Financing your home improvements
As Christmas and the New Year pass us by, many of us in the UK start to think about home improvements, and start preparing to spend the spring decorating and repairing our homes. However, home improvements cost money, and it is at this time of year that many people are still feeling the pinch following the festivities and the cost of present buying, partying, and entertaining.
If your savings are looking a little thin but you still want to get your home into shape by carrying out improvements there are a number of options available to you. Some people decide to finance their home improvement projects via their credit cards, which is fine if you are undertaking a smaller project that is unlikely to cost too much, if you have a credit card that enables you to make interest free purchases for a specified period, and if you are able to repay the money that you spend on the card within the interest free period.
However, for larger projects and in cases where you want to spread the repayments over a longer period, a specialist home improvement loan could prove the ideal solution. You can get these loans on a secured and an unsecured basis, although a secured home improvement loan is likely to prove the most affordable if you are a homeowner. By taking out a home improvement loan you can enjoy increased borrowing power, generous repayment periods, affordable monthly repayments, and more structured repayments than you would get with a credit card.
You will find a wide range of lenders in the UK that are able to offer home improvement loans, and those looking to carry out home improvements in the Spring are advised to start checking out the different deals and comparing what’s on offer to maximise the chances of getting a great value home improvement loan to fund their project.
Alisdair Milton
10th January 2007
More Information:
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How have Britons financed the billion of pounds spent on home improvements this year? Mostly through personal loans, although other forms of payments have been used as well.
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