Buying guide
Home renovation loans: How to get one + how they work
Let’s finance those renos
AI summary
Financing your renovation typically involves two main options: a mortgage top-up or a personal renovation loan. A top-up adds to your existing home loan, offering lower interest rates, but requires a fixed-price building contract and a property valuation.
If you can't borrow against your home, a personal loan is an alternative. However, these are often unsecured and come with significantly higher interest rates, shorter terms, and lower borrowing limits. Always explore all options and budget carefully.
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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