Home improvement loans
Looking to upgrade your kitchen, beautify your bedrooms or convert your loft? Whatever plans you have, a home improvement loan could help to make it happen.
What is a home improvement loan?
- A home improvement loan is a personal loan you can use to pay for improvements to your home, such as an extension.
- Halifax current account holders can apply for between £1,000 and £35,000 (between £1,000 and £25,000 if you don’t have a Halifax current account).
- You can ask for up to two repayment holidays a year (subject to approval). Interest will still be charged for the months that you don’t make any payments, so you'll pay more interest overall and your original term will be extended.
- No charge for making extra payments – if you pay off your loan in full earlier than agreed, you’ll be charged up to 58 days’ interest.
If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. You‘re able to apply for a Personal Loan even if you don't bank with us.
3.5% APR representative for loans of £7,500 to £25,000 over 1 to 5 years
Here are a few things to think about before you start ripping those floorboards up.
Apply for a home improvement loan
With Halifax, it’s easy to apply for a home improvement loan. The decision whether to offer you a loan, the amount we’ll lend you and the interest rate, will all be based on an assessment of your individual circumstances. If you hold a Halifax current account, in most cases we’ll tell you how much you can borrow and if you’re likely to be approved when you get your quote. This won’t affect your credit score. Check out how it works for existing and new customers:
Why choose Halifax?
- Instant decision - Apply in minutes and get an instant decision on your loan when you apply online
- Repayment holidays - Ask for up to two repayment holidays a year (subject to approval). Interest will be charged for the months you don’t make any payments. This means you'll pay more interest overall and your original term will be extended.
- Quick access to your loan - If you have a Halifax bank account, if approved you could have the money in your account in minutes. If you don't have a Halifax bank account, if approved, you should get the money within 24 hours (no more than 5 working days).
Frequently asked questions
Our home improvement loan is a personal loan you use to pay for updates or work being carried out on your home; for example, paying trades people for their services.
If we approve your loan, you should have the money in your account within minutes if you currently bank with us, or within 24 hours if you don't bank with us . In some cases it may take a bit longer to have the money in your account - but no more than 5 working days.
You will then pay the loan back on a monthly basis as outlined in your agreement.
You can apply for a home improvement loan if:
Learn more about loan eligibility.
- You’re aged 18 or over and live in the UK (excluding the Channel Islands and the Isle of Man)
- You’re in paid employment or have a regular income
- You’re not a full-time student
- You haven’t had a request for credit declined in the past month
- You don’t have a history of bad credit, such as bankruptcy or CCJs
- You’re not applying for any of these reasons
Yes, our home improvement loans are unsecured, meaning you won’t be borrowing against your property.
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.
- Additional Borrowing
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.
- Credit card
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.
Lending and rate are subject to status. Available to UK residents aged 18+.
Loans are provided by Halifax. Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ.