NatWest Home Improvement Loans

NatWest home improvement loans can suit homeowners who want a fixed-rate personal loan for work on their property, rather than changing their main mortgage. They may be used for kitchens, bathrooms, structural repairs, rewiring, boiler replacement, extensions, loft conversions or energy-saving improvements. The right choice depends on the size of the project, your income, your credit file and whether an unsecured loan is enough.

Pre-decision application form

What NatWest home improvement borrowing can cover?

A NatWest personal loan can be a tidy fit for smaller or mid-sized work where you want fixed repayments and a clear end date. For bigger property work, or where the loan needs to run longer, it can be worth comparing a secured homeowner loan as well. A secured loan is different because it is usually a form of second charge lending, so your property is used as security.

Typical projects include loft conversions, extensions, garage conversions, new kitchens, bathrooms, rewiring, boiler upgrades, essential repairs, and greener upgrades. Some borrowers simply want a clean project loan, while others are trying to tidy up older borrowing through secured debt consolidation. If the money can be used in several ways, it is sensible to look at the normal uses of a secured loan before choosing the route.

Loan amounts, terms and applications

NatWest advertises personal loans from £1,000 to £50,000, with shorter terms for smaller loans and longer terms for larger amounts. A small kitchen update might sit comfortably within an unsecured loan, but a larger extension, a new roof or several improvements at once may push the borrowing need higher. Someone comparing a £25,000 loan may also want to compare 10-year secured loan terms, as spreading the cost can make the monthly payment easier to manage, even though the total interest may be higher.

We can compare the best options to ensure you get the best deal possible on your home improvement loan.

You can apply for NatWest loans online or in a branch. Before applying, check payslips, bank statements and your credit file, because the rate you see advertised is not always the rate you are offered. A lender will look at affordability, existing borrowing, income stability and recent credit conduct. Where two incomes are involved, a joint secured loan may change what is affordable, but it also puts both borrowers on the hook.

Rates, fees and the alternatives

NatWest loans usually come with a fixed rate, so the repayment is clear from the start. That makes budgeting easier. Still, the cheapest option on paper is not always the best option for your circumstances. You might compare secured loan rates, check whether second mortgage rates would be cheaper, or choose a fixed-rate secured loan if payment certainty matters more than chasing the lowest headline figure.

Applicants with a cleaner credit file may be able to use a bank loan for home improvements without touching their main mortgage. If you have missed payments, defaults or older credit issues, a comparison of homeowner loans for bad credit and secured loans with bad credit may give a more realistic picture before any hard search is made. Some borrowers also prefer a mostly online route, such as a secured loan with no phone calls, though not every case can be handled that way.

How NatWest compares with other lenders

NatWest is one option, but it is not the only lender worth comparing. Customers with strong credit may also look at Nationwide home improvement loans, Santander home improvement loans or TSB secured loans. Each lender has its own view on income, property type, valuation and credit history, so the lender that looks cheapest in a table may not be the lender that accepts the case.

For cases that need specialist underwriting, lenders such as Pepper Money, Precise Mortgages, Together, United Trust Bank, Masthaven and Paragon Bank may be worth reviewing. Other cases may sit better with Norton Finance, Optimum Credit, Spring Finance, 1st Stop or Blemain Finance, depending on the credit file and the loan-to-value.

Should you use a secured loan for home improvements?

A secured loan can work well where the project is large, the term needs to be longer, or a personal loan is not enough. It can also help when the current mortgage deal is worth keeping, and a remortgage would be expensive or awkward. The risk is obvious but important: the loan is secured against your home, so missed repayments can put the property at risk.

Before choosing a NatWest loan, compare the monthly payment, the total amount repayable and the effect of the loan on the rest of your finances. Also check whether early repayment is allowed, whether the loan will still suit you if your income changes, and whether the home improvement is likely to add useful long-term value rather than just short-term comfort.

NatWest loan details

NatWest is authorised by the Financial Conduct Authority. For product information, criteria and live loan details, use NatWest’s own loan information and then compare it against suitable alternatives before applying.

Registered Office: 36 St Andrew Square, Edinburgh, United Kingdom, EH2 2YB.
FCA Register number: 121882

Telephone: 0345 788 8444.

Web: NatWest loan FAQs

Author: Steve Case – Mortgage and Loans Expert

Reviewed & Fact Checked By: Alise Brown