Hey there! In the world of finance, interest rates are dictated by credit scores. Bad credit holders present a greater level of risk for lenders – so if you’ve missed payments in the past, you may find that home improvement loan rates are higher as a result of your financial history.
Taking steps to rebuild your credit rating will prove beneficial in the long run – granting you access to a wide range of more affordable options. In the meantime, though, you can apply for a bad credit home improvement loan through a finance broker like us to find the best finance deals available to you and maximise your chances of approval.
If you’re subject to a higher APR rate, you may prefer to opt for a longer loan term to ensure that your monthly repayments are manageable – but bear in mind that the length of your repayment period won’t have any effect on your interest rate.
With our home improvement loan calculator, you can get an estimate on your monthly repayments and take a look at your Representative APR rate. Try it today for an instant online quote, or find out more about the ins and outs of home improvement loans.
