Home Improvement Loans That Help You Upgrade Your Home
Make your home upgrades happen with a flexible Home Improvement Loan from Rate Drop™ — designed to reward you with lower rates when you pay on time.
Why choose Rate Drop for home improvements
Make the changes you’ve always wanted with a Home Improvement Loan from Rate Drop™. Whether you’re planning a new kitchen, fixing a leaky roof, or upgrading your space, we make it simple to borrow what you need — with repayments that can get cheaper over time when you pay on time.
- Clear, fixed monthly repayments
- Rate Drop™ technology can reduce your APR after six on time payments
- No guarantor required
- UK based support
- No hidden or setup fees
We’re a responsible lender. Every application includes credit and affordability checks to ensure fair and affordable borrowing.
What can a Home Improvement Loan be used for?
A Rate Drop™ Home Improvement Loan can help with almost any project, big or small, including:
- New kitchen or bathroom
- Boiler or central heating
- Windows, doors and insulation
- Roof repairs and damp proofing
- Flooring, plastering and decorating
- Garden makeovers, fencing and patios
- Solar panels and energy efficiency upgrades
- EV charger and driveway works
If a tradesperson offers you finance, you can still choose a straightforward personal loan and pay the installer in cash.
How Rate Drop™ works
Every Rate Drop™ customer starts at the same fixed APR. Make six on-time payments and your rate automatically drops for the rest of your loan. Stay on track for another six months and you could see a second Rate Drop™ during the term. If you miss a payment, the six month clock resets and you can still qualify again by making six on time payments later. For terms over 12 months, you may receive a second Rate Drop™ during the loan.
Rate Drop™ apply to the remaining balance only. Your new monthly repayment will be recalculated after a drop. Full details are in your credit agreement.
Eligibility at a glance
You can apply if you:
- Are 18 or over and live in the UK
- Have a regular income paid into a UK bank account
- Can afford the repayments after your normal bills
- Are not currently bankrupt or in an active IVA/DRO
We’ll verify your identity, run a credit check, and assess affordability. We’ll also ask for read-only Open Banking access so our system can understand your regular spending and essential bills. This helps us make fair, fast lending decisions while keeping your data completely secure.
Why Choose a Home Improvement Loan
Home improvement loans are a flexible way to finance renovations without using your home as security. With Rate Drop™, everything is transparent — no hidden fees or complex finance plans.
Use your loan for:
• Home upgrades or refurbishments
• Repairs or maintenance
• Garden or outdoor improvements
• Decorating or furnishing
Make six consecutive on-time payments and your rate automatically drops, reducing your monthly cost for the rest of the loan term.
Costs and repayments
- Fixed interest for the term
- No fees to apply
- You can make extra payments or settle early
If you settle early, we will recalculate interest as set out in your agreement. There are no hidden charges.
Representative Example: Borrowing £3000 over 36 months with a representative APR of 39.9% (variable), the amount payable would be £134.21 a month, with a total cost of credit of £1831.56 and a total amount payable of £4831.56.
Smart planning tips before you borrow
- Get at least two quotes from trusted tradespeople
- Check if any grants or local schemes can help with energy efficiency
- Keep a small contingency for unexpected costs
- Borrow only what you need and choose a term you can comfortably afford
Ready to start your project?
Apply now and get a decision in minutes.
Have questions first? Talk to us and we will help you plan the right loan option for your budget.
Need extra funds for something else? You might qualify for a Top Up Loan.
Looking for a different purpose? Explore our Car Loans or Debt Consolidation Loans from Rate Drop™.
Apply Today