if you need a large loan repaid over a longer period.

Loan calculator – how much will it cost?

This calculator will give you an idea of costs. The exact amount and APR payable will be provided from the lender subject to credit and affordability checks.

Your monthly payment will be:

£136.90

Interest on this loan will be:

£714

Annual Percentage Rate (APR):

3.7%

Total repaid will be:

£8,214

What does having a secured loan against your home mean?

Basically having a secured loan against your home means that you have used the value in your home as security for the lender so that they can provide you with a loan at a lower risk than if you took out an unsecured loan. However, although it is easier to get a secured loan than an unsecured loan for you, the borrower, you also take on more risk by doing so because should you fail to keep up your repayments you would be at risk of losing your home.

Know your options

Understand your options

Understand your options

In order for you to make a decision about which type of loan is going to be best for you, you should seek advice in a number of areas. You should know and understand your own financial situation and have a good idea of the level of repayments you would be able to make on a monthly basis. You should also factor in interest rate rises so that you know what your repayments could rise to in the future. If you have a good credit rating you will find that you have a lot more options available to you than if you have a poor credit score so bear this in mind when you are looking for loan options. If you have a bad credit rating you will find that you will be more successful in using a secured loan against your home because you will be perceived as being a much lower risk than for an unsecured loan. If you maintain your monthly repayments you could also use the loan to help increase your credit rating as you go.

The importance of home improvements

Taking out a loan for home improvements can be slightly different than for other purposes because you will be adding to the value of the property by carrying them out, therefore lenders are also likely to look more favourably on these loans than loans for other uses such as paying for weddings or buying a new car.

Questions? If you’re unsure which home improvement loan is right for you or you need some guidance on homeowner loans then speak to our experts on 0161 820 8099.
Their friendly advisors will be happy to discuss which options are available and to answer any questions you may have.

 

FAQ's

What type of home improvements can I use the loan for?

Loans of this type can be used for any type of home improvements such as:
- A new kitchen or bathroom
- Extensions
- A new driveway or garden
- Modernisation or refurbishment

I have a history of bad credit, will this cause me any issues?

No. There are a good selection of lenders willing to borrow to adverse credit customers. However, interest rates and fees will be higher and LTV options will also be restricted. Your broker will be able to advise given a quick search of the lender requirements.


Lending Expert is a credit broker and comparison website, we're not a lender.

We bring together the very best financial providers and products from across the market place.

Warning: Late repayment can cause you serious money problems.
For help, go to moneyadviceservice.org.uk