Renovating your home
Home loan expertise to help pay for your home renovations.
So you’ve decided to renovate but undoubtedly have a lot of questions about how to fund it. You might be wondering how much you can spend, what you can afford to repay, whether the bank lends you enough to pay for your renovation and how you pay the builder. We’re here to give you all the answers and guide you through the process to get a successful outcome.
We have helped clients finance renovations of all sizes, from large projects like lifting a Queenslander and adding new rooms underneath, through to small renovations like adding a back deck or upgrading the kitchen.
The most common approach to finance your renovation is to get an increase or top up on your current home loan. Whichever approach we take, we will ensure you get the right loan and that it’s set up properly from the start. We will show you how to get your finances ready to apply for a loan and advise you how to manage your budget through the renovation.
We have long term relationships with all major lenders and with our expertise in banking policy, you can feel confident that we have a good chance of getting your renovation loan approved.
Best of all, we don’t charge you a fee to use our services as we are paid by the lender when your home loan settles.
Top 3 tips
Spend at least six months to a year living in the house before you renovate so you get a feel for it.
If you’re moving out during the renovation, make sure you have a buffer saved to pay rent as well as loan repayments.
Your loan repayments are ‘interest only’ (i.e. lower) during the renovation to help you manage cash your flow.
Home Renovation Guide
Here’s our simple process to get a renovation loan.
1. Loan preparation
2. Design and planning
3. Choose your tradespeople
4. Start the renovation loan application process
5. Sign your loan application
6. Renovation loan approved
7. Construction to Completion
What our clients have to say.
Viktor was extremely professional and knew what he was talking about. He offers great service for everyone and tells you the honest truth. He tells you what you need to hear and will keep you in track to reaching your goals. Honest, professional and knows-it-all.
Victor was so helpful and patient with us when buying our first home. No question was stupid, he responded to emails/texts promptly, after hours appointments weren’t a problem. Would definitely recommend him.
Victor was absolutely fantastic and we could not have asked for a better mortgage broker. He was very professional and so helpful every step of the way from first meeting up until everything was settled. Victor made sure everything was as easy for us as possible. Victor definitely had our best interests and goals at the forefront. Absolutely deserves 5 stars!
Looking for guidance before you get started?
In most situations, you will pay lenders mortgage insurance if you don’t have a 20% deposit when applying for…
How to pay for a Home Renovation [Guide for 2021]. Exciting and daunting all in one! Are you thinking a big renovation where all...