Adding more space is one of the top ways to increase the value of your home. By building an extension, converting the loft into another bedroom or an office or adding a conservatory, you can give a boost to the price of your home. If you have several bedrooms, creating another bathroom could also give you a good return on the investment and an increased level of comfort also. A survey by a reputed financial company recently revealed that the most popular home improvements were redecorating carried out by 66% of respondents, gardening (41%), new furnishings (30%), new wooden or laminated flooring (25%) and adding a new bathroom (24%).
Many home improvement projects can cost more than you anticipate, forcing you to borrow from the loan market. If you opt for an instalment based loan then it's easy to get carried away as you are assured that the repayment money will be available to you. Some lenders also cap your borrowing. If your project is expensive then you might be left short of money.
If you take out an exclusive home improvement loan then you should ensure that the loan amount is paid within the pre-agreed time period. To do this, you have to manage your budget much more effectively and access your cash at the time of requirement only. In case you spend less than your budget, there wont arise any need to borrow more money and pay more interest. And, if you go over budget, then you'll still have ready access to the money you need. You can link your home improvement loan with an existing mortgage package. It will help you in lowering interest rate and may be able to release equity to help fund your project.
Homeowner loans for renovation purposes combine great rates with refreshing levels of customer service. Getting a quote for these loans is easy and hassle-free, embodying clear instructions. You can apply for these loans online and get an instant decision. At the time of loan application, you have to choose how much you want to borrow - between 5,000 and 250,000 - and how long you want to take to repay your loan - anytime between 5 and 25 years.
The interest rates on home improvement loans are generally fixed. So, your repayments remain the same throughout the loan period, irrespective of the fluctuations in the UK financial market. Some lenders offer the opportunity of deferred payments for the first three months to make the loan plan more affordable.
37FAbout The Author: For more information about home renovation loans and home owner loan. Please visit our website http://www.longdogfinance.co.uk/
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