A home improvement loan can be the perfect cash injection to help homeowners create the living space they’ve always wanted. From loft conversions to garden makeovers and anything in between, loans for home improvements are a popular option for those with plenty of affordability. Whilst these are an ideal loan product for many, they are not something we can help with here at Fast Loan UK.
Our short term loan options are more suited to emergency expenses that you would otherwise struggle to pay. As we are a trusted source of online loans, at Fast Loan UK you can choose a loan up to £2,000 with flexible repayment terms available that are based on what you can afford to pay.
If you are someone that can afford a small loan to repay over a maximum of 12 months, we could look to help today. If this would help resolve your short-term position, click apply now and we can provide a decision in principle fast and same-day funds where possible.
What is a Home Improvement Loan?
Although we do not offer home improvement loans in the UK, we believe it is important for our customers to remain informed about the different types of loans available to them. Loans for home improvement allow you to borrow a set amount of money in order to fund home renovations on your property. Often, these are unsecured personal loans, but it is also possible to get these as a secured loan from some lenders. In this case, you would use your home as an asset, which would usually allow you to borrow a larger amount of money.
At Fast Loan, we only offer shorter term finance such as a payday loan that can allow you to access quick cash before your next payday. All you have to do is use our loan calculator to determine how much you want to borrow and how long you want repayments to be. What makes us different is unlike payday lenders, we provide flexible repayments of up to 8 months for new customers, and 12 months for returning customers. So, if paying back a short-term cash loan on your next payday isn’t convenient for you, you can choose a number of instalments through us instead.
What Are Home Improvement Loans in the UK Used For?
This form of long-term loan is often used for things such as renovating your house. This could be a new kitchen, bathroom or adding an extension. Reasons for getting home improvement loans in the UK span from adding additional space for a growing family or adding a significant amount of value to your property.
Loans for home improvement are often used so if you sell your property in the future, your refurbished home with added conversions could add up to 20% of the original value to your home. This makes them a popular option for those looking to make a profit on the property ladder in the long term.
Getting Help When You Need Quick Cash
At Fast Loan UK, we do not offer home improvement loans and our loans are classed as high-cost short-term loans. This means they are not ideal for long-term use and only suitable for short-term financial emergencies when you have no other options to resolve such as emergency savings. If you apply for this type of loan with us, the application process is quick and easy to complete. This helps save time when you need funding quickly to resolve your unexpected expense.
By telling us how much and how long you want to borrow for, we can then work quickly to provide an agreement in principle, so you won’t be left waiting to find out a decision. As many online direct lenders will use automated lending approval systems, often those with poor credit can be declined straightaway without any consideration concerning their current affordability. Here at Fast Loan UK, we work differently in this respect, as we take a human approach to the approval process.
Credit checks are necessary due to Financial Conduct Authority (FCA) regulations, but whether you have a low credit score or not, we will still take the time to assess your finances further. We assign every applicant a Customer Care Manager who will personally oversee your application. This way we can manually check your details received from credit reference agencies and call you if we have any queries. If we do need to call you, this will usually take no longer than 5 minutes to complete, although this is not always the case. If your credit report reveals all the information we require, we will not have to do so.
If we can approve your loan and once you’ve signed your digital credit agreement, you could receive the funds into your bank to use the same day where possible. If this sounds ideal for you, you can apply for up to £800 as a new customer today – click apply now to begin your application.
How to Apply for a Fast Loan
If you wish to apply for home improvement loans in the UK, this is something we cannot provide, and you’ll need to continue your online search. However, if you need a quick cash loan, we keep the application process simple for our customers which also means our criteria to apply is also straightforward. To be eligible to apply today for a loan with us, you will need to meet the following:
- 1. Aged 18 years or over
- 2. Current UK Resident
- 3. Be in Full-time, Part-time or Self-Employment
- 4. Receive a Regular Income
- 5. Have a valid Bank Account and Debit Card
By meeting the above criteria, you will be able to choose the amount and repayment terms you need and begin your application. If we cannot determine if you can afford the loan term you are looking for, we will have to decline your application. As part of the approval process, you may also be required to provide proof of ID, proof of address and your last 3 months' bank statements as part of credit and affordability checks.
Cash Loans for Short-Term Emergencies Only
If you’re looking for instant cash today to resolve your unexpected bill, and you can afford the necessary repayments, our loans may be suitable for you. We do not offer long-term personal loans, but they can help you in a difficult situation when you have no savings or other means to resolve them.
As FCA approved lenders, we work to responsible lending guidelines to ensure your application is treated fairly and to determine you can afford the loan you apply for. If you have any questions about home improvement loan, please get in touch. To start your application today, click apply now.
Please visit Money Helper if you are currently experiencing financial difficulties or you are seeking more information about loans for home improvement.
Home Improvement Loans UK FAQs
Is a home improvements loan ideal in the short term?
No, most loans for home improvements will come with a minimum term and amount, similar to a personal loan. As most of these types of loans will be for £1,000 and more, the term will usually be for at least 12 months. If you are looking for short-term options and it is for an emergency only, we may be able to help you here at Fast Loan UK instead.
Can I get loans for home improvement with bad credit?
As a home improvements loan may only be available from high street lenders and banks, they may require applicants to have a good level of credit. This means those with bad credit may struggle to get approval, but they may find specialist lenders online that can offer similar loans. Here at Fast Loan UK, we can help those with varying credit histories if they need a small loan to cover a short-term position. If we can determine the loan is affordable for you, we can possibly help those with a low credit score.
How much can I borrow with a home improvement loan?
In general, home improvement loans can range from £1,000 to £25,000 and sometimes more. As they can be both unsecured and secured forms of borrowing, higher values may need to be secured against your property to get approval for a home improvement loan. At Fast Loan UK, we can offer loans up to £800 for new customers and a loan term of up to 8 months for short-term emergency use only.
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