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.

---

Consolidate Your Debt With a Home Equity Loan and Improve Your Credit Score

A home equity loan is a loan based on the... Read More

Things that You Need to Know before Financing Your Home

Frequent Asking Questions:What are Points? A. There are several types... Read More

Reaping Financial Rewards ? Bad Credit Home Equity Loans

Home is the place you inhabit. It is the place... Read More

Adjustable vs Fixed Rate Mortgages

Mortgage rates can either be fixed for the duration of... Read More

Zero Down Payment Mortgage ? Can It Be Done?

"I've been renting for years now; I've always paid my... Read More

First Time Buyers Fail To Shop Around

Almost two thirds of first time buyers accept the first... Read More

Commercially Viable Commercial Mortgages

Commercial mortgages are similar to residential mortgages. Usually taken by... Read More

Buy to Let Mortgages

Finding the right buy to let mortgage is crucial to... Read More

Why Refinance Back into a 30-Year Loan?

One of the biggest reasons homeowners refinance their mortgage is... Read More

Before You Buy

Before you start looking for a home, figure out what... Read More

Why Choose a Home Equity Loan?

There are many reasons for choosing a home equity loan.... Read More

Escrow Accounts, Do You Absolutely Need One?

With escrow accounts the money for your home insurance and... Read More

How to Get the Best Mortgage

This is a guide on how to get the best... Read More

Buying a Home With Bad Credit - Why a Recent Bankruptcy Will Not Stop You From Getting Approved

Buying a home with bad credit is possible with the... Read More

A Home Equity Loan - What You Should Know?

Asking yourself, "Is a home equity loan right for me?"... Read More

Types of Home Equity Loans

There are at least two types of home equity loans.The... Read More

Are Biweekly Mortgages Really Worthwhile?

You may have heard people, especially mortgage lenders, extolling the... Read More

Guide to Remortgages

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

Home Equity Loans Categories

Fixed Rate Mortgages: These loans have a fixed rate of... Read More

Why Choose a Home Improvement Loan?

Many people choose to take out home improvement loans so... Read More

What Exactly Is A Reverse Mortgage And How Does It Work?

A reverse mortgage is a certain loan that allows the... Read More

Stop Foreclosure - 7 Tips to Save Your Home

Faced with the threat of a foreclosure on their home,... Read More

What is a Capped Mortgage?

A capped mortgage is a variable rate mortgage with a... Read More

How to Find Cheap Home Improvement Loans

If you have home improvements that you'd like to see... Read More

Home Mortgage Loans For People With Bad Credit - 3 Ways To Improve Your Chances For Getting Approved

Finding home mortgage loans are a reality for people with... Read More

Kingsland Georgia Mortgage Company Information For Homebuyers Transferring to Kings Bay

If you are transferring to the Kings Bay Georgia Naval... Read More

Home Loans ? Would You Buy a Home Without an Inspection?

The housing market has exploded, with home prices rising beyond... Read More

Self Employed Mortgage Loans - A Survival Guide

When you're self employed you have numerous advantages. As you... Read More

How to Find the Best Mortgage

The purchase of a new home is one of the... Read More

Home Owner Loans Explained

How To Release Equity Locked Up In Your Home For... Read More

7 Credit Improving Steps You Must Take Before Applying For A Mortgage

If you think you have good credit, think again. Chances... Read More

Should You Get an Interest-only Home Mortgage?

Before you consider taking out an interest-only mortgage, you should... Read More

Home Mortgage Interest Rates: How to Compare

Whether you are looking to purchase your first home, sell... Read More