A home improvement loan allows you to borrow a large sum of money for major renovations on your property. Typically, with a home improvement loan, interest rates are lower and you can borrow large amounts as it’s secured against your property.

If you have a good credit rating and can afford the monthly repayments, it’s definitely a good option. Rates of interest are substantially lower than credit cards or personal loans, so you don’t end up paying too much interest on top of the original borrowing amount.

It depends on the work you’re having done, and the lender. Some lenders do want you to provide a quote, especially if you are doing extensive structural work. Having a quote, or even just a breakdown of the costs, can speed up the process – which means you can get the funds quicker.

It depends on the work you’re having done, and the lender. Some lenders do want you to provide a quote, especially if you are doing extensive structural work. Having a quote, or even just a breakdown of the costs, can speed up the process – which means you can get the funds quicker.