Buying guide
Home renovation loans: How to get one + how they work
Let’s finance those renos
AI summary
Financing a renovation? A mortgage top-up is often best, adding to your home loan at lower interest rates. This typically requires a fixed-price building contract and lets you borrow up to 80% of the home's completed value.
Alternatively, a personal renovation loan is an option without using your home as security, but has much higher interest rates, shorter terms, and lower borrowing limits. Always proceed with caution and explore all funding options first.
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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