Secured borrowing for improvement work
Because it is secured against the property, terms are normally more favourable than unsecured borrowing for the same purpose.
Loan service
Home Renovation Loan
Renovation finance covers repair, extension and improvement work on a property you own, assessed against an estimate of the work.
Overview
About home renovation loan
A renovation loan funds work on a property you already own — repairs, structural improvement, extension of built-up area, or replacing ageing plumbing, wiring, waterproofing and fittings.
It is assessed against a documented estimate of the proposed work rather than a purchase price, and it is normally secured against the property being improved. As with construction finance, larger projects may be disbursed in stages against progress.
Lenders draw a line between improvement and furnishing. Structural and fixed work usually qualifies; movable furniture, appliances and purely decorative items often do not. Where an extension adds built-up area, local authority permission may be required before a lender will fund it.
Key benefits
What you get from working with us on this
Clarity on what qualifies
Lenders fund structural and fixed work but often exclude furnishing and appliances. Knowing the line early avoids a shortfall.
Estimates prepared to lender expectations
A properly documented estimate is what the assessment rests on. We help you present one lenders can work with.
Permissions identified up front
Where work extends built-up area, authority permission may be needed before funding. Better established at the start.
Eligibility
What lenders generally look at
General guidance. Every lender applies its own criteria and may weigh these differently.
- Clear ownership of the property being renovated
- A documented estimate of the proposed work
- Local authority permission where the work extends or alters built-up area
- Demonstrable income sufficient to service the instalment
- A credit history the lender considers acceptable
- Property and proposed work of a type the lender is willing to fund
Documents
What you will typically be asked for
A typical checklist. Lenders may ask for more, or for less, depending on your profile.
Identity and address
Income
Property
Renovation work
How it works
A simple path from enquiry to lender decision
We help you understand and prepare the case. Verification, sanction terms and the final credit decision remain with the lender.
- 01Step 1
Share your requirement
Tell us what you are trying to do — buy, build, transfer or raise funds — along with your income type and rough timeline.
- 02Step 2
Consultation
We go through your profile, explain what lenders look for and set out the options realistically open to you.
- 03Step 3
Documentation
We tell you exactly which documents are needed and check the file is complete before anything is submitted.
- 04Step 4
Lender processing
Your application goes to the lender, who carries out their own verification, valuation and legal checks.
- 05Step 5
Lender decision
The lender decides the outcome and terms. We keep you updated and explain what any sanction actually commits you to.
Questions
Home Renovation Loan questions we are asked
Typically structural repair, extension of built-up area, and fixed improvements such as plumbing, electrical work, flooring, roofing and waterproofing. Movable furniture, appliances and purely decorative items are commonly excluded, though the boundary varies by lender.
They can achieve a similar result but they are assessed differently. A renovation loan is assessed against the proposed work; a top-up is additional borrowing on an existing loan. Which suits you better depends on your current loan and the size of the project.
Internal repair and replacement usually does not require it. Extending or altering built-up area often does, and lenders generally want to see that permission before funding that portion.
Smaller projects are often disbursed in full. Larger ones may be released in stages against verified progress, in the same way as construction finance.
Enquire
Ask us about home renovation loan
Send a short enquiry and we will get back to you to talk through your options. Nothing here commits you to anything.