Home Improvement Loans

The question of tax deductibility is a common question for those considering a home improvement loan. However, the answer is complex and can depend on the type of project you have in mind. For tax advice on your home improvement plans, please contact HMRC or a qualified accountant.

If you’ve just bought a new home, it’s only natural to want to make changes. At Novuna Personal Finance, our low APR unsecured loans can help you get started as soon as you move in. However, if you’re interested in borrowing on your existing mortgage, you should contact your mortgage provider for more information.

With a home improvement loan from Novuna Personal Finance, you can borrow from £1,000 up to £25,000 and repay it over 2 to 5 years. So whatever the size and scale of your project, we’ll have a loan amount to match your plans.

The main difference between an unsecured personal loan and a secured personal loan is that with the latter, borrowers put up assets to ‘secure’ the loan, for example, with a mortgage where the property becomes the collateral. At Novuna Personal Finance we specialise in unsecured personal loans. So when you take out a home improvement loan with us, there’s no collateral or security required. Our lending decisions are based purely on your creditworthiness and your ability to repay the loan.

Yes, you can make extra payments on your Novuna Personal Finance home improvement loan whenever you want, without paying any additional charges. These overpayments will reduce the term of your agreement, so you’ll still pay the same amount every month in your Direct Debit, but you’ll pay off the loan sooner.

If you’d like to make overpayments on your loan, the easiest way to do so is by managing your account online. To make a one-off payment or increase your monthly payment, simply login using your details or call our customer service team on 0344 375 5500.

If you’re in a hurry to get started on your home improvements, you’ll be pleased to know that we’ve designed our application and approval process with speed and ease in mind. Applying for a home improvement loan online with us takes just 10 minutes. We’ll make an instant decision and the funds could be in your account within 48 hours.

If you’re ready to apply for a loan for home improvements, there are few things you should have to hand before you begin your online application. You’ll need your employment details, including annual income, your bank details and your address history from the last five years. At Novuna Personal Finance, we also have our own eligibility criteria that you’ll have to fulfil.