No matter how hard you try to budget, unexpected bills can leave you short of cash. With a house repair loan, you can get enough funds to cover urgent expenses, whether it’s for roof repairs, pipe replacements, boiler repairs or another type of essential repair or home improvement.
Although there are many benefits to house repair loans, it’s important that you’re aware of the financial responsibilities too. Here at Tendo, we’re dedicated to matching customers with the best loans for their personal and financial circumstances. Let’s take a look at what’s involved with a loan for repair of a house and how to apply for one if you decide it’s the right option for you.
What is a House Repair Loan?
A house repairs loan is a type of short term loan that can provide you with fast cash to cover the cost of urgent home repair and renovation expenses. The key characteristics of loans for house repairs include:
- Short term repayments: you can borrow a house repairs loan over a period of 3 to 36 months
- Higher interest rates: as a short-term loan, house repair loans tend to have higher interest rates than traditional loans
- Online application: apply for a loan for repair of your house using our simple online form
While house repair loans can help you cover urgent expenses, you need to borrow responsibly and ensure you can meet the repayment terms.
How do House Repair Loans work?
The lending process for house repair loans is fast and straightforward. Just complete our online application form and we’ll use the information to match you with our panel of over 50 lenders. Once you have reviewed and accept a quote, you will need to e-Sign the agreement and the funds will swiftly be transferred into your account. However, it’s important to remember that you’re under no obligation to accept the house repairs loan quotes given to you.
Can I apply for a House Repair Loan today?
It couldn’t be easier to apply for a house repair loan. Once you have completed our online form, our panel of lenders will review your information and may offer you quotes. You will need to carefully review the terms and conditions of the quotes before deciding if you want to accept the loan agreement. After reviewing the quote’s terms and conditions (including the interest rate and repayment schedule), you can e-Sign the agreement. If you have any questions, you should directly contact the lender or contact the team at Tendo for advice.
There is certain lending eligibility requirements you need to meet before you apply for a house repair loan. Applicants must be at least 18 years old, a UK resident and earn a minimum net income of £500 per month. You must also have a bank account that your income is paid into, along with an email address and phone number.
What types of House Repair Loans are available?
There are two main types of loans for house repairs:
- Instalment loans – designed to be paid back in pre-arranged monthly instalments
- Payday loans – these loans help cover your expenses until you are next paid
At Tendo, we are committed to helping you find the best loan. We work with a panel of over 50 lenders who may be able to offer you a house repair loan in the UK.
Why Choose Tendo for a House Repair Loan if you have a bad credit history?
We work with a panel of lenders who consider applicants of all credit types. You could be approved for low credit score loans even if you have been turned down for loans elsewhere. As a broker rather than a direct lender, we can help match you with the right lenders for your unique financial circumstances. We are on hand to guide you through the entire process, from applying for a loan to reviewing and accepting quotes.
What to do if you’re struggling with debt
Although a loan for repair of your house can be a fast way to access funds, it’s important you understand the financial implications. If you need advice or assistance, it’s advisable to seek help from any of the following services:
If you feel you are struggling, or may struggle with your loan repayments, we recommend you always speak with your lender at the earliest opportunity
