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If you are thinking of making major home improvements, but do not have the cash flow, then a home improvement loan is worth investigating, if you own your property. Maybe you are thinking of a new roof to prevent costly emergency repairs, a new kitchen, new plumbing, or energy saving double paned windows.
If you have a good track record of paying, you may find that your current mortgage provider is keen to give you a good fixed rate of interest on an unsecured home improvement loan depending on the amount you want to borrow. You receive the lump sum in order to pay for work and then repay that sum in monthly installment plus interest over an agreed period. Other lenders may offer a slightly higher fixed or variable rate if the loan is unsecured. Occasionally work is covered by government home improvement loan, consult an advisor to see if you can benefit from this or possible tax deductions.
Have you been putting your dreams on hold? Thinking that there will never be a way to make those much needed home repairs or improvements? With a home equity loan or line of credit, you can do it.