When you apply for a loan quote with us, we run a soft credit check that doesn’t impact your credit score. You’ll get an upfront, guaranteed rate if you’re eligible. That way, you can decide if our home improvement loan is right for you before applying.
If you’re eligible and accept our rate, you’ll need to provide us with your bank details and sign your documents online. Once we’ve approved your loan and signed the agreement, we’ll send you your funds within three working days — ready for you to get started with your renovations.
To receive a quote, you’ll need to meet our eligibility criteria and provide us with the following information:
Residential addresses for the last three years
Contact details, including an email address
The rate we offer you will depend on your circumstances.
Representative example: for comparison purposes, 16.9% APR Representative based on a loan of £10,000 repayable over 60 months (five years) with an interest rate of 16.9% p.a. (fixed). Monthly payment of £241.68 total amount repayable £14,500.74.
All personal loans are subject to status. The interest rate offered will vary depending on our assessment of your financial circumstances and your chosen loan amount. That's why you won't find a loan calculator on our website. To find out more about this as well as our commitment to transparency, visit our guide on why Shawbrook Bank doesn't use loan calculators.
We offer loans from £1,000 to £50,000 with loan terms from one to seven years. The maximum APR rate you could be offered is 34.9%.
Personal loans without the confusion.
We’re proud to be a different kind of bank. We’re committed to being fair and transparent with everyone that applies for a personal loan, so this is our promise:
Honest: What you see is what you get.
Open: We want you to get the rate that’s right for you.
Fair: Get a rate that’s based on your individual circumstances.
Upfront: If it’s not good for you, it’s not good for us
Below are some of the most common queries about home improvement loans
What is a home improvement loan?
A home improvement loan is an unsecured personal loan taken out with the specific purpose of covering all or part of the cost of home improvements.
With an unsecured personal loan, you don’t need to be a homeowner as the amount borrowed isn't secured against your assets, such as your home or car.
Shawbrook home improvement loans are built to fit your needs.
With a Shawbrook loan, you could borrow between £1,000 - £50,000. You can take the loan over one to seven years, depending on the amount you wish to borrow.
You'll also get fixed monthly repayments.
It’s up to the borrower to decide what home improvement expenses they choose to cover with their loan.
What information will you ask me for when I apply for a home improvement loan?
A Shawbrook home improvement loan is simply a personal loan. There aren't any special home improvement related questions that you have to answer.
To apply for a Shawbrook home improvement loan, you will need to supply the following information:
3 years address information
Employment and income details
Bank account details"
Do I need to secure my home improvement loan on my home?
There are usually two types of home improvement loans, secured and unsecured. An unsecured home improvement loan is a personal loan which allows you to borrow money over a number of years, normally at a fixed rate of interest. A secured home improvement loan will mean the finance will be secured against your home or other asset and could allow you to borrow larger amounts as your home is collateral for the lender.
A Shawbrook home improvement loan is an unsecured personal loan.
Can I pay a loan back early?
Of course — you have the right to pay a personal loan back early or make an additional monthly repayment under the Consumer Credit Act. But it’s important to know that this may be subject to an early repayment charge.
To discuss your options with a member of our team, please contact us. If you have taken out a loan with us on or after 13th December 2021, you can also log in to your customer portal to contact us: https://myloan.shawbrook.co.uk/.
Shawbrook is a different kind of bank, built to accommodate individuality, diversity and the dynamics of the modern world. We combine great technology and the expertise of our people to understand our customers’ individual requirements and to meet their evolving needs.