Fund Your Renovation the Smart Way
There's more than one way to finance a renovation - and the right option depends on your property value, equity, and the scale of the work. We find the best approach for your situation.
Multiple Paths to Your Dream Renovation
From small cosmetic upgrades to full structural renovations - the right finance structure can save you thousands in interest and make the project significantly more achievable.
Renovation Finance Options
Choosing the Right Renovation Finance
We analyse your situation and recommend the most cost-effective path.
Situation Review
We look at your current loan, property value, renovation scope, and cost estimate to identify the best financing approach.
Option Comparison
We present 2 - 3 options with clear numbers - interest costs, fees, and repayment structures - so you can decide confidently.
Application
We prepare and submit your application to the right lender. For equity release, this often requires a property valuation.
Funds Available
Once approved, funds are accessible. For construction loans, we coordinate drawdowns. For equity release, the funds are in your account.
Is Renovation Finance Right for You?
Renovation finance is suitable for a wide range of homeowners. You're a strong candidate if:
- You own your home and have equity built up (at least 20% in most cases)
- You have stable income to service the additional borrowing
- You have a clear renovation plan and cost estimate
- Your renovation will add value to the property
- You want to avoid using high-interest credit cards or personal savings
Renovation Loan FAQs
If you have equity in your home, accessing it via a redraw facility or refinance is usually the cheapest option because interest rates are much lower than personal loans or credit cards. We model the options and show you the total cost of each.
That depends on the scope of work. Your local council can advise on when development approval is required. For construction loans, most lenders require approved plans and a fixed-price contract.
Lenders generally won't advance more than the improved value of the property. We obtain a valuation that takes your planned renovation into account.
For equity release or renovation via refinancing, most lenders require your combined LVR (existing mortgage + renovation funds) to be no more than 80% of the property's improved value. We calculate this before recommending.
Owner-builder renovations are treated differently by lenders. Some lenders accept them with the right documentation - we know which ones.
Talk to an Ignite Broker Today
Whether you're ready to apply or just exploring your options - we're here to help with no obligation.
Book Your Free Consultation
A no-obligation chat with Ali or one of our team. We'll walk through your options and give you a clear picture of what's possible.
Or call 08 8379 3636