Renovation Loans
Helping you upgrade your existing home.
Upgrading your existing home is a great way to add value or grow space for your family. Finding suitable lending for cash out or construction can be tricky which is why using a broker is important.
At Zel Finance, we will find the right lending for your plans and manage the process from application to approval. Getting funding for your home renovation is a great way to determine how much you have to spend and help you stick to your budget.
Financing renovations:
There are many ways to fund your renovation depending on the size of the project, your financial position and available funding options. Below are a few funding options for renovation, we can help you determine which option will best suit your needs.
Using equity: You may be able to access the equity in your property to increase or redraw on your home loan.
Top-up: Increasing your existing home loan may be a suitable solution rather than taking out a seperate loan.
Redraw: Additional repayments on your mortgage may be accessible for your renovation.
Refinance: It might be best to refinance your existing home loan to ensure it suits our needs.
Construction loan: This will allow you to draw funds over time from the total loan amount as invoices for construction arrive. This option can help save money as you only pay the interest on the funds your draw out until the total loan amount is fully drawn.