Double Glazed Windows, Garden Landscaping, House Repair and New Furnishings Are Easier Than You Think with a Secured Home Improvement Loan

Everyone loves improving their home. Whether you plan to sell you property and you are looking to maximise its sale value or whether you want to make your home a nicer place to live in, there are dozens of home improvement projects that you can undertake.

However, home improvements can be expensive. It’s not unusual for the cost of double glazed windows, new furnishings or garden landscaping to run into several thousand pounds. So, one of your major considerations before undertaking any home redecoration will be how you go about funding the work.

One of the most popular ways of raising the cash for a home improvement programme is via a secured home improvement loan.

How Does a Secured Home Improvement Loan Work?

In order to be eligible for a secured home improvement loan you must own your own home and have some equity in the property. A lender will then let you borrow a sum of cash based on:

• The value of your home and the amount of equity that you have
• Your income and outgoings
• Your credit rating

As the loan is secured on your home, the lender takes a legal interest in the property. You therefore run the risk of losing your home if you don’t keep up repayments on a secured loan.

Home Improvements

There are lots of ways of improving the look, value and saleability of your home. For example, double glazed windows are a great way of improving your home’s insulation and reducing your energy bills. However, the cost of double glazing isn’t cheap. Consumer magazine Which reports that it is not unusual to pay between £350 and £1,000 per window including fixtures and fittings, dependent on the size of your windows.

Garden landscaping is another popular way of improving your home. Even if you have a small garden the cost of landscaping can run into several thousand pounds by the time paving, raised beds and electrics are taken into account. Larger gardens can cost significantly more.

When undertaking home improvements it is always worth bearing in mind that whilst some improvements may make your home more attractive to potential buyers, they won’t necessarily add significant value. For example, figures from the bank Santander in 2009 showed that spending an average £22,600 on a loft conversion adds just £13,038 to the value of your home. Similarly, spending £7,700 on a bathroom adds just £2,892.

House Repair

As well as improving your home, there are times when items simply need repair or replacement. Whether it’s a new boiler, replacement floorboards, new furnishings such as carpets and curtains or a lick of paint, the cost of house repair jobs can also mount up quickly.

A secured home improvement loan is ideal for financing all manner of house repair work. Not only does a loan allow you to borrow the money you need to conclude the house repair work in the first place, but the work also potentially increases the value and saleability of your property.

So, whether you are planning garden landscaping or new double glazed windows, make sure you don’t commit to raising the cash you need without considering a secured home improvement loan.

To use your home to raise money at a competitive APR, please fill this homeowner loan form.