Competitive Loans for DIY Renovations
The saying ‘a little change can be as good as a holiday’ has never rang more true when considering renovations and DIY home upgrades. Before getting stuck into the exciting parts of your renovation project you should consider which line of finance is best for your renovation project needs.
Renovating your home can be exciting and rewarding. Renovations are a great way to add value to your existing home without having to move property.
Consider the below renovation loans when renovating your home:
Redraw Facility – For smaller projects such as a new sun deck: A redraw facility allows you to access additional funds paid into your home loan if you need extra money, up to the amount of the additional repayments made.
Loan top ups – For small to medium sized renovations: Your home loan is more than likely to be the cheapest borrowed money you can get. A loan top-up allows you to increase the credit on your existing home loan to fund your renovation. However, if you find you require additional funds you will need to apply for another top-up loan. There may be a minimum amount you can top-up, usually around $5,000.
Home Equity loans – For medium sized projects such as a kitchen or pool: Equity loans allow you to access the equity in your property to fund your renovation project.
Home renovations don’t always go smoothly but I can help ensure your finance does with a competitive and flexible loan to suit your lifestyle.
Talk to me today about the fees and charges that may be associated with loans for your DIY home renovation.Tags: home equity loans, home loans, Loan Market, loan top up, Mortgage broker, redraw facility, renovation loans