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Mortgage Hotline - Call Us 0117 313 7780

What is your mortgage for?

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Details sort by initial rateLenderInitial rate Rate type Overall cost for comparisonMax LTVProduct feeMonthly cost Enquire
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £395.59 per month
Max LTV: 60%
Product fee: £2114.00
Overall cost for comparison: 3.5% APRC
Barclays Bank logo 1.24% Tracker 2 years 3.5% APRC 60% £2114.00 £395.59 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £391.71 per month
Max LTV: 60%
Product fee: £1159.00
Overall cost for comparison: 4.3% APRC
Platform logo 1.24% Tracker 2 years 4.3% APRC 60% £1159.00 £391.71 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.24%
Rate type: Fixed Jan-2020
Monthly cost: £391.71 per month
Max LTV: 60%
Product fee: £1634.00
Overall cost for comparison: 4.1% APRC
Yorkshire Bank logo 1.24% Fixed Jan-2020 4.1% APRC 60% £1634.00 £391.71 per month get quotes
Initial rate: 1.24%
Rate type: Tracker 2 years
Monthly cost: £391.72 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.1% APRC
Skipton BS logo 1.24% Tracker 2 years 4.1% APRC 60% £1061.00 £391.72 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.25%
Rate type: Discount 2 years
Monthly cost: £392.18 per month
Max LTV: 80%
Product fee: £1374.00
Overall cost for comparison: 4.1% APRC
Vernon BS logo 1.25% Discount 2 years 4.1% APRC 80% £1374.00 £392.18 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.28%
Rate type: Discount 2 years
Monthly cost: £397.07 per month
Max LTV: 65%
Product fee: £2365.00
Overall cost for comparison: 4.2% APRC
Beverley BS logo 1.28% Discount 2 years 4.2% APRC 65% £2365.00 £397.07 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Jan-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1114.00
Overall cost for comparison: 3.4% APRC
Barclays Bank logo 1.29% Fixed Jan-2020 3.4% APRC 60% £1114.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Feb-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1259.00
Overall cost for comparison: 4.3% APRC
Santander UK Plc logo 1.29% Fixed Feb-2020 4.3% APRC 60% £1259.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Feb-2020
Monthly cost: £394.04 per month
Max LTV: 60%
Product fee: £1259.00
Overall cost for comparison: 4.3% APRC
Santander UK Plc logo 1.29% Fixed Feb-2020 4.3% APRC 60% £1259.00 £394.04 per month get quotes Call direct0117 313 7780 More details
Initial rate: 1.29%
Rate type: Fixed Dec-2019
Monthly cost: £394.05 per month
Max LTV: 60%
Product fee: £1061.00
Overall cost for comparison: 4.2% APRC
Skipton BS logo 1.29% Fixed Dec-2019 4.2% APRC 60% £1061.00 £394.05 per month get quotes Call direct0117 313 7780 More details
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Representative Example:

A repayment mortgage of £120,000 payable over 28 years and 1 month initially on a fixed rate for 2 years at 1.99% and then on the lender current variable rate of 3.69% (variable) for the remaining 26 years and 1 month would require 24 monthly payments of £465.20 and 312 monthly payments of £565.39 and one final payment of £565.19.

 

The total amount payable would be £189,357.67 made up of the loan amount plus interest (£68,161.67), booking fee (£999), completion fee (£30) and valuation fee (£197).

 

In this example the overall cost for comparison is 3.7% APRC representative.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

Can I Get A Mortgage For Home Improvements

Our Mortgage Service - Raise capital For Home Improvements

Use our specialist broker team to raise capital for home improvements:

  • Whole of market service - we work with UK lenders who will lend for capital raising purposes
  • Access to leading market mortgage rates
  • Access to exclusive loan deals not available on high street
  • Fast turnaround - speak to us today if you need to move quickly
  • Looking to raise additional finance on top of your existing mortgage or buy to let mortgage? - we have access to a range of finance solutions

To investigate your mortgage options for raising capital call our mortgage team on 0117 313 7780 or fill in our call back form.

As your mortgage is such an important transaction, good advice is imperative.

mortgage for home improvements

How do I go about getting a mortgage for home improvements ?

If you’re looking to make some improvements to your home such as a; new kitchen, loft conversion or perhaps even an extension you may be wondering if you can mortgage, or remortgage your home to raise the capital.   

If you own your home outright then you could take out a mortgage on it, alternatively if you have an existing mortgage on the property you have two choices, you can either: remortgage to raise capital or you could consider a ‘second charge mortgage’ also known as a homeowner or secured loan. 

  • Remortgage to raise capital: This would involve you taking out a new mortgage on a larger amount of equity thank your existing one. You can then use the capital raised to pay off your existing mortgage and the sum remaining to carry out the home improvements. 
  • Second charge mortgage/homeowner loan: You can take out a homeowner loan in addition to your existing mortgage as long as you have enough equity on your home. Such for example if your home was worth £200,000 and you have £50,000 left to pay on your mortgage, you could take out a secured homeowner loan on some of the £150,000 equity in the property that you own. Second charge mortgages can have higher rates than you would expect from a mortgage, however they potentially may be cheaper if your existing remortgage has a large early repayment fee. 

One of the advantages of home renovation, as not only does it make it a more enjoyable place for you to live, but done so correctly it may add value to your property. However, there is also the risk of putting yourself into negative equity (when the value of your mortgage is greater than your home) this could happen for instance if you ran out of capital halfway through a renovation, leaving your home with unfinished work.

Remember that both a remortgage and second charge mortgage are secured products; failure to keep up with your repayments can result in your home being repossessed. Homeowner loans work on a ‘second charge ’basis while your main mortgage works on the ‘first charge’ this essentially means that you failed to make your repayments and your home was repossessed , your main mortgage would have first priority to be repaid through the sale of the property,

As with many financial products, it is worthwhile to shop around thoroughly beforehand to try and find the best product available, you may also benefit from speaking to an independent mortgage adviser.

An independent whole of market adviser can not only offer you impartial advice about mortgages and homeowner loans, they can also use their expert knowledge of the market to search across different providers to try and find some of the most suitable products for your needs.

If you think you might be able to benefit from the service of a mortgage adviser you can fill in our online contact form to request call back from a Fair Mortgages adviser who can offer you a free initial consultation - Call us on 0117 313 7780 or Request c Callback.

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Call 0117 313 7780 or Request Callback for our Home Improvement Mortgage Service

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