Home improvement loans

Make your dream home a reality with a personal loan from M&S Bank

Credit subject to status

Why choose a personal loan for home improvement?

From new furniture to a home office, or even a house extension, using a personal loan for improvements could help cover the costs of updating your home. It can help you spread the cost of your renovation and decorating over a period of time that suits you, at a set amount per month.

By choosing a personal loan, you could borrow the amount you need all in one go. This lets you make the improvements to your home when you want and means you could pay back the amount you borrow in monthly payments over the number of months that suit you.

Why take out a home improvement loan with us?

Not everyone can afford to pay for home improvements upfront. There are a lot of ways to pay for your house renovations and it's important to find a way that works best for you.

If you choose a personal loan with us you could borrow between £1,000 and £25,000 to help you manage the cost of your home improvements, however you choose to spruce up your living space. Benefits include:

  • A personalised quote that won't affect your credit score with no arrangement or setup fees.
  • No fees. If you decide to pay extra towards your loan, so you lower the interest you pay.
  • Repay your loan over 12 to 84 months.

Here are some ways you could use your personal loan to add value to your house.

Home improvement loan calculator

Calculate your estimated loan repayments

How much would you like to borrow? Edit, enter a value between £1,000 and £25,000



Over how many months? Edit, enter a value between 12 and 84



Existing customerFootnote 1†

To apply for an M&S Loan, you must have an annual income of at least £10,000, be a UK resident and be aged 18 or over. Customers who do not meet our normal lending criteria may be offered a loan at a different APR. This will depend on your personal circumstances. The loan amount and term you request will also impact the rate offered.

What can I use my home improvement loan for?

Your loan could be used to cover one large cost like building an extension, or on lots of smaller things all over your home, like furniture or wallpapering.

Here are some ways you could use your personal loan:

  • Building a conservatory
  • Remodelling your bathroom or kitchen
  • Kitting out a home office
  • Updating your driveway or patio
  • Landscape your garden
  • Redecorating your living room or bedroom

What can’t I use my home improvement loan for?

There are some things to do with your home that you can't use your loan for. Your loan can't be used:

  • To fund buying a property or land (both in the UK and overseas), including holiday home or apartments
  • To buy a joint stake in property or buy out a joint owner
  • As a mortgage deposit (regardless of lender or country)
  • To gift funds to a third party to support buying a property, including stamp duty and solicitors' fees

More personal loan information

Ways to add value to your home

Looking to sell your home? What are the best ways to add value to your property.

How to build a garden office

Thinking about building a garden office? Look at our ten essentials.

Guide to loft conversions

Thinking about a loft conversion project? How much does it cost? Will it add value? Learn more.

Why you might need a personal loan?

A personal loan can be a good way to pay for home improvements or buy a new car.

Ready to apply for a personal loan?

Apply

Frequently asked questions about home improvement loans

Is a personal loan the best way to pay for home improvements?

Whether or not a personal loan is the best option for you depends on your individual circumstances. You’ll need to consider how much you want to borrow, how long you want to repay for and how much you can afford per month.

If you wish to borrow less than £1,000, you may be better off saving up for a few months or using a credit card. If you need to borrow more than £25,000, you might want to explore remortgaging or a home equity loan.

Note: M&S Bank does not offer either home equity loans or remortgaging as ways of financing home improvements.

Should I remortgage to finance home improvements?

If you're looking to fund a large home renovation, remortgaging might be suitable for you if:

  • You already have a mortgage and are considering paying more off each month
  • The amount you want to borrow is over £25,000
  • You want to pay back the loan over a longer period than we offer
  • Your mortgage is up for renewal soon

A personal loan would be more suitable for funding your renovations if:

  • You don’t have a mortgage, or you don’t want to increase your monthly payments
  • You need to borrow less than £25,000
  • You want to repay your loan over a period of 12 to 84
  • You recently renewed your mortgage

Am I eligible for a home improvement loan?

You may be eligible for a home improvement loan if:

  • you are a UK resident
  • aged 18 or over
  • with a regular annual income of at least £10,000
Customers who do not meet our normal lending criteria may be offered a loan at a different APR. This will depend on your personal circumstances. The loan amount and term you request will also impact the rate offered. Use our eligibility checker to see you’ll be accepted for a personal loan.

How long will it take for me to receive my loan?

Once you've applied online and have been approved, we'll email you the agreement to sign and return to us. We'll sign the agreement when we get it back from you and transfer the money to your account in 3-5 working days.

How much can I borrow for home improvements?

The smallest amount we lend is £1,000 and the most we might lend is £25,000 (credit subject to status). Before applying for a personal loan, make sure the borrowed amount is right for your project costs and the monthly repayments fit into your budget.

How long can I repay the loan for?

You can repay your loan over 12 to 84 months.

How do I apply for a home improvement loan?

  1. Decide how much you’d like to borrow and for how long, using our personal loan calculator.
  2. Get a personalised loan quote. This will give you an idea of the terms on which we may be able to lend to you, without affecting your credit rating.
  3. Apply for your personal loan online. Make sure you have the following information available for your application:
    • Income and employment details
    • Details of monthly payments, like utilities
    • Bank details
    • An email address
    • Your current address, and your old address if you’ve lived where you are now for less than 3 years
To apply for an M&S Loan, you must have an annual income of at least £10,000, be a UK resident and be aged 18 or over. Customers who do not meet our normal lending criteria may be offered a loan at a different APR. This will depend on your personal circumstances. The loan amount and term you request will also impact the rate offered. A personalised loan quote is a quotation search of your credit file at a credit reference agency and this search does not affect your credit rating.