There are lots of different reasons why people look to remortgage for home improvements. It could be that your home is simply showing its age and needs modernisation. It could be that your family has expanded and you need to reconfigure the layout. Alternatively, you may be looking to convert your garage to a gym or a bedroom into a home office.Get Started
Whatever your reason for remortgaging, if you have a decent amount of equity in your home then it shouldn’t be a problem. If the works you are carrying out are substantial the lender may need you to obtain estimates ahead of agreeing to the mortgage.Apply Now
Should you remortgage before or after the home improvement works?
Most people do not have that option, home improvements such as extensions or home office can vary in price, and unless you have the cash to pay upfront, you'll need to raise the funds first. If you do the home improvements first however then you may have a better loan to value when it comes to looking for a new mortgage based on the post-works valuation.
How much will the home improvements (and the remortgage) cost?
We recommend you obtain estimates for the works required so you do not run out of case. Mortgage rates and fees can vary. As well as the cost of materials and labour, you may also need to budget for architects, planning permission, building regulation certificates and VAT.
Should I remortgage to pay for home improvements or can I use a loan?
It is your decision, but we find that remortgaging is usually cheaper monthly than a personal loan as you're spreading the cost of the extra borrowing over the whole term of your mortgage. Remember a mortgage is secured upon your property whereas a personal loan is not.
Will I need to provide quotes to the lender?
If the project that you are planning is quite large, such as a home extension and you are looking to raise the funds for this, lenders will most likely want to see quotations for the works that are due to be carried out.
What are the most popular home improvements?
Lots of people look to improve rather than move. This could be due to the fact you have children at a school that are settled or are close by to your place of work. The most popular improvements are usually to create more space, through a house extension or loft conversion but remortgaging for a new bathroom or kitchen is also popular.
We're flexible around your work and family, we'll be there when you need us.
No upfront fees payable, we are paid on results only.
You'll always know who you are dealing with.
No vested interests, do you want your builder or estate agent knowing your maximum lending when you're trying to negotiate your price, you'll receive a mortgage tailored to your needs.
Meaning you're safe and protected by our process, providing peace of mind. We take all the responsibility for the advice.
We shop around for the cheapest deal for you, saving you time and money.
There isn't a situation we haven't come across before, we fully understand your needs.
We'll help you overcome hurdles that you face along the way, for example, removing the stress of property survey and valuation problems.
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