Home Improvements

Home Improvement Loans

Now more than ever, making your home work for you is important. If you want to upgrade your tech to get that office you always wanted, or just open up more space for the family, there has never been a better time to get a home improvement loan to make those dream plans a reality.

So whether you’re extending, converting, repairing or refreshing, our home improvement loan can help push those plans across the line.

We’ve made it quick and easy to get a personalised quote.

With loans from £1,000 and £25,000** (or £300* to £50,000 for TSB current account customers).

Our lowest rate: 6.9% APR representative for loans between £7,500 and £25,000* for 1-5 years.

  • A personalised quote in minutes. And a decision in under 30 seconds
  • Our personalised quote won’t affect your credit rating, and you’ll get the rate you’re quoted
  • You can get the money in your account today**
  • Added flexibility with up to two, one-month repayment holidays every 12 months***
  • View your loan online with our mobile app or Internet Banking

* To apply for a loan between £300 - £999 and 25,000 - £50,000 you need to hold a TSB current account.
** If you apply before 6pm and have held a TSB current account for more than 3 months, the money should be in your account the same day. If you apply after 6pm, the money should be in your account the next working day (excludes Sundays and bank holidays).
*** Repayment holidays are subject to approval. If you do decide to take a repayment holiday, interest will continue to be charged and the length of your loan will increase, meaning you’ll pay more interest.

Home Improvement Loan Calculator

Representative example:


I need to borrow: Help Text
£
£ 300 £ 50,000
You can only borrow between £ 300 - £ 50,000
You can only borrow between £300 - £50,000
And pay it back over:
1 year 7 years

Fraudsters will often try to trick you into taking out a loan.

If you’re applying today: to make an investment, to help the National Crime Agency or a Police Officer to catch a criminal, or to send money to somebody you’ve met online but never in person. STOP. These are almost certainly frauds, and you may be about to become a victim. For help and support, please call our fraud team on 0800 096 8669.

Borrowers must be UK residents only and aged 18 or over. Lending is subject to status and actual rate offered will depend on our assessment of your personal circumstances.

The maximum APR we offer is 39.9%, but we will tell you your personalised rate before you apply. For loans between £1,000 and £25,000 the minimum repayment term is 1 year, the maximum repayment term is 7 years. For loans between £25,000.01 and £50,000 the minimum repayment term is 1 year, the maximum repayment term is 5 years. For loans £300-£999.99 to minimum repayment term is 3 months, the maximum repayment term is 12 months.

Home Improvement Loans FAQ’s

Loans for home improvements allow homeowners to borrow an agreed amount of money, which can be used for home improvements and renovations.​

A home improvement loan is an unsecured personal loan, meaning you can take out the loan without putting up an asset as security, such as your house.

Home renovation loans provide homeowners with the money for a home improvement upfront, allowing them to borrow what they need and pay it back within an agreed timeframe. At TSB, we can provide a personalised quote in minutes. We can even send the money to you on the same day, if you have held a TSB current account for more than 3 months and apply before 6pm.

TSB’s home improvement loans have a fixed interest rate, so you can pay back the same amount each month.​

As well as choosing the amount to borrow, you can also decide the repayment period.​

Carrying out home improvements could also increase the value of a home.​

TSB’s home improvement loan can be used for home renovations and repairs, however not major renovations or extensions. Major renovations are defined by projects where more than 25% of the surface area of the building undergoes renovation.

As remote working is becoming more popular, a home improvement could be used to create or improve a new home workspace.​

Home improvement loans are also commonly used to carry out repairs in homes. Should your home require immediate repairs, a home improvement loan can give you access to funds quickly, so you can get the issue repaired and prevent further damage from occurring.

Home insurance can cover for some home renovation, such as the risks when carrying out home renovations and structural works. If any home renovation goes wrong and requires repairs, this can be covered by home insurance. You should be sure to let your home insurance provider aware of any building work, as you may be unable to make a claim otherwise. Home insurance will not cover cosmetic improvements or redecorating, but they may cover any repairs required from structural alterations and renovations gone wrong.

General renovation and home improvement are also main reasons for a home improvement loan. This can include installing a new bathroom or kitchen or redecorating a bedroom or living room.

A home improvement loan is different to a home equity loan.

​TSB’s home improvement loan is unsecured, meaning the amount borrowed isn’t taken out against the borrower’s house. This gives more flexibility on what the loan can be used for and means the lender doesn’t have a claim against the borrower's home, in the event the loan cannot be repaid.​ However, legal action will be taken if the loan is not repaid.

A home equity loan on the other hand is secured, meaning a loan is taken out against the homeowner’s house. Home equity loans can have lower interest rates, however, if the borrower is unable to repay the loan, the lender can take the money through the equity of the borrower’s house.​

Customers can also only qualify for an equity loan if there is any equity in the property. If the value of the property decreases later, the customer must still repay the whole amount borrowed, even if the home is still in negative equity.

You do not need to be a current TSB customer to apply for a home improvement loan, if the amount borrowed is between £10,000 - £24,999.​

If you wish to apply for a home improvement loan above or below this amount, you will need to hold a TSB current account.​

Borrow Well

If you are looking to borrow some money, read our guide on borrowing sensibly.

Read the guide

How to apply for a loan

 
To be eligible for our personal loan, you must:
  • be 18 or over
  • be a resident of the UK with no history of adverse credit
  • have had a TSB bank account for more than 3 months
  • make repayments by Direct Debit
  • be a permanent paid employee, self-employed or retired with a pension
  • Satisfy us that you can afford to pay back the loan
Already a TSB customer?

If you’re an existing TSB customer it’s quicker to log in to get your quote and apply​.  

Log in

 

New to TSB?

Please make sure you’ve chosen the loan you would like a quote for, using the calculator above​   

Apply now

Apply over the phone

You can arrange a convenient time to talk to us about a loan over the phone. Lines are open Monday to Friday 8am-6pm. Calls are charged at a local rate.  

Apply in a branch

If you’d like to arrange a convenient time to talk to us in branch about a loan simply click below to request an appointment.  

Adobe digital forms

We use Adobe Sign for this kind of request. Adobe will pass the information you provide to us in a secure manner and won’t process it in any other way. Information on how we use your data can be found in our Data Privacy Notice.