What are home improvement loans?
Home improvement loans are issued by lenders to homeowners who need a loan for making home repairs, improvements or remodelling their homes. A homeowner can either take an unsecured loan or use the equity in the home as collateral.
A home improvement loan from Uploan is for all UK residents that have a source of income, are at least 18 years of age and have a UK bank account:
- Loan amounts typically vary from £500 to £2,000
- Can be paid back in monthly repayments ranging from 1 month to 12.
What are home improvement loans used for?
There are all types of uses for home improvement loans; whatever you need to do on your property is what these loans are designed for:
- Fixing a leaky roof
- Fitting out a new kitchen
- Adding on a conservatory or extension
- Home improvements and maintenance
- Remodelling the property
Whatever the reason for taking out a home improvement loan, Uploan requires applicants to have a steady monthly income to avoid our customers falling into financial difficulty when they make their repayments. Should our customers experience difficulties with their repayments, they should contact us immediately so we can together find a solution.
Home improvement loans with Uploan
Uploan home improvement loans are unsecured, meaning that they do not require to provide equity as collateral.
Uploan believes that borrowing money should not be complicated.
That’s’ why to apply for one of our personal loans applicants only need to:
- Be 18 years or older
- Hold a UK bank or building society account with a valid debit card
- Have a working mobile phone & email address
- No users with a CCJ or CCJs in the last 6 years can apply
- Must have a regular monthly income of at least £800 (some benefits may be included)
If you meet the above criteria, then it’s quick and easy to apply for a home improvement loan.
If your loan application is approved and you’ve signed the loan agreement online, the money is usually transferred to your current account within the hour.
All we ask is:
- You think carefully about whether you can afford to repay the money you want to borrow and to be open in your dealings with us.
- Take care of any online log-in details and other security information to help prevent fraud and help us to protect your data.
- Carefully check your balance statements to make sure they are accurate. If anything isn’t right, please get in touch with us.
Good to know
Paying off your home improvement loan
Multiple repayment options make it easier for borrowers to repay their home improvement loans and never miss a repayment.
Either borrowers can have funds deducted directly from their debit card each month as a payment request or they can create a standing order for scheduled monthly payments to repay the loan and interest.
Uploan knows that monthly expenses alternate, with income during some months higher than others. So why don’t home improvement loan repayments do the same? Fortunately, at Uploan, our home improvement loans have built-in multiple repayment options.