Home improvement is a lifetime need. Wherever your roof is, that's your sense of security. But that roof, along with all the walls, interior, and exterior, should remain strong and in good condition. A home improvement loan in Ireland offers needed financial support for home renovation, repair, and upgrade.
You can avail funds online from a private online lender with instant approval and speedy fund disbursement. Instead of emptying your savings on one purpose, it is better to manage expenses wisely. The loans are affordable with personalised deals and budget-friendly instalments.
Gobigbucks, a private online lender, offers low home loan interest rate in Ireland as per your creditworthiness. If you are planning to add more comfort to your home, apply now through our quick application process. Prove repayment capacity with a regular income and borrow money to pay back in easy instalments.
Features of home improvement loans
Apply Now – Upgrade Your Home Now
Home improvement or home remodel loans are short to mid-term loans that facilitate funds for requirements related to home improvement. These loans can financially support any kind of minor or major upgrade in your abode. Online loans offer timely funds for instant as well as big needs for money. The application process is simple, and you can qualify effortlessly by following an easy eligibility criterion.
Main purposes of a home renovation loan–
Typically, you can obtain funds to -
You can always choose a private lender or a bank for home improvement loans. But for low interest home improvement loans, private lending is a dependable alternative to traditional lending.
Follow the home improvement loan requirements mentioned below and provide accurate details for smooth access to funds.
| Eligibility | Documentation |
|---|---|
| Age limit 18 to 70 years | Identity proof like a driving licence or a passport |
| A legal resident of Ireland with address proof | Address proof like bank statement or utility bill |
| Stable provable income | Bank statement for the last six months |
| Credit history with good payment behaviour in the last six months | Income proof like pay slips. Tax returns of current contracts in case of self-employed |
With the organised approach given below, you can apply for home improvement loans. The steps below will help you take a rational borrowing decision and qualify for the maximum home improvement loan over 10 years.
You can choose from a variety of large or small home improvement loan types for renovation, improvement, or repair. But remember, for all types, basic credit assessment conditions apply, and the interest rate differs.
For proper repayment budget planning, you need to know the cost of a home improvement loan. Also, the repayment plans are directly affected by the loan cost.
| Interest rate | Repayment plans |
|---|---|
| Fixed rate of interest – The interest rate is the same for the complete tenure. This makes instalments predictable and manageable. | Repayment tenure is 1 to 10 years, and you qualify for a period as per your credit purchase power. |
| Variable interest rate – The interest rate changes with time as per the market trends. This makes instalments volatile, making budgeting uncertain. | Typical repayment frequencies available are weekly, fortnightly, or monthly. |
For informed decisions to get the best home improvement loans, you need to know their pros and cons. Knowing about them gives an insight into responsible borrowing habits. Read below before you apply.
| Advantages | Disadvantages |
|---|---|
| Collateral is not compulsory | Unsecured loans have high rates |
| Apply with a fair or bad credit score | Late repayment penalty applicable |
| Quick and easy application process | Risk of losing asset in secured loans |
| Flexible loan terms and amounts. | Limited personal loan amount |
Implement the suggestions below if you actually want timely funds with an affordable home improvement loan APR. The given suggestions are followed by all applicants for the same purpose.
Maintain a good payment behaviour – The last six-month record of bills and debt payments is important in the loan acceptance decision. Hence, if you have a poor credit history, make sure you are not delaying the payments.
Submit all documents – Gathering all relevant documents is vital to ensure on-time credit assessment and fund disbursement. While applying for funds, you do not need to face rejection due to incomplete details.
Submit accurate details – Exact financial details such as monthly income, job, and residential details are vital to submit the loan application. Inaccurate information causes the immediate rejection of the loan request.
Choose an affordable loan amount – Put an amount in the application form that you can afford to repay. For that, you can use a free loan calculator to check your repayment ability as per your current income.
A few factors decide your affordability. With strong repayment ability, you can get a low interest rate equal to getting a no-interest home improvement loan. If you want to check before the lender knows about it, follow the steps below.
If you are in a rush to get funds, you should surely read the mistakes that borrowers make. With the pitfalls, you may fail to get the low-cost home improvement loans, or it can even affect your approval chances.
You can choose or deny us. But the following features of our lending policies help us provide lower home improvement loan interest rates.
Gobigbucks keeps offering seasonal and festive discounts as well. First-time as well as existing customers get the best deals for home improvement requirements. Extension in loan tenure and adjustment in repayment plans are possible if you maintain a good repayment history with us. Along with that, no hidden or early repayment charges are applicable. We aim to make borrowing flexible and affordable for you and work on every aspect to make it happen.