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Whether you are a first time borrower or a returning customer, Loan Broker is always your trusted friend.

Here is some free professional advice to help secure and enhance your financial future.

Home improvement Loans

Planning for Renovation: Consider Homeowner Loans

A home is often in need of small repairs, renovations, and multiple fixes. This is the story of every home. With aging and the gradual passage of time, your home may deserve some of these fixes so that you can fall in love with it all over once again.

 Find a house you like and create a home you love.”

However, renovation can be an expensive affair, if you do not plan everything properly. Manipulating and analyzing the current demands of your home are the 2 best tools for home renovation.

Adding a little style to your home will breathe a new life into it. A few home improvements are quite easy to implement, while some may demand monetary attention. If you have a savings or an emergency fund, you can always use that for your home improvement. Otherwise, you can consider a few other alternatives such as a homeowner loan. We will discuss these loans later in this blog.

What is Homeowner Loan?

Homeowner loans are considered to be one of the tools that can be used to finance everything- home renovation, boiler replacement, landscaping, etc. Homeowners use the loan to get access to funds they need- to fix their home, add style, renovate, and redesign. The loan can be helpful to people aspiring to modify their homes and live there the way they always wanted. It’s told that a renovated or remodeled home helps one in refocusing.

How can you obtain a Homeowner Loan?

Homeowner loans can be easily acquired by weighing options and applying for the credit with a regulated lender, who can offer affordable deals as per your requirements. Analyze, the minimum and maximum loan amounts provided by each prospective lender, as this may play a major role in building your decision.

Now, you don’t have to stop dreaming about your dream house as Loan Broker can help you find the right lenders, who may fulfill your requirements. Why let us do the work for you? We will pair your requirements with all the best deals offered by the lenders to ensure you get the best deal. Our service is free, so why not take advantage!


When Should I Consider a Homeowner Loan?

  • If you have a poor credit history – Homeowner loans can be easy to access, which make them a good option for those with poor credit histories.
  • It helps to consolidate your existing debts by repaying your old debts with a loan at a lower interest rate, which reduces monthly repayments and the amount of interest that you pay.

Below is a chart of people with different age groups and ethnicity who are homeowners

Location: England

Time Period: 2015/2016 and 2016/17

Series 1: White British

Series 2:Other than white British

Homeowner Loans

Source: English Housing Survey 2017-18

The data suggest- maximum people have their own home by the age of 45-50. Also, changing the pre-designed structure, interiors and gardens is something that most of us look forward to. Because after all, we own a home and need customizations to suit our tastes.

If you are planning to renovate your house, but don’t know how to start? Consider inviting an expert to interpret the changes you need. Homeowner loans (also available for Poor Credits) make it likely for people to borrow a significant amount to improve their property, which gives a boost to the overall value of your property.

“Your home should feel the story of who you are, and be a collection of what you love”

Nate Berkus

What is Home Improvement Loan?             

Home Improvement Loans are provided to people to help them renovate or innovate their homes. However, the purpose of this loan is not limited, one can use the loan according to their requirements.

How Do Home Improvement Loans Work?

These loans are specially designed to help people fund the expenses incurred on home improvement. The loans are used to fund unavoidable renovations. Modifications help in restoring the life of the house, increasing its monetary value. In the UK lenders provide loans at favorable interest rates to people who are willing to renovate their abodes. The loan works the same way other loans work, in spite of the fact, your credit history doesn’t become a hurdle.

Advantages of Homeowner Loan

  • Flexibility to use the Loan
    Home Improvement Loans help in renovations and modifications in the house. The borrower can use to extend the house or to perform some renovation from a safety perspective. The loan amount may vary depending upon the purpose.
  • Adds Value To The Property
    Even though you may not thinking of selling your home at the moment, it will be helpful to add some more value while the opportunity is still cost-effective. Renovating your home presents your home as good as new. This is particularly valuable during a time when the property prices are on growth.
  • To Fix Safety Issues
    Sometimes home improvement is not the choice but is an obligation for the security of the people living in it. Electrical glitches, security problems, cracks and leakages in parts of the house are barriers that limit the security. It can harm the people living in the house. Hence, to avoid such situations, it is crucial fixing the concerns.

Disadvantages of Homeowner Loan

  • Risking the Credit history
    One must take Home Improvement Loans only when there is some urgent renovation. Default in repaying can affect your credit score negatively. Don’t borrow more than you require.

“There is nothing more important than a safe and secure Home”

                                                                             -Rosaylnn Carter

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Representative APR Example

The rate you are offered will depend on your individual circumstances.

All loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount.

Representative APR Example: On an assumed loan amount of £2,600.00 over 36 months. Rate of interest 41% per annum (fixed). Representative 49.7% APR. Total amount payable £4,557.89 of which £1,957.89 is interest. 35 monthly repayments of £126.61 and a final payment of £126.54


Warning: Late repayment can cause you serious money problems. For more information, go to MONEYADVICESERVICE.ORG.UK
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