How can you use your mortgage to help pay for home improvements?
If you are a current homeowner with a mortgage looking to put in new kitchen, bathroom or even an extension, you may not realise your mortgage can help. Often the cheapest and efficient way of raising the additional funds you need is by using the equity you may already have in your home.
Why is this?
This is because most people’s first port of call is to look at an unsecured loan if they do not have the cash funds readily available. This unsecured lending can often be at a higher rate than you may be able to achieve via secured lending like your mortgage.
You may be able to use a further advance with your current lender or remortgaging with a different lender to gain the funds you need.
Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. You may have to pay an early repayment charge to your existing lender if you remortgage.Your home may be repossessed if you do not keep up repayments on your mortgage.
Submit a quote enquiry or book a call to start your home improvements project
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We need to know your basic personal data so we can make contact with you and respond to your message, request or query. All the personal data we process is processed by our staff in the UK.
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What are my rights?
What are my rights?
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