Simon Nicholson

Expertly compared by Simon Nicholson

Products Updated May 23, 2018

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 accepted:

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

16 providers expertly compared:

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All credit types
Rated 5.0/ 5

Smart Money Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£3,000 - £1,000,000

Representative APRC
From 3.9%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

Award winning broker of the year Smart Money have made it to the top of our list as our No 1 recommended provider for homeowner and buy to let loans. They are independent and have access to the major lenders in the market. All quotes are free and without any obligation.

16 providers expertly compared:

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

Paragon Bank

Loan Amount
£20,000 - £500,000

Representative APRC
3.9 - 8.8%

Loan Term
5 - 25 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

Second charge mortgages for homeowners in England, Wales and Mainland Scotland. We work hard to make sure we have a wide range of loans to meet our customers' needs. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Together Money

Loan Amount
£3,000 - £1,000,000

Representative APRC
6.65%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 77.5%

If you need to raise funds, for example, to make home improvements or get on top of your debts, and you have existing equity in your home, a secured loan could be the right option. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Optimum Credit

Loan Amount
£5,000 - £500,000

Representative APRC
4%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

We offer a straightforward, customer friendly approach, both during your application process and after completion of your second charge mortgage. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Masthaven Bank

Loan Amount
£10,000 - £500,000

Representative APRC
5.9 - 9.8%

Loan Term
5 - 35 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 75%

We were the first new bank to be awarded a banking licence in 2016. However, we’ve been providing a flexible and personalised approach to secured lending since 2004. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Prestige Finance

Loan Amount
£10,000 - £2,500,000

Representative APRC
5.9 - 11.1%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 90%

Prestige Finance has been providing loans for over 30 years to UK residents and is a specialist in providing second charge loans. Prestige Finance is a wholly owned subsidiary of OneSavings Bank Plc. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Shawbrook Bank

Loan Amount
£10,000 - £500,000

Representative APRC
5.9 - 13.6%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 90%

If you’re paying out for a number of different loans or credit cards, a debt consolidation loan from Shawbrook Bank could save you money every month in interest. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

United Trust Bank

Loan Amount
£10,000 - £125,000

Representative APRC
5.9 - 10.1%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to let

Status
Homeowners Only
Max LTV 85%

United Trust Bank’s highly skilled and experienced specialised mortgage team offers innovative lending products through a panel of approved introducers. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

Learn More Available via broker only
Poor Credit
Rated 4/ 5

Spring Finance

Loan Amount
£10,000 - £150,000

Representative APRC
Enquire%

Loan Term
3 - 35 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 60%

We are a specialist provider of residential Second Charge mortgages lending to customers who are unable to obtain finance from traditional high street lenders. Get a quote today for a personal illustration from our award winning broker.

16 providers expertly compared:

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

Central Trust

Loan Amount
£3,000 - £250,000

Representative APRC
11.4 - 12.6%

Loan Term
3 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 75%

We’re an independently owned specialist secured loan lender in the UK and are part of the Norfolk Capital Group of companies that have been providing secured loans since 1988. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Clearly Loans

Loan Amount
£5,000 - £100,000

Representative APRC
11.3 - 21.2%

Loan Term
1 - 20 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 100%

We aim to make the process of taking out a secured loan as clear and transparent as possible. All our loans are secured on residential property by way of a second charge. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Norton Finance

Loan Amount
£3,000 - £70,000

Representative APRC
9.1 - 12.3%

Loan Term
1 - 20 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 75%

Borrow from £3,000 to £500,000 over 1 to 25 years. We’ll find the most affordable rates to suit you and give you a no-obligation quote that won’t show up on your credit report. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

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

Step One Finance

Loan Amount
£5,000 - £500,000

Representative APRC
9.5 - 22.9%

Loan Term
5 - 30 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

Our homeowner loan products are available to qualifying homeowners and owners of Buy-to-Let properties in England, Scotland and Wales with loan amounts available up to £150,000. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

Learn More Available via broker only
All credit types
Rated 5.0/ 5

1st Stop Homeloans

Loan Amount
£5,000 - £50,000

Representative APRC
22.83%%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 70%

Here at 1st Stop Home Loans we offer secured loans from £1,500 to £50,000 (subject to your personal circumstances) to new and existing customers. Get a quote today for a personal illustration from our award winning broker.

Representative Example

16 providers expertly compared:

Learn More Available via broker only
All credit types
Rated 5.0/ 5

West One

Loan Amount
£10,000 - £500,000

Representative APRC
5.49%

Loan Term
3 - 25 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 85%

West One offers an extensive range of second charge mortgage solutions that can be secured on buy-to-let properties, including unregulated buy-to-lets as well as regulated consumer buy-to-lets. Get a quote today for a personal illustration from our award winning broker.

16 providers expertly compared:

Learn More Available via broker only
All credit types
Rated 5.0/ 5

Evolution Money

Loan Amount
£1,000 - £20,000

Representative APRC
31.71%

Loan Term
1 - 15 years

Loan Type
Residential
& Buy to Let

Status
Homeowners Only
Max LTV 95%

We won’t rely on automated credit scores. At Evolution Money, people take the decisions and they look at you, not your credit history or the amount of equity in your home. Get a quote today for a personal illustration from our award winning broker.

Representative Example

>> 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.

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 27 votes

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

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