Buying guide
Home renovation loans: How to get one + how they work
Let’s finance those renos
AI summary
Funding a renovation? A mortgage top-up is often the best choice, letting you add to your existing home loan at lower interest rates. This usually requires a fixed-price building contract and lets you borrow up to 80% of your home's future value.
Alternatively, a personal renovation loan is an option if you can't use your home's equity. Be cautious, as these are often unsecured and come with much higher interest rates, shorter terms, and lower borrowing limits.
For many people a mortgage top up is the best option
Can’t borrow against your home? Consider a renovation loan
Before you start knocking down walls make sure your finance is sorted.
Drawbacks of renovation loans (there are a few)
ALWAYS APPROACH WITH CAUTION
How to keep your renovation budget down
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