Home improvements can be significant investments, so it’s important you choose the best borrowing option for you. Other borrowing options include:
You could consider switching your existing mortgage to a new lender, this is called remortgaging. If you have some equity in your home you may be able to borrow more on your new mortgage to pay for your home improvements. Early repayment charges may apply on your existing mortgage.
Read more about Halifax remortgages.
You may be able to borrow more money on your existing mortgage to pay for home improvements, this is called Additional Borrowing. Conditions apply.
Find out more on Additional Borrowing.
You could lose your home if you don't keep up your mortgage repayments.
If you’re only doing small home improvements then a credit card may be a more suitable option than taking out a loan. However, consider the interest rate payable and whether or not you will be able to fully repay the outstanding balance before the end of any introductory period in order to avoid higher interest charges.
Read more about our credit cards.