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Home Improvements with Personal Loans Guide 2013


People looking to improve their homes usually start off small, and after a room is underway, they really get into it, wanting to improve other rooms to match. Kitchens and bathrooms can mount up and add a considerable sum to the bill, and with it being January some may be short from Christmas or the sales, unable to stretch to the improvements they would really like. An easy way of finding the extra funds is to secure a personal loan. This is the most popular way of borrowing amounts in the £5,000 to £25,000 margin.

By law you have to be 18 and over to apply, and some lenders even require a minimum age of 21 to qualify.



APR (Annual Percentage Rates) usually range from around 6% to 13% – this can make a massive difference on the amount you pay back overall.

If you approach a lender, it is vital that you know what type of loan you are agreeing to – is it an ‘unsecured’ loan or a ‘secured’ loan? The secured loan means you have agreed to secure the money on your home to pay it off should fail to make the payments. The unsecured loan is what you must ensure you are agreeing to, as you don’t have to put up collateral at all.

Lenders & Competitive Rates

Any lenders quoting really competitive rates should be approached with caution, as they are likely to be trying to tempt and lure you in. Always be wary of any hidden terms, such as cover for sickness or unemployment – if overlooked, you’ll see a substantial difference in repayment figures, probably higher than a lender with a higher quote and no hidden terms.

Bank Loans


I a loan from a Bank will be your best bet to get the best rate of interest and most secure personal loan. They will be very used to helping people with property renovations and will have experienced staff to help guide you. Banks such as Clydesdale Bank will be happy to help see what fiance is available for your projects.

The most important aspect into looking for a loan is research – go online and compare lenders. Most lenders have their own online calculators, and their FAQ pages should help you answer any questions you may have.

Don’t scrimp on the most important place in you life; transform your home into the haven you want it to be.

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