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Home improvement loans

Stress-free renovating

Personalised rates from 6.99%¹
(comparison rate 7.79%

Our latest awards
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Finance your home renovation with less worry

Get a loan up to $50,000 and bring your vision to life

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Unsecured home renovation loan

All our home improvement loans are unsecured, so you don’t need to put your house on the line or wait to build up equity.

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Let the works begin

We don’t need tradesman quotes for your home improvements loan, so there are no delays to getting your loan.

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Get your loan fast

Apply online for your home improvements loan today and you could be breaking out the tools in just a few days.

Simple, 100% online

Step 1. Get to know you

Tell us what you need for your project, then provide us with some details about yourself and your finances.

Step 2. Get your offer

If you’re eligible for a renovation loan, we’ll give you a customised offer that includes everything you need to know.

Step 3. Get your money

If you’re ready to go, we’ll collect some final information so we can finalise your loan. Most loans are ready within 24 hours.

What we offer

$2K - $50K

Loan limits
3 or 5 years

Loan terms
$275 or $575

Establishment fee
$0

Early repayment fee
  • All loans are unsecured
  • Rates from 6.99% - 25.69% p.a.¹ (comparison rate 7.79% - 26.65% p.a.²)
  • Your rate is fixed for the life of the loan
  • You can repay weekly, fortnightly or monthly
  • Establishment fee of $275 for loans under $5,000 ³
  • Establishment fee of $575 for loans $5,000 and over ³
  • No monthly account keeping fees

Find out more about our rates and fees

A home improvement loans customised to your needs

A renovation loan with Harmoney can help make your dream home a reality.

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Get your money fast

Most people receive their money within 24 hours of accepting their loan terms.

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100% online - 24/7

You can complete your entire loan application online in minutes.

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Personalised rate

We calculate your interest rate based on your individual credit assessment, without bias.

4.7/5
★★★★★
★★★★★

Common renovation loan questions

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Why use a personal loan instead of increasing the mortgage?

Low interest rates associated with mortgages can be tempting, but borrowers need to consider the loan term as well as the rate. Miscalculating can cost thousands of dollars in extra interest paid when a long-term loan is involved.

If you’re considering topping up your home loan to pay for renovations, read our post How extending your mortgage can hurt and why it can be more cost-effective to use a personal loan:

Will I need to put up my property or vehicle as security?

No. All Harmoney loans – including our home improvement loans – are unsecured, so you won’t need to put up collateral for your loan.

Can I use a home improvements loan for DIY projects?

Yes, a home improvement loan is well suited to the home handyperson and DIY projects. You can use your renovation loan to buy materials, purchase or hire tools or hire tradies and other professionals such as an electrician, plumber, engineer or architect. It’s up to you how you want to bring your vision to life, and a renovation loan can help to make that happen.

What can I use a home improvements loan for?

The options are as varied as your creative vision. Whether you want to renovate the kitchen or bathroom, add a new room onto the house or improve your outdoor area with landscaping, paving, a new pool, shed or garage – if you have the vision, we’d love to help you bring it to life.

Kick off your project today

If you’ve got a home improvement or renovation project in mind, we can help.

About home improvement and renovation loans

Whether you want to renovate to add to your property’s value or put the finishing touches on your dream home, taking out a loan means you won’t have to delay your home improvements until later. But applying for finance isn’t a decision that should be rushed into.

What is a home improvement and renovation loan?

A home improvement and renovation loan provides the finance you need to improve your house or property in any way you want. Common reasons for a renovation loan are:

  • Kitchen renovations

  • Bathroom renovations

  • Adding a swimming pool

  • Energy efficiency improvements

  • Home repairs

  • New exteriors or cladding

  • Adding a new room or other home extensions

  • Garden and landscaping improvements

  • Adding storage space, a garage or shed

What types of home improvement loans are available?

A unsecured personal loan

All loans offered through Harmoney are unsecured, including renovation loans.

A secured personal loan

A secured loan requires an asset to be put forward to guarantee the loan. This is often a property or the equity in the property (if the value of equity is more than the amount of the loan).

The personal loans Harmoney offers are unsecured.

Mortgage finance

Another option for homeowners is to use mortgage finance to fund renovations, taking advantage of low mortgage interest rates to save on interest costs compared to a personal loan. However, this can often be more expensive in the long term if the interest is paid over many more years than a personal loan.

Things to consider about home improvement loans

What repayments can you afford?

When applying for a home improvement loan, you should think realistically about how much you’ll be able to pay back each month. As a reputable lender, Harmoney takes care to make sure any loan offer will be affordable for the borrower. It’s a compliance requirement that we make reasonable enquiries into an applicant’s finances to check that loan applicants are borrowing within their means.

With that in mind, you should take the time to consider how much you have to borrow for your renovation project.

How flexible is the loan?

Most loan terms span years rather than months, and people’s circumstances can change in that time. That’s why it’s always a good idea to choose a flexible loan.

If you find that you’re able to repay a loan before the full term, this can reduce the amount of interest you pay, saving you money. However, some lenders charge borrowers a fee if a loan is repaid early.

At Harmoney, we don’t think that’s fair. When you have a renovation loan with us, you can repay your loan early without any fees or penalties, helping you to save money and become debt free sooner.

If you’re renovating your property with the intention of selling, and you plan to repay the loan from the sale proceeds, the flexibility to repay your loan early without having to pay a penalty is something to consider.

How much do you need to borrow?

Predicting the cost of a renovation project is more art than science, but it’s important to get this right when you’re borrowing money to finance the project. Borrowing too much could mean you’re paying interest on money you don’t need, while borrowing too little could leave you looking for additional financing to finish the project. It may be possible to top up an existing loan, but that could come with additional fees.

At Harmoney loan, we offer top-up loans to help qualifying borrowers borrow a little extra, but these generally aren’t available within 6 months of an initial loan, so the timing may not work for your project. If you think you might qualify for a top-up, get in touch with our team to talk through what options are available to you.

Got a plan in mind?

We've got the personal loan to help

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We're real people and here if you need us

If you need help, just give us a call on 1300 042 766 or jump on to live chat and one of our more than 30 specialists will be there to lend a hand.

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Terms and conditions

1. Subject to approval and funding. Harmoney’s interest rates range from 6.99% p.a. to 28.69% p.a. (Comparison Rate 7.69% p.a. to 29.55% p.a.) and are offered based on the individual borrower’s credit assessment according to Harmoney’s credit scorecard. In order to be approved and list your loan you must meet Harmoney’s credit criteria and responsible lending requirements. Fees, charges, terms and conditions apply.

2. Comparison rate of 7.69% p.a. to 29.55% p.a. is based on an unsecured personal loan of $50,000 over 5 years. WARNING: The comparison rate applies only to the example given. Different amounts and terms will result in different comparison rates. Costs, fees, government charges like stamp duty, and cost savings are not included in the comparison rate but may influence the cost of the loan.

3. Establishment fee of $275 for loans up to $5,000 and $575 for loans $5,000 and over. Fixed rates range from 6.99% p.a. (Comparison Rate 7.69% p.a.) to 28.69% p.a. (Comparison Rate 29.55% p.a.) on 36 to 60 month terms, with no early repayment penalties.