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Finance Options

MULTIPLE FINANCE OPTIONS

 

Make your home improvements more affordable by sourcing finance from a Bank or Credit Union.

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Finance Options

What options are available?

 

There are multiple finance options available from different financial institutions for homeowners, which are designed specifically for Home Improvement.

We have included below some information about the different options available to you, to help you decide which is best for you.

 

 

Please find below, a short description of the 3 most popular Home Improvment Lenders.

 

Bank of Ireland Home Improvement Loan

 

BOI  Loans Available to Homeowners

 

Bank of Ireland offer homeowners a personal loan to cover the cost of any renovation work, or a mortgage ‘top-up’ (equity release) which is an additional mortgage loan secured on your property. 

 

Personal Loan*

 

  • Competitive variable rates from 7.5% APR

  • You can choose to repay your loan over 1 to 7 years

  • Borrow from €5,000 to €65,000
  • Money paid directly into your account
  • Bank of Ireland, do not require you to pledge your savings in order to borrow

 

Mortgage Top-Up*

 

If the value of your home is greater than what the amount of money you owe on your mortgage, you may be able to ‘top up’ your mortgage through Equity Release, which is an additional mortgage loan secured on your property.

  • If you are borrowing for home improvements associated with the Government’s Home Renovation Incentive Scheme you can borrow from €10,000 up to 80% of the value in your home.
  • Competitive variable rates available
  • Choose a term that suits you best, from 5-30 years (to maximum age 70).  

 

 

Please Note:

Lending criteria terms and conditions apply. Applicants must be aged 18 years or over. All rates displayed above are accurate as of 05/08/2016 & are subject to change. Visit www.bankofireland.com for accurate rates and figures.

 

 

BOI | How To Apply

 

Bank of Ireland offer 3 ways to apply for a home improvement loan. These are:

 

  • Apply Online
  • Call their Loans Team on 0818 200 334
  • Visit your local branch

Permanent TSB Home Improvement Loan

 

 

 

 

 

 

AIB Loans Available to Homeowners

 

AIB offer a Home Improvement Personal Loan to give you the financial flexibility you need to carry out home improvement works on your home.

 

Rates and Repayments

 

 Loan Amount 

5 years

7 years

10 years

€10,000

€204.99

€158.35

€124.11

€20,000

€409.08

€316.70

€248.22

€30,000

€614.96

€475.05

€372.32

€40,000

€819.95

€633.40

€496.43

€50,000

€1024.93

€791.74

€620.53

 

Please Note:

Lending criteria terms and conditions apply. Applicants must be aged 18 years or over. All rates displayed above are accurate as of 05/08/2016 & are subject to change. Visit www.personal.aib.ie for accurate rates and figures.

 

AIB How To Apply

 

AIB offer 3 ways to apply for a home improvement loan. These are:

 

  • Apply Online
  • Call on 1890 724 724
  • Visit your local branch

 

Credit Union Loans

 

Credit Union Loans Available to Homeowners

 

Known as a not for profit loan provider, Credit Union provides homeowners with a Home Improvement Loan without charging administration fees or any transaction charges allowing you to pay back your home improvement loan early without penalty, 

 

Your local Credit Union will quote you a competitive interest rate to find a Home Improvement Loan that is right for you, low cost but high value. Credit union interest rates are fair and reasonable and capped by law.

 

Some credit unions offer borrowers an interest rebate at the end of the year, so you may get back some of the interest you've already paid on your loan.

 

Credit Union How To Apply

 

Already a Credit Union Member?

For members, it's as simple as visiting your credit union and discussing your needs. They will give you an application form to fill out.

 

Not A Credit Union Member?

If you’re not already a member, call into your local credit union for more details on how to apply for membership.

 

Your credit union encourages you to manage your money carefully by structuring loans around your needs and your ability to repay. 

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