RBS Home Improvement Loan
RBS (Royal Bank of Scotland) offer dedicated home improvement loans for anyone wanting to extend or update their home.
Home improvement loans from RBS can be used for a variety of home improvement projects, including loft conversions, extensions, new kitchens and bathrooms, upgrading your central heating and adding a conservatory.
RBS Home Improvement loans are offered as unsecured personal loans, however, if you already have a mortgage with RBS you may also be able to take out an additional secured loan for home improvements.
Benefits of an RBS Home Improvement loan
With an RBS Home Improvement loan, you can:
- Borrow from £1,000-£25,000 (or up to £35,000 if you apply in branch)
- Repay over 1-5 years for loans under £2,500
- Repay over 1-10 years for loans over £2,500
- Have funds in your account the next working day after you apply (subject to circumstances)
Can you get an RBS Home Improvement loan?
To qualify for an RBS home improvement loan you must be:
- At least 18 years old
- A UK resident
- Planning to use the funds for home improvement purposes only
Please note: You may be required to provide proof of the home improvements that you intend to make when applying.
RBS Home Improvement loan rates
The interest rates you will pay on a home improvement loan will depend on a number of factors.
- The amount you need to borrow
- How long you want to repay over
- Your credit rating
- How much debt you already have
- The current Bank of England Base Rate (or equivalent)
RBS secured loans for home improvements
Depending on your borrowing needs and personal circumstances, taking out a secured loan against your property can sometimes be a better choice to fund home improvements.
Reasons to consider a secured loan for home improvements include:
- You need to borrow more than £35,000
- You want to get a better interest rate
- You want to repay over a longer period
- Your credit rating isn’t good enough to qualify for an unsecured loan
Whether a personal loan or secured loan will be a better choice for you will depend on a number of factors. It is highly worth speaking to an independent financial expert, such as a loan broker, to help you make the right decision for you.
Please bear in mind that if you fail to keep up with the repayments on any type of secured debt, you could damage your credit rating and put your home at risk.
Compare home improvement loans from RBS and other leading lenders
Interest rates on home improvement loans tend to vary considerable from lender to lender. To get the best deal on your home improvement loan, you therefore need to compare loan products from the widest possible range of lenders.
Our loan calculator at the top of the page allows you quickly and easily compare home improvement loan deals from all the leading lenders, making it much simpler to find the best deal for you.
Our deals are regularly updated, so you can always be confident of finding the most attractive loans currently available.