Finance For Renovations
How can you finance your renovation? There are many ways you can access funds for your home improvements.
Do not let your current loan or self employment, stop you from getting all the information about what type of lending is available for you.
We have a recommended broker.
We have used her ourselves and we have recommended her to our clients and seen the excellent loans that she has been able to secure for our clients so that they can make the home improvements that they need to
Some Loan Options
If you have enough equity in your current mortgage, and you can make the repayments, you can look at a Renovation loan or some other type of refinancing.
The following kinds of loans are also an option
Construction loans – For a major extension a construction loan might be a great option. Funds are drawn to pay your builder for each stage of the project, so you pay interest only on the amount you spend.
Home equity loans -Equity loans depend on how much your property is worth and how much you still owe to the bank. You can borrow a portion of the difference between the two, which is called equity.
Lines of credit – Lines of credit are like credit cards but with lower interest than most cards and they’re secured against your home, allowing you to take out money up to a set limit at any time.
Personal loans – If you need a little more cash to finish a renovation project a
personal loan might be a good option. THe repayment rate is fixed so you can budget for it.
Redraw Facilities – Being able to use extra funds you’ve paid on your mortgage
Refinancing – Your bank might approve an entirely new loan
Ann-Maree has had an extensive career in finance.
- Diploma of Finance and Mortgage Broking Management
– Associate Diploma of Business
- Certificate in Tax Preparation
- Commissioner of Declaration
- Member of MFAA
– Connective Accreditation
Industry and Service Specialisation
– Residential Lending
– Commercial Lending
– Equipment Finance
– Self Employed, Private and Commercial Clients