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Hello. I’ve recently bought a property at auction with the intention of buying-to-sell. As well as a general refurbishment a surveyor has recommended adding value to the house by building a single-storey extension. The property has come with planning permission so the only thing left that I’ll need is a £30,000 loan. My bank won’t be able to lend me this amount but I’ve heard that you can provide home improvement finance for up to £100k. Is this true and how much could I expect to repay per month with an excellent credit score?

Hi there, Harriet!

There’s a reason properties with planning permission are in such high demand. By adding a single-storey extension to your home, you can increase the property’s value by around 11%!

At Pegasus Personal Finance, we can arrange home improvement loans from £5,000 to £100,000 – so if you need a £30,000 loan for your extension, we can help.

Your excellent credit score means you’ll be entitled to a Representative APR rate of 9.9%. How quickly you repay your loan is entirely up to you, as available terms for home improvement loans range from 2 to 10 years!

Our personal loan calculator is a handy online tool you can use to work out how much you can afford to borrow, and what interest you’ll need to pay on top. Take a look and you’ll see that repaying your £30,000 loan over 2 years will mean monthly instalments of £1,396.65 – while spreading these payments over a period of 5 years will lower the amount to just £634.15 per month.

Why not talk through your options with a member of our knowledgeable team? They’ll be able to help you to settle on an affordable repayment plan – and you can give them a call now on 0800 266 2882.

Alternatively, if you’re ready to get started, you can apply for a home improvement loan below.

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