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Home loans are usually made to help fund improvements in the value of the property. They are a loan secured by the property, and as such are usually much lower rated than unsecured personal loans.

The big mortgage lenders are the first port of call for this kind of lending,and to compare their offerings on your loan requirement, simply click on the button . . .

Compare and Apply on line

The pros ands cons of home loans

You can organise a home improvement loan at the same time as a mortgage. You can normally arrange a further loan of around £25,000.

If you can't get more money on your mortgage, there are other lenders who offer special home improvement products. We have assembled a list of some 50 lenders who will look favourably at an "off mortgage" loan against equity in your home.

Forms of lending using the value of your home

Just to confuse the issue entirely, there are many forms of secured loan which rest on the collateral supplied by your home's excess of value to encumberance (market price compared to debt). But strictly speaking Home Loans are about a direct second charge on an already mortgaged property to help fund improvements to it.

This may take the form of advanced to you in tranches, because home improvement work costs being difficult to predict. The final cost could differ from your original budget, so being able to borrow exactly what you need is important.

Apply for a home improvement loan online

By clicking on the button above you can use UK Online Finance's online form to get an idea what a home improvement loan will entail.

If the improvements you have in mind are not classed as "essential", then you may have to ask instead for an extension on your mortgage.

The difference is that a mortgage advance has to be repaid overther full term, which means more interest is paid. A home loan is the same interest rate but a shorter period.

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