Why Choose a Home Improvement Loan?

Many people choose to take out home improvement loans so they can give their house a new look before selling.

Home Improvement Loans can help you if you have been considering doing some home improvements to your home and have now decided to look for a loan to turn those home improvement ideas into reality.

Should you wish to make major improvements to your home, how would you fund it? If you have savings, that's all well and good, but if you don't have the money put away you may want to borrow it. Should you wish to borrow money specifically to improve your home though, there is an option that it's worth learning about. This is the home improvement loan.

In some ways, this is a mortgage extension. Your mortgage lender will like to lend you money for this, as you are increasing the value of property that they own until you have paid back your mortgage. They also like the fact that you will have to pay interest on your home improvement loan as well, so they can make more money out of it.

No matter what amount you're looking borrow, £5000 for a new kitchen or £100,000 plus for an extension, a home improvement loan can help.

Another reason for choosing a home improvement loan is to simply add an extension or modernise your home for your own quality of life. Many homes do not have double-glazing or central heating, and these systems are expensive to install. Getting a home improvement loan will allow you to pay for these essential jobs, and pay back the loan at an affordable rate.

A home improvement loan is 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. Also, it's a chance for them to make a little bit more money out of interest on the loan.

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.

---

What is a Reverse Mortgage?

Simply stated, a reverse mortgage is a loan that enables... Read More

5 Tips for Savvy Use of Your Home Equity Line of Credit

Tapping your home's equity to pay college expenses, consolidate credit... Read More

Mortgage Prepayment Penalties - Just Say No

One of the most common terms found in a new... Read More

Mortgage and Credit Card Companies Under the Spotlight on Consumer Charging

For the first time since May 1996 reports have indicated... Read More

Mortgage Free In 15 Years!

Imagine paying your mortgage off in 15 years! Think of... Read More

Buying a Home With Bad Credit - Get Approved With a Recent Bankruptcy or Foreclosure

A few years ago, if you had a bankruptcy or... Read More

Reverse Mortgage Offers Fresh Approach To Income From Real Estate

If you owe 40 percent or less of your original... Read More

What Is The Best Deal For A Mortgage?

Few of us invest the time and effort into researching... Read More

How Much Home Loan Can I Afford?

Have you ever asked yourself how much home loan can... Read More

What On Earth are Home Equity Loans?

Home equity loans are one of the most common types... Read More

Home Equity Line of Credit or Second Mortgage Loan Online - Things To Do With Your Homes Equity

If you are wanting to get a home equity loan,... Read More

Kippers or Red Herrings?

Recent news has made much of parents stretching their finances... Read More

Home Mortgage Loans For People With Bad Credit

Getting a home loan with bad credit has actually never... Read More

Guide to Remortgages

Here is a useful guide to remortgages. What is a... Read More

Home Equity Line of Credit ? Great for Remodeling Projects

Many homeowners are lucky enough to find a house that... Read More

Obtaining a Home Equity Loan Online

Private lenders, banks, and mortgage companies are all setting up... Read More

Tips for Getting Home Loans from the Right Lenders

Getting home loans is possibly the biggest step in an... Read More

Top 5 Methods to Manage Your Home Equity

As your home appreciates in value, you gain equity. You... Read More

A Guide to Selecting a Mortgage Broker in Australia

Once you have made the decision to buy a home... Read More

Applying Online For A Home Loan Can Give You an Instant Approval

"Instant Approval For Home Loans" is a common refrain for... Read More

Refinancing Your Mortgage Can Really Save You Money

Refinancing a mortgage is simply taking out a new mortgage.... Read More

Home Equity Line of Credit ? Great Idea for Rainy Day Emergencies

Most Americans tend to live on a paycheck-to-paycheck basis, and... Read More

Option One Mortgage Loans ? Getting an Option ARM or Option One Mortgage Loan

Have you heard about or been interested in finding out... Read More

Home Mortgage Loans - Fixed Rate, Adjustable or Balloon, Which One Is Right For You?

When you're shopping for a new home-especially for the first... Read More

Home Mortgage Loan Refinancing Online - 3 Tips on Refinancing Your Home

When refinancing your home, it's helpful to know a few... Read More

40-Year Mortgages: An Alternative to Interest-only Loans?

Interest-only loans are quickly becoming a mainstream loan product. Borrowers... Read More

Know Your Mortgage Fees, and Youll Never Pay Too Much for Your Loan

If you buy new windows, you'll not only pay for... Read More

Bad Credit Mortgage Loans - Are You Killing Your Chances of Getting Approved?

When you have poor credit, your list of lenders that... Read More

Jacksonville Florida Real Estate Mortgage Home Loans - Get the Best Rate Everytime

There are hundreds of mortgage companies in the Jacksonville real... Read More

A Guide to UK Buy to Let Mortgages

Essentially there is little difference between the process that one... Read More

Mortgage Terms Explained

When you are hunting for a mortgage, you will find... Read More

Home Loans For People With Bad Credit - Tips To Getting Approved Online

Buying a home with bad credit doesn't have to stop... Read More

A Mortgage Loan For Homes

Everybody wants to own a house because it is something... Read More