Call0800 066 2882

Spread The Cost

Calculate My Loan
Monthly Payment £0
Total Repayable £0
(7.9% APR illustration)
Apply Now
Rates may vary depending on loan amount and individual circumstances. Subject to status.

Dear Sirs, I am looking for help with getting a home improvement loan for around £30,000 to spend on a loft conversion for my house, however my credit history is not brilliant. My financial problems are now a thing of the past but I am finding it difficult to find a bank to give me an opportunity to prove this. Am happy to repay the loan back over 5 years as I have a good job and I don’t really want to secure the loan on my house as I don’t want to affect the really low rate mortgage deal that I have at the moment. The loft conversion would add much needed space to our semi-detached house and will increase the value of our house for when we eventually sell it. Can you also give me an idea of interest rate and payments over 5 years.

Hi Simon and thanks for your email regarding home improvement loans.

A loft conversion is definitely a sensible idea and much cheaper than moving home! We specialise in home improvement loans and work vey closely with lenders who understand not everyone has a perfect credit history.

So even if you have bad credit we can still help with providing a home improvement loan. A large loan of £30,000 could be spread over two to ten years and should be possible to arrange as an unsecured loan subject to the monthly payments being affordable for you.

Longer terms can also be arranged but may need to be secured on your home, however there is no reason why this would affect the deal with your mortgage lender and would be a second charge loan. Interest rates for unsecured home improvement loans would start from 9.9% APR for a 5 year term.

For an idea of payments please visit our home improvement loan calculator.

I hope this helps to explain what is possible but if you have any further questions please call us on 0800 066 2882 or you can make an application via our simple online form and we will call you to discuss.

About The Expert