Interest rates will vary. It is also worth bearing in mind that some lenders are only interested in lending to people whom they regard as a 'safe risk' and they will be offered lower interest rates.

A personal loan could be best option for you if you are looking to borrowing money for between one and five years and is particularly ideal if you have other debts that you're looking to consolidate into one loan to reduce your overall monthly payments.

There are two basic types of personal loan, secured and unsecured.

With an unsecured personal loan you will normally make payments on a regular basis to lender who, if you should default on payments, would have to take legal action to obtain outstanding money.

With a secured personal loan, lender will ask for amount that you borrow to be 'secured' against a piece of your property, very often your home, which would become property of lender in case of default.

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The mortgage lender will not discourage this home loan, as it is in their interests for improvement work to be carried out on home they are lending on, considering that they effectively own it until mortgage is repaid.

Loans secured for home improvement are flexible in duration. The loans are independent of mortgage loans and are typically available with loans repayment terms of between two years and twenty five years.

With home improvement loans homeowners can borrow anything from £5,000 to £75,000 for a larger home improvement project.

There are countless home improvement projects that can be undertaken using improvement loans. New interior decoration can be funded by loans for home improvement, as can purchase and installation of a fitted kitchen, bathroom or conservatory.

If you want better storage in your home then loans secured for home improvement can be used to purchase fitted bedroom furniture or to develop unused spaces in your home.

Loans for home improvement can be used for garden improvement too, such as landscaping garden.

Larger loans for home improvement can be used to design and build an extension to your home.

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