If you need to make urgent home improvements to aid your standard of living, it may feel tricky budgeting for this. If you have carefully reviewed your circumstances and feel stuck for ways to finance renovations to your home, a home improvement loan could help. You should only consider a home improvement loan if you really need it. To help you decide, we have packed this page with plenty of information.
We can lend you between £100 and £5,000, with the funds repayable over a period of 3 to 48 months, depending on how much you borrow. Your repayment terms will depend on how much you borrow, and we can explain all the details right here. Read on for more information on home improvement loans in the UK and how you can apply for one with Dot Dot Loans today.
A home renovation loan involves borrowing money from a lender to help finance any improvements you'd like to make to your property. As with most other types of loan, you'll borrow a certain amount, which you then pay back over an agreed period, plus interest.
Sometimes, renovation loans can be difficult to secure through traditional lenders such as banks. With Dot Dot Loans, you can apply quickly via our website and find out if you've been approved soon afterwards. Home improvement loans are issued subject to affordability checks.
Home improvement financing could be used for a wide variety of projects, including:
You may also need a house improvement loan if unexpected bills have cropped up and left you in a difficult financial situation. For example:
Whatever you need your home renovation loan for, we're here to provide a hassle-free solution.
If you're looking for financial help, it's important that you come to the right place. At Dot Dot, we aim to make home improvement loans as simple and stress-free as possible. Here are just some of the reasons to choose us:
We're owned by Morses Club PLC, who are firmly established as one of the UK's leading finance companies with over 130 years of experience. We're a direct lender of home improvement loans, so you won't have to worry about dealing with anybody else.
A renovation loan from us is easy to organise. As an unsecured type of funding, you won't have to offer your property or anything else as security. Find out how much your repayments will be by using the short-term loan calculator or the long-term loan calculator.
For smaller-scale costs such as redecorating, a short-term renovation loan could be ideal. These allow you to borrow between £100 and £1,000 with a repayment period of three, six or nine months.
Larger projects such as an extension may require you to take out a long-term house improvement loan. This option allows you to borrow £1,500-£5,000 with repayments made over 18, 24, 36 or 48 months.
The calculator tools will tell you the total cost of your home renovation loan. If you want to go ahead, we'll carry out credit and affordability checks. We'll assess things like your salary and credit history, but don't worry if your credit score is less than perfect. Our home improvement loans may still be an option for you.
If your application is approved, we'll agree the cost of your loan upfront. We'll begin to take repayments automatically and you can keep an eye on your funding through the customer portal.
Data from the FCA reveals that the volume of loan applications is rising, but that doesn't mean it's always the best solution for everyone. Before applying for a house improvement loan, it's important to consider the following things:
The FCA recently reported that 4.5 million adults in the UK had seen applications for financial products rejected across a two-year period. At Dot Dot Loans, we want our home improvement loans to be available to as many people as possible. You can apply if:
All applications are properly assessed, as we are a responsible lender. We'll analyse your credit history as well as your income and outgoings before making a decision.
That depends on whether you have chosen a short-term or long-term house renovation loan.
You can borrow between £100 and £1,000. This is repayable over three, six or nine months, depending on the loan amount.
You can borrow between £1,500 and £5,000. This is repayable over 18, 24, 36 or 48 months, depending on how much you borrow.
The size of your renovation loan will affect your repayments. For example, if you borrow £100 then you will pay that back over 3 months. However, a £5,000 loan will be repaid across a 48-month period.
We'll collect the repayments automatically, this will be done on a pre-agreed date by Direct Debit, to make sure there are no delayed or missed payments.
You'll not be charged for any late or missed payments on our home improvement loans. However, if you think you might struggle to keep up with your payment schedule then please get in touch to let us know. We'll try to find a solution together.
All our home improvement loans come with no hidden or additional charges. Some lenders may include extra fees, but we like to make everything clear from the start.
The interest on your home renovation loan will depend on how much you borrow. Your rate will be fixed upfront, so you'll know how much there is to repay every month.
Some lenders offer variable interest rates. This means that your repayment amount can change from one month to the next. If the interest rate was to increase, you may find yourself struggling to make the repayment. With our fixed rates on home improvement loans, everything is clear and simple.
Does your home need a little tender loving care? Do you have a large project in mind? At Dot Dot Loans, we can provide quick and simple home improvement loans.
Our easy loan calculator tools allow you to select how much you'd like to borrow. Once you've done that, it'll tell you how much you will be repaying and over what period of time.
If you're happy, hit 'Apply now' and complete your application in a matter of minutes. If you're approved, the money could be in your bank account within the next hour, depending on how much you borrow. That's the beauty of a home renovation loan from Dot Dot Loans.
Short-term loans: 824.7% APR Representative Long-term loans: 79.4% APR Representative