Are you dreaming of doing up your home? Whether you are planning a complete kitchen overhaul or upgrade energy efficiency, large-scale renovations often require significant funding.

Here comes in Brokevo. As a responsible broker for home improvement loans, we help arrange tailored financial solutions for you to make your renovation dream a reality.

Why choose Brokevo for a home improvement loan?

Brokevo is a credit broker, not a direct lender or a comparison website.

  • The benefit of choosing us is that we review offers from a large panel of lenders and introduce you to those that match your financial circumstances.
  • We check your eligibility by conducting soft credit checks before applying, which prevents multiple rejections.
  • You will most likely be offered exclusive deals that online lenders do not provide directly to borrowers.
  • Once you submit your application to us, you leave the whole legwork to us. We will do the heavy lifting, which includes handling complex paperwork, verifying documents and getting quotes from lenders.
  • Since we have connections with reputed direct lenders, we can help negotiate for better interest rates on your behalf.
  • You do not have to pay any fees, as our service is free of cost to our borrowers. Our partner lenders pay us.
home-improvement loans
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What is a home improvement loan?

A home improvement loan is an unsecured or personal loan that you use to carry out refurbishment projects. Home improvement loans in Ireland can help you cover a wide range of renovation projects that include but are not limited to:

  • Kitchen remodelling
  • Bathroom upgrades
  • Adding rooms
  • Attic or loft conversion
  • Smart home technology installation
  • Roof repair
  • Insulation
  • Landscaping
  • Outdoor living spaces

How do our home improvement loans work?

The process of loans for home renovation in Ireland works the same way as any other standard personal loans.

  • Submit the application form to us

    Fill out the application form and submit it to us. We will review your financial details and credit history by running soft inquiries to understand which lenders’ criteria you match.

  • Compare offers

    We will submit your application to our partner lenders for review. Those whose acceptance criteria you match will offer the estimated quote. This includes details of APRs, interest rates, and repayment schedules. Compare offered deals and pick the one.

  • Receive money

    Once you pick your lender, they will run hard credit inquiries to determine your creditworthiness. If you are approved, you will receive money. Brokevo generally submits your application to lenders who are most likely willing to approve you.

  • Start repaying the debt

    Once you receive money, you can use it to complete your renovation project. The loan is paid back in fixed instalments over an extended period of time.

What are green home improvement loans?

You might want to go green. If green upgrades are part of your home refurbishment, you can qualify for lower interest rates from our lenders.

You will need to prove that more than 50% of the borrowed sum will be utilised only on the green project, such as solar panel installation and energy-efficient heating controls.

The government also provides grant schemes such as the vacant property refurbishment grant scheme and the home energy upgrade loan scheme . Both schemes can help you fund green projects. However, you are eligible to apply for only one of them at a time.

Under this scheme, you can borrow between €5,000 and €75,000, with a repayment term up to 10 years. If you cannot secure large funds for your project, you can apply for a home energy upgrade loan through Brokevo to meet the gap.

How much do loans for home renovation in Ireland cost?

There is a possibility of getting large loans for home improvement in Ireland at lower interest rates, especially if you need money for a green project. However, it is not guaranteed that you will always qualify for the most affordable rates, as it depends on multiple factors.

Factors that affect the loan cost include :

  • The APR : it determines the total cost of a loan, including interest and fees. Lenders set the APR based on your financial profile. If you are found a high-risk borrower, you might end up with a higher APR.
  • The loan term : most borrowers choose longer repayment schedules as this reduces the size of monthly instalments, but it results in paying more interest overall.
  • The loan type : green loans are more affordable than standard home renovation loans.
  • How much you currently owe : your existing obligations also influence the borrowed amount and total cost of the loan.

What factors should you consider while applying for a home renovation loan?

As a credit broker, we can help arrange an affordable deal, but to find the best home improvement loans in Ireland, you will also have to do some homework.

We can provide you with offers from various lenders, but the onus of choosing the most suitable deal is on you. Try considering the following factors :

  • Interest rates : figure out whether monthly instalments fit in your budget
  • How much you need to borrow : if you need a small amount of money, you should consider alternative borrowing options such as small loans and no guarantor loans.
  • How long you will repay : if the repayment term is longer, you will need to consider changes in your financial circumstances. You should have an alternative repayment plan in case your financial condition is no longer the same.
  • Your credit rating : your credit history should be stellar.

Can you apply for a home improvement loan with bad credit?

If you are applying through Brokevo, you can submit your application despite a bad credit history. We will submit your application to only those lenders on our panel who offer bad credit loans for home renovation in Ireland.

They will propose interest rates and repayment terms. Compare them carefully. Note that home improvement loans for people with bad credit are expensive. You should carefully consider your repayment capacity. Do not borrow more than you need.

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FAQ's

What will be the brokerage fees if I choose Brokevo?

Can I get a loan of €100,000 in Ireland to renovate my home?

What is the APR (Annual Percentage Rate)?

Can I borrow €50,000 for home renovations in Ireland?

Do I require a guarantor for a home renovation loan?

How long does it take to complete the process?