Many UK homeowners are reading the headlines these days and coming away with a picture that is uglier than reality. We hear things like “there is no money in the system”, “It is difficult to get loans and mortgages”, “the credit system is tied up” and similar statements. While these statements may be true for first time home buyers, people without home ownership and other categories of borrowers, it is simply not true for a UK home owner with equity in their home.
If you were thinking of trading up your house because you need more space, you want to update the decor, add a conservatory or any other major improvements, now might be the time to think about it more seriously. Instead of going through the hassle and waiting for qualified buyers, going through a long selling process and then having to find a new home (which you may have to renovate anyway), you may consider improving your existing home.
Adding an attic conversion, refreshing the kitchen and bathrooms, extensions and a host of other projects will be able to give your home a new lease on life and allow you to be happy where you are, enjoy your home more and possibly add value to your home in the long run.
Short on cash you say? Well, as mentioned above, if you are a UK homeowner with equity to spare in your house, getting a home improvement loan is a fairly straightforward process. Bad credit, good credit, employment status are all considered but the main factor is the equity in your home, the amount between your mortgage balance and the value of your home.
Another factor in your favor is that there are many lenders and loans out there to consider. You can use a broker (we can help you in this area, just fill out the form to your right and you will have a selection of the best secured loans to consider in no time!), that will help to search the many lenders in the market and quickly come back to you with the best homeowner loan deals. Then you can select the loan that is the cheapest or suits your situation the best.
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