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Home loans are a great way to spread the cost when funding projects in your home. You can use a loan for anything from redecorating, fitting a new kitchen or bathroom, or maybe giving the garden a makeover.

Home loans are available from £500 to £25,000. You can choose the repayment period to pay it off quickly or spread it over several years.

Comparison sites are a good way to shop around for a good deal. Most banks will also have an online loan calculator so you can see what you can afford. If you try these select a few differnet loan amounts and repayment period before you choose as you may find you get a lower interest rate depending on the amount and pay back period. Generally the bigger the loan and the longer the repayment period the cheaper the interest rate will be.

Types of loan
When applying for a loan from a bank they will want to make sure of your ability to repay. They will want to know about your income, outgoings, and any other financial commitments you have(credit cards, other loans) If everything looks fine and you can comfortably afford the repayments then they will often offer you and Unsequred loan.

Unsequred loan
An unsequred loan means that in the unlikely event of you not being able to make the payments a bank has no automatic right to seize assets to recoup the money it lent you.

A Sequred loan is where you are given the loan conditional on you having an asset of some value (like your house). The lender has a legal call on the asset (house) and can take steps to make you sell it to recoup the money it lent you.

Loan Guarnatee
Here you are given a loan subject to someone else (a person you know like a relative or friend) who is financially more secure than you and is willing to guarantee the loan. That means the bank will loan you the money, but in the event of you not being able to pay the bank will expect the guarantor to make payment in full. Naturally if things go wrong the guarantor will not be very happy if they have to pay off your loan!