Finance your
Loft Conversion

Financing your loft conversion doesn’t have to be complicated, and there are many options available to you.

Glennie Road
Once you’ve worked out your budget and had your first site visit, the next step, if you’ve not already done so, is to secure funding for your project. 

In most cases, it isn’t necessary to dig into your savings or inheritance in order to finance your loft conversion – although, this is certainly something worth considering if you’re in this position. 

Because a loft conversion is likely to boost the value of your property, there are multiple funding options available to you to get this work done if you own your own home – even if you don’t have a lot of equity. Below, we take a look at some of the main funding sources available:


You can re-mortgage with your existing lender or see if you can get a better deal by moving to a new lender. This option is viable if there is existing equity in the property and you don’t mind extending your mortgage period.

Approximate processing time: 6-8 Weeks

Example: £50K @ 2.5% interest over 25 years = £225

Further Advance

Some lenders will allow you to request a further advance (borrowing more). This option is only available if you have sufficient existing equity on your property. You will need to remain with your existing lender, and there may be additional charges and costs involved.

Approximate processing time: 2-3 Weeks

Example: £50K @ 3% interest over 25 years = £240

Re-mortgage (on future equity)

If you don’t have sufficient equity in your property, it can still be possible to re-mortgage based on the future value after your loft conversion has been completed. The exact requirements, information needed, interest rates and charges will vary from lender to lender, and it may be worth shopping around for the best deal available.

Approximate processing time: 8 Weeks

Example: £50K @ 3.5% interest over 25 years = £250

Secured loan

A secured loan is a personal loan that uses your property as collateral. This means that should you fail to make repayments; you could lose your home. However, these are typically a quicker way of securing finance and give you a wider range of lender options than a re-mortgage. Interest rates will vary depending on your credit score and personal circumstances, and it’s also worth remembering that the repayment period is usually considerably less than a mortgage.

Approximate processing time: 3 Weeks

Example: £50K @ 4% interest over 25 years = £265

Unsecured loan

An unsecured loan is a personal loan that can be obtained from a wide range of lenders. Again, the interest rate will vary depending on your credit score and personal circumstances, and the repayment period is unlikely to be longer than 5 years, making this an expensive option. An unsecured loan may not be able to meet the full costs of a loft conversion, so you might have to use additional funding sources to supplement this form of finance.

Approximate processing time: 24 hours +

Example: £50K @ 7.3% interest over 5 years = £1000

*Note: The exact costs for each type of finance will vary depending on your individual circumstances and interest rate offered.

Legal Disclaimer:

Visionary Lofts offers no financial advice or recommendations on how to finance loft conversions. We highly recommend you seek the advice of a qualified financial adviser. Upon request Visionary Lofts are able to put any interested parties in contact with an independent broker specialising in Loft Conversion funding.