What are Home Improvement Loans?

Home improvement loans are loans specifically designed by loans companies to help you fund an essential home improvement projects.

Home improvement loans provided by loans companies are secured on the value of the borrower's property. The amount available to the borrower is subject to the equity in their property and their ability to repay home loans when their outgoings and other loans are taken into account.

A home improvement loan is one that is issued by the lender on the basis that you use the amount of the loan to make improvements to your home that will increase the market value.

Typically a home improvement loan is offered by your existing mortgage lender, where the equity value in the house acts as security for the lender. Where this is the case, the amount you can borrow may be determined by the amount your improvements will add to the market value of your home.

Home improvement loans can be arranged at the same time as you are buying the property. This is as long as the total amount of mortgage and home improvement loan will not exceed the value of the property.

The reason why you would want to get this loan from your mortgage lender is that you may be able to obtain the same interest rate on the loans that you are paying on your mortgage, which cannot be beaten with a personal loan.

Home improvement loans are in some ways an extension of your mortgage, in that the first port of call for someone wanting to carry out major home improvement work on their home would be their mortgage lender. It is, however, a separate loan, which can be paid back over a different period.

The mortgage lender will not discourage this home loan, as it is in their interests for improvement work to be carried out on the home they are lending on, considering that they effectively own it until the mortgage is repaid.

Loans secured for home improvement are flexible in duration. The loans are independent of mortgage loans and are typically available with loans repayment terms of between two years and twenty five years.

With home improvement loans homeowners can borrow anything from £5,000 to £75,000 for a larger home improvement project.

There are countless home improvement projects that can be undertaken using improvement loans. New interior decoration can be funded by loans for home improvement, as can the purchase and installation of a fitted kitchen, bathroom or conservatory.

If you want better storage in your home then loans secured for home improvement can be used to purchase fitted bedroom furniture or to develop unused spaces in your home.

Loans for home improvement can be used for garden improvement too, such as landscaping the garden.

Larger loans for home improvement can be used to design and build an extension to your home.

You may freely reprint this article provided the author's biography remains intact:

About The Author

John Mussi is the founder of Direct Online Loans who help UK homeowners find the best available loans via the http://www.directonlineloans.co.uk website.

---

Loan Officer Marketing - The Power of Positioning

How do you build a marketing strategy that can have... Read More

What is a Tenant Loan?

Ever wondered what is a Tenant Loan? A tenant loan... Read More

It Only Takes a Few Simple Steps To Avoid Student Loan Debt

Student loan debt is a problem that affects many former... Read More

Payday Loans ? The Legal Loan Sharking Industry

Laws have been created to protect people against "Loan Shark"... Read More

Need a Personal Loan? Have Poor Credit? See if a Payday Loan Would Work For Your Needs

Poor credit and a financial emergency don't seem to mix... Read More

No Credit Check Personal Loans - If You Need Fast Cash, A PayDay Loan Online Is a Very Quick Process

Online payday loans can get you fast cash through a... Read More

Car Loans - Shop Around, Compare Offers, and Watch The Small Print

Getting a loan to buy your new car is, you... Read More

How To Apply For a Business Loan

Worried about how to apply for a business loan? Although... Read More

Why Choose a Bridging Loan?

Listed below are some of the reasons for choosing a... Read More

Law Practice Finance

How do you finance a growing practice? It is impossible... Read More

Bad, Credit, Student, Loans - Disjointed They Don?t Make Sense - Join Them and See the Possibilities

The day you stop learning is the day when you... Read More

Finding and Getting Bad Credit Loans

If you don't know where to turn for bad credit... Read More

Car Loans After Bankruptcy - How Poor Credit or a Recent Bankruptcy Can Affect Your Loan Approval

If you have poor credit or a recent bankruptcy, you... Read More

SBA Loan: Options, Benefits, and Lenders Part 2 of 2

In this second installment, we will further examine what kinds... Read More

An Overview of Getting a Homeowner Loan

Should you be in the market for a homeowner loan,... Read More

5% Down Vs. 10% Down - A Comparison

It has always been an issue for home buyers to... Read More

Guide to Loan Terms

Listed below is a guide to loan terms. It is... Read More

Unsecured Loans

The term unsecured loan relates to a loan which is... Read More

125% Equity Home Loans

If you are a homeowner in need of a home... Read More

Financial Openings Without Warranty Alias Unsecured Personal Loans

Isn't it the trillionth article on unsecured loans? All are... Read More

Applying for a Loan Online

If you want to apply for a loan online, you... Read More

What is a Cash Advance Loan?

A cash advance loan is a short-term loan secured by... Read More

Used Car Loans - 3 Tips For Financing Your Used Vehicle Online

Financing the purchase of a used vehicle can be done... Read More

Why Choose a Personal Loan?

Are you wondering why choose a personal loan? One of... Read More

Free Money Saving Auto and Home Loan Tips

Free Auto Loan TipsThe following tips should help increase your... Read More

Wedding Loans Because Wedding May Be Made In Heaven But They Are Certainly Not Made For Free

Wedding loans because wedding may be made in heaven but... Read More

What is a Bad Credit Personal Loan?

A UK Bad Credit Personal Loan is a loan designed... Read More

Payday loan: A Complete overview

From different surveys, it is seen that the number of... Read More

Get your Dream Car ? Get a Car Loan

You've probably spent years thinking that your dream car is... Read More

Title Loans - Get More of the Title to Your Vehicle

Title loans have the same features as a secured loan,... Read More

High Risk Personal Loans ? Revive Frustrated Loan Hunting Attempts with High Risk Loans

Bad credit seems like an unfinished business, you can't shake... Read More

Finding a Loan With Bad Credit

No matter what your credit history is the simple fact... Read More

What is Credit Insurance?

Are you wondering what is credit insurance? Very simply, credit... Read More