The challenging times we’re all experiencing means we’re getting a lot more calls than usual and our call times are longer. So we can support people in the most vulnerable situations, we ask that you only call us if your enquiry is urgent. You can still use our online and mobile banking services and our automated service.

 

Loans for home improvement

How a home improvement loan could help you.

You might have a growing family, a tired-looking kitchen - or perhaps your home needs new windows? If you’re looking for a home improvement loan, a Lloyds Bank Personal Loan could be the perfect solution to help you move forward with your plans.

Home improvement loan features and benefits

  • With a Lloyds Bank Personal Loan, you could receive a rate of 3.9% APR RepresentativeAPR stands for the Annual Percentage Rate of charge. You can use it to compare different credit and loan offers. We will tell you the APR for your loan or credit card before you sign an agreement. if you borrow £7,500 – £25,000 over one to five years. Note: the maximum APR you could be offered is 29.9% APR depending on your circumstances.
  • A range of borrowing amounts: choose to borrow from £1,000 -£35,000 over one to seven years. Different rates may apply.
  • When you apply online, we’ll give you a decision on your loan application in minutes.
  • You have flexible payment options, so you can make additional payments whenever you want to with no charge.
  • Apply online and we can transfer funds into your bank account straight away if it is between 9am –8:30pm, or before 9am the following day.
  • You have the option to apply for up to two payment holidays of one month in a rolling 12-month period, subject to approval.

Keep in mind

  • To apply for a Lloyds Bank loan, you must be over 18 years old and a UK resident. You must have held a Lloyds Bank Current Account for a minimum of one month to apply online. Or, if you have a credit card, mortgage or existing loan with us you can apply over the phone.
  • How much we lend and the rate available are subject to our assessment of your personal circumstances.
  • If you meet certain conditions, we can offer a payment holiday. As interest will be charged over a longer term, you’ll pay more for your loan overall.
  • If you opt to settle your Personal Loan early, we will charge up to 58 days' interest.
  • We will not offer a loan for any of these reasons.
     

We’ll never encourage you to borrow more than you can afford. If a Personal Loan is not right for you, there are other borrowing options available.

We want you to find a product that’s right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £225.04. Total amount repayable will be £10,801.92. Representative 3.9% APR, annual interest rate (fixed) 3.83%.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. If you qualify for a loan we'll tell you the rate that applies when you get your personalised quote. The maximum APR you could be offered is 29.9% APR. Lending is subject to status and additional affordability checks.

Loan calculator

Use our handy loan calculator to work out how much your loan payments could be.

Whilst this calculator will give an indication of monthly payments and APR, you can find out your personalised rate by logging in to Internet Banking.

Five ways to successfully manage your home improvements

Thorough preparation is the secret to a successful project. Making a plan at the outset will give you a good idea of how long the work could take and the costs involved. Here are five steps to help you prepare for home improvements:

  1. Decide how much you will do yourself or whether you will hire a builder who acts as project manager.
  2. Make firm decisions about your project early on and stick to them. Changing your mind part way through can lead to delays, the need to buy more materials and higher labour costs.
  3. Under-budgeting is a common mistake. Be realistic rather than optimistic in your estimates. Set a minimum cost for the entire project and keep some money to one side to cover the unexpected. Monitor costs regularly.
  4. Ask for at least three competitive and detailed quotes from recommended contractors and check when they are available.
  5. Before you start any work, check if you need planning permission or building regulations, and how much this will cost, with your local authority.

Once you have a clear idea of how much your home improvements will cost, you can use our calculator to see if a Personal Loan is the right finance option for your needs.

Apply for a loan

To apply for a Lloyds Bank loan, you must be over 18 years old and a UK resident.

You must have held a Lloyds Bank Current Account for a minimum of one month. Or, if you have a credit card, mortgage or existing loan with us you can apply over the phone.

Apply online

If you are an existing Lloyds Bank customer, you can get a personalised quote for a Personal Loan, and a decision in minutes with no effect on your credit rating.

Log on to get a quote

Apply over the phone

If you have a Lloyds Bank Current Account, call us on 0330 123 3890 to apply for a loan over the phone.

Or if you have a credit card, mortgage or existing loan with us, call us on 0330 123 4715.

Lines are open 8am–10pm seven days a week.

Apply in branch

Your local branch will be happy to help you apply for a Loan. We'll usually be able to give you an answer and transfer the money into your account the same day.

Making sure you get a fair deal

We want you to find a product that's right for your circumstances, which is why we adhere to the Standards of Lending Practice, which are monitored and enforced by the Lending Standards Board.

To find out more you can read the statement of responsibilities, which details what's expected of us, the lender and you the borrower.

Important legal information

Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).

How much we lend and the rate available are subject to our assessment of your circumstances. You must be 18 years of age or over and a UK resident. You must have had a Lloyds Bank Current Account for more than one month.