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Home Improvement Loan
A 'home improvement' loan, also known as a 'home' loan, is a loan that is secured on your UK property. As the home owner, it frees you up to do whatever improvements you want on your property.
With a home improvement loan you can often borrow from £7,500 to £75,000 with relatively low monthly repayments compared with other types of loan. Home improvement loans secured on property can be repaid over a period of between 5 years and 25 years.
A home improvement loan may be the answer if you want to raise a large amount, if you are having problems getting an unsecured loan, or if you have a poor credit history. You may be able to get a bad credit home improvement loan even when you have been turned down for an unsecured loan.
With a home improvement loan, it might be possible to afford the extension, new kitchen, bathroom, conservatory, landscaped garden, redecoration or other upgrade to your home, so you can add value to your property and save moving costs too.
As with any type of mortgage or loan that is secured on your property, you need to think carefully before making a decision and if you are at all unsure about anything it is worth thinking about getting some advice from a mortgage broker or other property professional.
For further information about home loans click here for independent advice and quotation.
NOTICE: A mortgage is a loan that is secured on your home and you also need to think carefully before securing any other debts against your home. Your home could be taken away by the lender and sold if you do not keep up the repayments on the mortgage or any other debt secured on it - if you are in any doubt, seek independent professional advice. These notes are offered as a general guide only and do not constitute financial or legal advice.
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