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Hello Pegasus. I currently have a small swimming pool in my back garden, however I’d love to build a conservatory over the existing pool to create an indoor pool house. I’ve got some savings set aside for this extension but I’ve worked out that I’d still need a £31,000 loan. I have a good credit score but I’ve heard that the bank will still only lend a maximum of £25,000. How much could I borrow from you? Ideally I’d want to be paid up in about 5 years, but how much would this cost me every month?

Thank you for getting in touch, Martin.

Many banks do offer a maximum of £25,000 for a large personal loan – but that’s not the case at Pegasus Personal Finance! For conservatory builds, we can offer competitive finance deals between £5,000 and £150,000. You’ll be able to borrow that amount on your own terms, too – just let us know how long you’d like to repay your loan. Options ranging from 2 to 20 years.

We’re able to provide home improvement loans for applicants with a variety of financial histories – but with your score, the Representative APR rate for your £31,000 loan will be a competitive 13.9%! The loan term will determine the size of your monthly installments – but if you’re looking to pay off the full finance deal in 5 years, you could pay as little as £707.44. If you’re in the position to do so, it could be beneficial to repay the full balance sooner rather than later – and with monthly repayments of £1,494.94, in 2 years, you could have fully repaid your loan!

With our personal loan calculator, you can work out how much you’ll be able to afford to borrow, and how long you’d need to repay the full amount. When you’ve settled on a deal that suits your circumstances, all that’s left to do is apply online.

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