Millions of home owners in UK undertake home improvement projects every year. With current environment of strong housing demands and historically low interest rates, home improvement mortgages in UK have experienced incomparable activity. 24% of 2.4 billion mortgages taken every year, in UK, are for home improvement.
Home improvement loans will serve their purpose well if you take them for any of the following reason -
- Adding a new room like a bedroom
- Adding or remodeling a bath
- Adding or enclosing a garage
- Improving the kitchen
- Landscaping
- Health and safety repairs
- Electrical and Plumbing
- Roof, gutters, sewer or water lines repairs
Home improvement not only provides comfort and peace but it increases the value of your home. Home improvement help to build equity and achieve financial security.
Remortgage Release Equity For Home Improvements
Are you looking to raise money for a new extension to your home, carry out home improvements or raise further funds to complete the work already started.
As a homeowner you have a number of options available to you to increase the value of your property. You could remortgage to release equity for a loft conversion; some people take out a further advance to build an extension. You could remortgage release equity to paint and decorate.
Apply for a homeowner secured loan
Using a Secured loan for home improvements is a great option if you are currently tied into your existing mortgage and face heavy redemption penalties for leaving early. With a second charge home owner loan you can raise the money you require, complete your home improvements and then when you are free of redemption penalties consolidate the secured loan into your mortgage.
Remortgage to pay for a new Bathroom or Kitchen
Another option that many home owners choose is to simply remortgage and release the equity built up to pay for a new kitchen or bathroom. Remortgage for home improvements are available for interest only and repayment mortgages. There is a choice of fixed, tracker and variable rate mortgages available.
For more advice on which home improvement mortgage would be best for you contact our mortgage advisors today to discuss your requirements. Call 01202 512340 lines open 9am -7pm Monday to Saturday, or complete the contact us form to arrange for a mortgage adviser to call.
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