Overview
Renovation loans help homeowners transform existing properties or rehabilitate fixer-uppers. These specialised loans can be structured as construction loans with progress payments or as lines of credit that allow you to draw funds as needed.
Renovation financing can significantly boost your property's value while creating your dream living space. Whether you're planning a simple kitchen makeover or a comprehensive rebuild, the right renovation loan can help you manage cash flow throughout the project while potentially building instant equity.
The Felix team can talk you through your options, and find the best loan for your renovation goals.
Loan options
Construction renovation loans
Looking to update your place? Renovation loans can be structured as construction loans, allowing you to make progressive drawdowns - so you only have to pay interest on the money used to date.
See guide
Cash-out refinance
Refinancing to borrow more than you currently owe, receiving the difference in cash, allowing you to access your home equity in cash for major expenses such as renovating or an investment loan.
See guide
Redraw
A loan facility allowing you to access additional repayments you've made on your loan, providing flexibility to withdraw funds when needed. Not a loan in and of itself, but a feature on some home loans.
See guide
Supplementary loan account
An additional loan account linked to your main mortgage, allowing you to borrow extra funds while keeping this debt separate from your primary loan. Can be set up for investments, renovations, or other major expenses.
See guide
Personal home renovation loan
An unsecured personal loan specifically for funding home improvements, typically with higher interest rates than mortgage-secured renovation options.
See guide
Calculators
FAQs
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