Are you looking to update your kitchen, add a new conservatory or perhaps just refresh a few rooms?

Step One offers loans which can provide you with the funds you need to undertake these important projects.

Benefits of a Step One loan

  • Access to funds: Access to the funds needed to finance your home improvements, rather than having to save up over a long period.
  • Enhanced property value: Home improvements can increase the value of your property. This can be beneficial if you plan to sell your home in the future.
  • Improved comfort and functionality: Renovations or upgrades can make your home more comfortable and functional, enhancing your overall living experience.
  • Energy efficiency: Upgrading to energy-efficient features can lead to long-term cost savings on utility bills.
  • Faster completion: By borrowing money, you can complete your home improvements sooner than if you had to wait until you saved enough money.

Points of Consideration

  • Repayment terms: Understand the terms and conditions of the loan, including interest rates, monthly payments, and the repayment period. Ensure you can comfortably afford the monthly repayments.
  • Budgeting: Evaluate your financial situation and determine if borrowing fits within your overall budget. Assess whether you can manage the additional debt alongside your existing financial obligations.
  • Interest rates: Compare interest rates from different lenders to secure the best deal. Higher interest rates can significantly increase the overall cost of borrowing.
  • Collateral and risks: As you are using your home as collateral, be aware of the risks involved. Failure to make timely payments could lead to foreclosure or the loss of your home.
  • Loan options: It is good to explore different loan options such as personal loans or a further advance on your first mortgage. Each has its own advantages and considerations, so choose the one that aligns with your needs.

Mortgage Loans

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If you are considering taking out a mortgage with us, you should seek advice from a firm authorised by the Financial Conduct Authority, which can be found by clicking here.

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APR

Please note that Step One Finance does not charge up-front fees for any loan enquiries or applications. You should be wary of any parties purporting to arrange a Step One Finance loan who are seeking to charge up-front fees. Please contact us if you have any doubts regarding a Step One Finance loan application. Customers can also obtain additional information on the FCA’s website on the dangers of Loan Fee Fraud by clicking here.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT IF YOU ARE EXTENDING THE TERM OF THE DEBT YOU MAY BE INCREASING THE TOTAL AMOUNT YOU NEED TO REPAY.