How does a home improvement loan work?

A home improvement loan is a personal loan which can be used for changes and improvements such as:
 

  • Loft conversion
  • Major repairs
  • Installing heat pumps
  • Getting solar panels fitted
  • Insulating the walls and loft space
  • Fixing up the garden

Improving your homes energy efficiency? See our handy guide

Check your eligibility

  • Check if you're eligible to apply for a loan by answering a few questions and if pre-approved, get a personalised rate - with no effect on your credit score.  
  • No need to re-type your answers - as long as nothing's changed, you don't need to type these details in again.
  • Apply securely online to get a decision.
  • If approved, you should have the money in your account in 2 hours, or sometimes up to three working days.


The amount of lending and the interest rate offered to you, depends on an assessment of your personal circumstances.

Check your eligibility

MBNA personal loans are provided exclusively by Lloyds Bank plc. MBNA Limited act as a credit broker and not the lender.

Before ripping up floorboards, start with a touch of planning and a splash of research.

Make a plan

First, decide what improvements or repairs need to be made.

If you’re pretty handy:

Cost up materials, furniture and finishing touches.

If you need a professional:
  • Make some calls and get a few quotes to compare.
  • Check when they'll be available.
  • Factor in seasonal conditions, like the weather or holidays, into your plan.

Work out costs

When your plan’s in place, work out total costs – keeping in mind there could be unexpected costs. Then, see how much you need to borrow and decide if a loan is the best option for you.

Does it fit your budget?

Look at the money you have coming in and your expenses going out. This helps you work out what you can afford to pay back each month.

What happens now

Check your eligibility

With our eligibility checker you get:

  • to find out if you're eligible to apply for a loan.
  • if pre-approved, get your personalised rate with no effect on your credit score.

What do we need to know about you?To help us get to know you a bit better, here's a few things we'll need from you: your personal and contact details, details about your money coming in and going out and your employment details. Don't worry, as long as nothing's changed, there's no need to type these details again if you go on to apply.

Get a decision

Go on to apply and you'll get an instant decision.

Get the money in your bank

If approved, you should have the money in your account in 2 hours, or sometimes up to three working days.

You can apply for a loan if:
 

  • You are age 18 or over.
  • You’re a UK resident (except for the Channel Islands and Isle of Man).
  • You’re not in full-time education. 
  • You’re in paid employment or have a regular income.
  • You’ve not been declined for credit in the last month.
  • You don’t have a history of bad credit.
  • You are not applying for any of these reasonsLoans won't be provided for speculative purchases (gambling, investments and share purchases), any illegal purposes, business-related purposes, purchase/lease of land or property, either full or part purchase (including deposit), timeshares/holiday clubs

Information needed if applying

If you get an offer and decide to apply for a loan today, you'll also need your UK current account details.

We might also ask you to confirm your identity. For this, you'll need a smartphone or tablet to take a selfie. You’ll also need to take a photo of your UK passport or driving licence.

Frequently asked questions

  • All of our loans are unsecured, meaning they’re not secured against anything such as a car or your home.

  • Getting a personalised quote, telling you what your repayments would be, doesn’t affect your credit score – we’ll only do a ‘soft search’ then. If you go on to apply, we’ll then do a full credit check, called a ‘hard search’. This helps us understand if you’re likely to have any problems paying the loan back.

  • When you apply for a home improvement loan, we’ll tell you how much your monthly repayments will be. This includes the interest and is a fixed amount until you pay the loan back. The repayments will start the month after your agreement begins. We’ll take them by Direct Debit on a date that suits you.

    You can make extra payments with no charge. If you pay the loan off early, we may charge you up to 58 days’ interest.

    If you miss a repayment, your account could be passed onto our collections team and you may be charged £25. And if more repayments are missed, you may be charged more.

  • Our eligibility checker is an online tool you can use to tell us a bit about you and your circumstances. By answering a few questions, you can:

    • find out if you're eligible to apply for a loan.
    • if pre-approved, get a personalised rate.
    • relax - as long as nothing's changed, you don't need to re-type any of the details you've already given us.

    All of this, before you apply and with no effect on your credit score.