Home improvement loans

A home improvement loan is designed to fund home renovations. This could be for your kitchen, bathroom, loft conversions - whether you’re buying your first home or hopefully your last, make it truly feel like home with your own changes. If you can afford to improve your home, you could benefit as upgrades can increase the value of your property, allowing you to sell it for more in the future. That’s why it’s especially worth considering before putting your property on the market.

With the ability to shop around online for different types of loans, getting rejected by your bank isn’t necessarily a problem as lenders like Likely Loans may be able to give you access to bad credit loans despite a low credit score. We understand that your financial history may not reflect your position now, so when applying for a home improvement loan with bad credit, lenders will look at your current financial situation and other indicators to decide whether you’ll be able to afford the fixed monthly repayments on the loan.

If you’re worried about being rejected because of your bad credit history, you can check your eligibility with us without having an impact on your credit score. We do soft search credit checks which mean your credit ratings won’t be affected at this stage. Simply enter a loan amount and term into our online loans calculator with a few of your details to receive your personalised loan quote.

Yes. We offer unsecured loans which mean you neither need to secure your loan against your assets nor need someone else to be a guarantor as part of your application.

No. Responsible lending is our priority so we carry out credit checks to make sure we aren’t lending to anyone who can’t afford it.

As with most loan providers, our lender requirements are that you’ll need to be over 18, a UK resident, employed and have a bank account and debit card to complete a loan application. In terms of income, you should be able to comfortably afford monthly payments from your regular income - for example, as a guide, £700 per month would be a minimum. We’ll look at your credit history and personal finances before making our decision.

Applying for any loan with Likely Loans is quick and simple and you’ll find out if you are eligible within minutes. After that, if you meet the loan approval criteria, we aim to pay your money into your bank account the same day you are approved. During busy times, it may take up to 5 working days.

APR is the annual percentage rate and important for calculating the cost of money borrowed. Interest rates, fees, how often it’s charged and all other costs contribute to the APR. Representative APR is the APR we'll offer to at least 51% of people who are eligible - it's not a guarantee. The remaining customers that are also accepted will be offered a different APR than the one advertised based on individual circumstances. Please note, the APR offered is based on your personal situation and is dependent on many different factors. As such the APR offered may be different from the representative APR.

Yes, you might. As a lender, we offer our representative APR of 39.9% to at least 51% of customers who are accepted for a loan. If you have bad credit, you may be charged a different rate.

For a home improvement loan, you have plenty of borrowing options, with £500 to £5,000 available from 12 to 36 months paid in monthly instalments.

You may be able to top up your loan in the future if you become eligible. You can check your eligibility through your online account.