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How a Secured Homeowner Loan Can Get You the Attic, Garage, Conservatory or Loft Conversion of Your Dreams

Are you looking to increase the living space in your home?

In a difficult financial climate it can be difficult to move house. Property prices often mean it is simply impossible to sell your property whilst the lack of mortgage finance can also be a barrier to moving.

As a result, many people are instead looking to improving their home. One of the most popular ways to increase the living space in your home is to convert unused space to a living room or bedroom. Attic, garage or loft conversions can significantly increase your living space, as can adding a conservatory.

Increase the Value of Your Home with Loft or Attic Conversions

Adding an extra bedroom to your home is one of the best ways to increase the value of your property. As Michael Holmes from the National Home Improvement Show recently told The Independent: "Adding an extra bedroom is one of the most effective ways to improve the value to your property. The most cost-effective route is typically to convert the loft, followed by an extension, or converting the garage or even a cellar.

“Another route in larger older houses is to rework the existing layout to turn a large room into two smaller bedrooms; you could be looking at an extra 5 to 15 per cent on the value of the property."

Garage Conversions

Another way to increase the living space in your home is to convert your garage. If you don’t use your garage to house your car, converting an integrated garage into a living room, study, office or games room can significantly increase your living space.

Garage conversions are typically much less upheaval and take less time than basement or attic conversions. They can also help you clear up the clutter which may have accumulated over time in your garage.

Using a Secured Homeowner Loan to Fund Your Conversions

Significant home improvements such as attic and garage conversions don’t come cheap. The Times reported in 2008 that the average cost of a loft conversion was somewhere between £20,000 and £30,000. Conservatories can cost upwards of £5,000.

So, if you are planning to improve your home with a conversion, one of your challenges will be how to fund the work.

One of the most popular ways that people fund loft and attic conversions is by using a secured homeowner loan. A secured home renovation loan lets you use the equity in your home to borrow the amount you need to undertake the building work. As loft, garage and attic conversions typically increase the value of your property, a secured homeowner loan can be a sensible way of borrowing the cost of the work.

A secured homeowner loan will generally be dependent on:

  • The amount of equity in your home
  • What building work you plan to undertake and the ‘when finished’ valuation of your home
  • Your income and outgoings
  • Your credit history

Whether you want to build a conservatory or convert your garage or loft, a secured homeowner loan could be the answer to funding the work. And, even if you have a less than perfect credit record or you are self-employed, a secured loan could well help you.

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

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