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Best Home Improvement Loans

Home improvements are an excellent way to make your house more livable and increase the value of your property. However, they can also be a significant financial commitment if you don’t have enough saved up.

A home improvement loan can be an excellent way to finance these projects. But it’s always wise to shop around for the best deal available.

1. TSB

TSB is one of the UK’s most sought-after lenders, providing a range of financial services. They also provide home improvement loans for both homeowners and businesses alike.

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At present, there are two types of home improvement loans: a base rate and fixed rate. The base rate can be tailored to fit your long-term requirements.

TSB’s fixed rates make budgeting much simpler, as you’ll know exactly how much your monthly repayments will be throughout the loan term. This way, you can better plan for expenses associated with your home improvement project.

2. Virgin

If you’re searching for a home loan with an excellent reputation, Virgin is one of the leading options. They provide numerous advantages like frequent flyer points and flexible credit policies.

They offer home emergency insurance at an attractive price, which can help cover any unexpected costs if your house experiences damage or fire. Unfortunately, they do not have a branch network and only provide support via phone or online.

The primary drawback of their home loans is that they often attract an abundance of applicants, which can bog down the processing team and cause internal issues. Furthermore, due to their credit policy, they cannot assist people with poor or discharged bankruptcies due to its limitations.

3. Sainsbury Bank

Sainsbury Bank is an unsecured lender, meaning you don’t need to put your home up as collateral for the loan. This gives you more borrowing power than other providers while paying less interest.

Sainsbury’s Bank offers a range of credit cards, loans, insurance and mortgages. Furthermore, it is an official Nectar partner, meaning you can earn points for every purchase made with them.

The lender also offers a selection of flexible home improvement loans to assist customers with funding improvements to their property. These are designed to enable borrowers to tap into some of their equity for improvements such as new windows or boiler replacement.

4. Natwest

NatWest, the UK’s largest bank, offers a selection of home improvement loans from unsecured personal finance to secured mortgages. While these can help you borrow up to a certain percentage of your property’s value, they come with higher interest rates than their unsecured equivalents.

The lender provides some compelling features, such as cash incentives. These include a two per cent reward on council tax, mobile, TV, water and broadband bills.

The company is one of the few major banks that offers a business account, making it easier for small businesses to switch from another bank. Unlike other lenders, there’s no minimum balance required to open an account and they even provide current account switch services that handle the move for you.

5. Halifax

Home improvement loans are an ideal way to finance renovations or repairs on your home. They’re better than mortgages since they provide flexible terms and don’t require you to put up your property as security, helping you keep more of what you earn.

Prior to choosing which home improvement loan is ideal for you, it’s essential to understand how different loans compare. Our comparison service can assist in finding the best loan tailored towards your individual requirements.

Halifax is a top UK lender that provides various loan types for different needs. They also have various savings accounts, such as children’s or support mortgage accounts, to suit any financial situation.

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