Home Improvement Loans

How to use a home improvement loan...

So, the endless stream of home improvement shows has finally spurred you into action, but now you have no money to get your new ideas of the ground.

If this is the case, why not take out a home improvement loan? The money could be well spent, as the end result of your project could add £'s to your property value.

Making the most of your loan:

Plan wisely
It is all too easy to get carried away and before you realise it you have spent way over budget and will never be able to regain the money.

Ensure that before you begin any project, you create a thorough plan that details:

• Calculated costs for materials
• Estimated cost of the work
• The expected increase in property value once the work is completed

N.B It may be helpful to get quotes from builders, estate agents etc to help calculate figures more accurately.

Once you have this plan drawn up you can be surer how much you can afford to borrow/repay.

Things to watch out for:

Dealer finance
Billions of pounds a year are wasted on unnecessary interest paid to retailers for kitchen, conservatories and bathrooms to name but a few.

It is an easy trap to fall into, as the payment plan is right in front of you at the time of purchase, making it appear all the more lucrative.

Payment packages that retailers offer are never as good as some of the home improvement loans currently available. The average APR for dealer finance is often double the rate that some of the most competitive lenders offer.

Thankfully, you are in the right place to avoid the trap. Check out our home improvement loan comparison page to make sure you get the most out of your property improvements loan.

Compare home improvement loans