Many people choose to invest in their homes to improve their quality of lifestyle and also increase the re-sale value of their home when it comes time to sell. A renovation loan gives you the ability to get the appropriate funds to do the project you want – all you have to do is figure out what you want to do to your house!
Increasing your loan is a simple case of talking with one of our QPCU loans consultants about our renovation loan options.
Increase your current home loan
One option is to increase your current home loan and use these available funds to complete your renovations. To do this simply contact one of our experienced lenders or apply online.
You may be able to utilise the redraw facility to fund your renovations. The redraw option gives you access to any additional funds you've paid into your home loan. The best way to complete a redraw is via internet banking.
An overdraft is typically linked to a savings account and allows you to draw more money from the account up to an approved limit. This type of facility is a flexible way of paying for the renovations and most importantly, you only pay interest on the amount of the limit that you have utilised.
Click here to view our range of home loans.
When purchasing a home in Queensland you will need to insure your house as soon as the contract has been signed.
You may also want to consider updating your life insurance, or consider mortgage protection insurance – to ensure your valuable investment is protected.
For more information about competitive insurance options click here.
To find out more about how QPCU can help you with your renovation loan call us on 13 77 28.