Winter is very much on its way, and as the mercury goes into freefall and the clouds go a darker shade of grey, we’ll inevitably be consigned to more time in our homes over the coming months. That need not be a bad thing, but what it surely will do is cast more scrutiny on all the little things that need fixing, or indeed, the grand plans you may have to give your pad the facelift it deserves.
Many of us harbour dreams of re-doing bathrooms, extending our house, converting that unused loft into a usable spare room or putting in a fire place we always wanted. Then, of course, there is increasing desire to move towards energy efficient measures such as wall insulation and double glazing of windows.
With spare disposable income under strain given the incoming Christmas season, such costly enhancements may feel like a distant dream. The Green Deal will provide a financial helping hand for a few, but the masses will likely not be eligible.
So, how to get your hands on the funds you need to convert your abode into a dream home?
Well, it’s not as tough as you might think. In the rapidly expanding world of alternative finance, there are numerous providers of home improvement loans which don’t cost an arm and a leg. In fact, peer-to-peer lending platforms in particular are able to offer such personal loans at APRs which are not only competitive in the unsecured loans marketplace, but also stack up favourably to mainstream credit providers on the high street.
The reason for this is that by matching those who have extra money to lend directly with borrowers in need of a loan via their online platform, all the inefficient, margin-munching intermediaries are eliminated from the equation, thus resulting in both lender and borrower benefitting from better rates.
In addition, some platforms such as Lending Works allow borrowers to make overpayments and/or early repayments without incurring any fees for doing so. There isn’t any fine print, nor are there hidden fees. It’s simply good-value loans with affordable repayments.
It’s quick and easy too
Perhaps of even greater appeal though is the convenience with which loan applications can be made. A personalised online quote can be acquired in a matter of minutes, with the subsequent application process being similarly quick. The application is then underwritten by a team of credit experts who return a decision via email within one working day. If approved, the funds will then follow shortly after, and you’re away!
As the housing crisis escalates, those fortunate enough to buy will often be pushed to their financial limits. Spare money to improve your home is even harder to come by, but that shouldn’t stop you from making your home into a palace. Any stigmas surrounding taking a sensible unsecured loan are fast melting away, and even more so for home improvement loans. After all, it’s ultimately something to boost your asset value, thus, in essence, making it a sound investment.
So shop around, and find the loan that best suits you. But perhaps the first port of call in your quest to make your house a cosy home is in the consumer-friendly world of peer-to-peer lending.