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Every bank I have come across seems to have a maximum personal loan of £25k. For my two-storey extension, I’ve been quoted costs of around £30 grand, meaning I’d ideally need a £32,000 loan to cover the entire build. To make matters worse, I’m worried that I won’t find a loan because I’m a bad credit holder. I know that I won’t be offered such competitive interest rates, but is there any chance that I’ll still get approved?

Hi Katie! Don’t worry, it sounds like you’ve come to exactly the right place!

Home improvements are expensive, and often not covered by the loan amounts that banks typically offer. With two-storey extensions often totting up to well in the excess of £30,000, a finance deal is often the best way to add value to your home.

At Pegasus Personal Finance, we can lend up to £100,000 for a home extension, so a £32,000 loan shouldn’t be a problem at all. Our team carry out full credit and financial background checks to make sure that you’re going to be able to afford the repayments – but that doesn’t mean having a bad-credit history should hold you back from applying.

We’re specialists in bad credit – so whatever your rating, we’re confident that we’ll find a finance deal for you. While representative APR% may be higher than that of a borrower with an excellent credit score, we’re interested in what you can afford now – rather than your financial past. Try our online finance calculator to work out what you can afford to repay.

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