Things to Consider Before Applying
For a Home Improvement Loan

There are many things to consider prior to applying for, and taking out any form of financing, including a home improvement loan.

  • The first question is, do you need the loan?
  • This question has two parts to it.
  • Do you need to make the improvement, and if so, are there other alternatives to borrowing the money?
Woman redecorating

If the improvement is an elective improvement, can it wait until you save up the money to have it done.

If the cost for the improvement is beyond being able to save for it in a relative period of time, then getting a loan may be the better option.

Is the improvement going to add value to your property? If the improvement is not going to add value, or if you are over-improving the property, you may wish to reconsider the improvement.

Prior to applying for any loan, you should review your credit history and credit score to know your chances of being approved. There are also eligibility checkers online that can tell you the chances of being approved for a loan.

These eligibility checks do not affect your credit score and are not hard enquiries on your credit report.

If you have a low credit score, and may not be approved for a home improvement loan, you can look at other alternatives, such as bad credit loans, and also loans with a guarantor.

A Buddy Home Improvement Loan is not based on credit history or credit score, but based on you having a good buddy to guarantee the loan.

If you have a good buddy, you can be approved for a Buddy Home Improvement Loan!

  • Quick approval, usually within 24 hours and the money is in your account
  • Easy online application
  • The loan is not secured by your property
  • Bad credit is OK

Buddy Loans is a direct lender rated 5/5 stars by based on 1128 merchant reviews



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Representative Example


36 months

£158.57 p/m

Total Repayable

Interest Rate
41.16% (fixed)

Representative 49.9% APR.

Terms and Conditions apply. Suitable Guarantor required. All loans are subject to status and affordability checks prior to approval. All applicants must be 18 or over.

Minimum period for repayment: 12 months | Maximum period for repayment: 60 months | Minimum APR 49.8% | Maximum APR 49.9%
Representative example: Amount of credit £3,250 for 36 months. Interest (fixed at 41.16%): £2,464.57. Total amount payable of £5,714.67. Representative 49.9% APR (Variable). 36 repayments of: £158.57.