Home Renovation Loans Without Touching the Mortgage

A personal loan for the kitchen, the bathroom, the deck or the roof that cannot wait. A set amount, a set term, and your home loan left exactly as it is.

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Takes about 3 minutes. No credit check to get a quote.

Trusted by over 80 lenders

What we sort out for you

Renovation money can come from a few places. We line up the personal loan options next to what your equity could do, so you choose with the real numbers in front of you.

Personal loan or equity
A home loan top-up can carry a lower rate but stretch the cost over 25 years or more. We show both side by side.
Secured or unsecured
Most renovation loans are unsecured. If you have a car or another asset to offer, a secured loan can bring the rate down.
Sized to the quote
Bring the builder or tradie quote. We size the loan to the job plus a sensible buffer, not the most a lender will approve.
Money when the work starts
Funds usually land in your account, so you can pay the deposit and progress invoices as the job moves along.
Extra repayments
Some loans let you pay extra or clear the balance early at no cost. Handy if you sell or refinance once the work is done.
Bigger jobs
Unsecured limits run out on large builds. Past that point we look at secured options and what your home loan could do.

How a renovation loan works

A renovation loan is usually a personal loan used for work on your home. You borrow a fixed amount, it is paid to you in one go, and you repay it over a set term, often between one and seven years. Most are unsecured, so nothing is tied to the house and there is no valuation or mortgage paperwork.

The other common route is to borrow against your home, through a top-up, a redraw or a refinance. That can mean a lower rate, but the cost is spread across the life of the mortgage. Big structural work like a second storey usually suits a construction loan that pays the builder in stages. For those, start with home loans.

What people use it for

Kitchens and bathrooms

The two rooms that add the most value and cost the most to redo. A fixed loan keeps the budget honest.

Outdoor and decks

Decks, pergolas, paving, fencing and landscaping, priced up and paid off on a schedule.

Repairs that cannot wait

A leaking roof, a dead hot water system or storm damage your insurance does not fully cover.

Energy upgrades

Solar panels, batteries, insulation and efficient heating and cooling. Some lenders offer a lower green rate for these.

Getting ready to sell

Paint, flooring and a tidy garden before the agent lists the place, repaid once it sells if the loan allows.

Granny flats and fit-outs

Smaller extensions and fit-outs fit a personal loan. Larger builds usually suit a construction loan instead.

What lenders look at

Income and how stable it is

Lenders want to see the repayment fits comfortably after your living costs and your mortgage or rent.

Your credit file

Repayment history matters most. A thin or patchy file is not always a no, but it does change the rate.

What you already owe

Home loan, car loan, cards and buy now pay later accounts all count, including card limits you are not using.

The job and the amount

A quote helps a lender see what the money is for and that the amount makes sense for the work.

Security, if offered

A secured loan puts an asset, usually a car, behind it. The rate drops, but that asset is at risk if things go wrong.

Typical terms

Common ranges, not promises. Every lender sets its own policy.

  • Amount: from a few thousand dollars to around $50,000 or more unsecured, higher with security.
  • Term: usually one to seven years.
  • Rate: fixed or variable, priced on your credit profile rather than the property.
  • Fees: an establishment fee is common, and some loans add a monthly account fee.
  • Paying it off early: variable loans are usually flexible. Some fixed loans charge to pay out early.
  • Timing: once approved, funds are often paid within a few business days.

An example

Illustrative only. A $30,000 renovation loan at an example rate of 11.00% p.a., fees not included.

Comparison rate 11.00% p.a., based on a $30,000 loan over 5 years with no fees.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

TermMonthly repaymentTotal interest
3 years$982$5,358
5 years$652$9,136
7 years$514$13,149

Stretching from three to seven years almost halves the repayment but more than doubles the interest. A home loan top-up can look cheaper on the rate, but spread over 25 years the interest on the same $30,000 can end up higher than any of these. The cheapest option is usually the shortest term you can comfortably carry.

These figures are illustrative only. They are not a quote, a current rate or an offer of credit. Your rate, fees and terms depend on the lender and your circumstances.

Personal loan, home loan top-up or credit card?

Personal loan

A fixed amount cleared in one to seven years. Your home loan stays as it is and the end date is clear.

Home loan top-up

Usually a lower rate, but tied to the house and paid off over decades unless you pay it down faster. See home loans.

Credit card

Fine for a small job you can clear quickly. Card rates are usually far higher, so a big balance gets expensive. See personal loan vs credit card.

What to have ready

  • Photo ID, such as a driver licence
  • Recent payslips or other proof of income
  • A few months of bank statements
  • The builder or tradie quote, if you have one
  • A list of your current debts and repayments
  • Your home loan details if you want to compare an equity option

Renovation loan questions

Can I use a personal loan for renovations?

Yes. A personal loan can pay for most renovation and repair work, from a new kitchen to a roof repair. You tell the lender what it is for and the money is paid to you to spend on the job.

Is it better to use the equity in my home?

It depends on the size of the job and how fast you will pay it back. Equity often means a lower rate, but the cost is spread over the life of the mortgage. For smaller jobs you plan to clear in a few years, a personal loan can work out cheaper overall.

How much can I borrow for a renovation?

That comes down to your income, your expenses and what you already owe. Many lenders go to around $50,000 unsecured, and more with security. We work out a figure that fits your budget, not just the maximum.

Do I need a builder's quote?

Not always, but it helps. A quote shows the lender what the money is for and helps size the loan properly.

Can the lender pay the tradie directly?

Most personal loans pay the money into your account, so you pay deposits and invoices yourself as the work goes. A few lenders can pay a supplier directly.

Are there special loans for solar and batteries?

Some lenders offer green loans with a lower rate for eligible energy upgrades like solar, batteries and efficient appliances. We can check which ones fit.

How fast can I get the money?

Once your documents are in and the loan is approved, funds often arrive within a few business days.

Will applying affect my credit score?

Comparing here does not touch your credit file. A formal application does involve a credit check, and we tell you before that happens.

Looking at something else? See home loans to compare a top-up or refinance, debt consolidation to roll other debts in, or personal loans for the full picture.

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