Remortgage for Home Improvements

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Why Choose Us

0 %
5-star reviews on Google
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market
£ 0
total donated to various charities

Why Choose Us

0 %
5-star reviews on Google
£ 0
total donated to various charities
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market

Embarking on a journey to renovate your home can be both exhilarating and overwhelming. Whether it’s a cosy loft conversion, a sleek kitchen refurbishment, or a grand extension, securing the right finance is paramount. At Ascot Mortgages, we are your trusted companions, guiding you through the myriad of options available, including the ever-popular route of remortgage for home improvements.

What Our Clients Say About Us

5.0 Based on 122 reviews from review us onLucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.Shahid L. ★★★★★ This company has been truly amazing in constantly giving me the support and help i need for my mortgage and for their continuous work ethic guiding customers like myself and educating them into making the best possible decisions. My special mention goes to Phil Greenwood who deserves every single credit for his brilliant work and communication skills. The more I got to work with Phil, the more he gained my respect as he is a hugely likeable man and possibly the best mortgage advisor yet. Even after I finished my time with Ascot Mortgages, I will never lose my trust in the company and I hope they exceed their business and gain even more success and popularity.Best wishes,Shahid Latif and familyPretty L. ★★★★★ Phil helped me renew my mortgage. He was great at keeping me updated with any rate changes and secured a lower rate than at the time my mortgage went through. Thank you Ascot for your supportNikki E. ★★★★★ Huge thanks to Richard Johnson for sorting out all of my insurance policies! I had accumulated a variety of life cover and various other policies over the years that all needed a good review and refresh. Richard was extremely patient and helped me to remove the duplication and choose the best cover to suit our current needs. I have used Ascot Mortgages for over 12 years and have met several members of the team, always finding the right help and support to work through what can be a complicated and stressful time. Thanks again, Richard!Aamir R. ★★★★★ As first time buyers we had very little understanding of how to go about applying for a mortgage. Phil was so helpful in cutting through all of the formalities and helping us to decide which mortgage would be best for us also ensured we collated all the details needed and kept us up to date on progress. The process of finding the right house was very stressful but the process of choosing and applying for the mortgage and life cover has been so straight forward that, at times, we were worried it was all a bit too smooth! Thank you for guiding us through this so professionally and with real understanding and personality.Andrew T. ★★★★★ Working with Richard at Ascot has been a great experience. He listened to us and was very professional throughout. This was our first experience with Richard but we've been using Ascot now for 6-7 years. Thank you all at AscotAngie B. ★★★★★ Always give a great service and find you a mortgage in a timely fashion.Alison is awesomeAndrew M. ★★★★★ We have used Ascot Mortgages for over 5 years now and have had excellent service throughout, primarily with Alison and Kevin. Our latest dealings have been with Richard Johnson who although new to us (and to Ascot I believe) has once again provided the 5 star level of service we have come to expect. His product knowledge is excellent offering a range of options supported with consistent communication and updates, always available on the phone or on email every step of the way.Ali H ★★★★★ Excellent service, a big thanks to Natalia Barry for her excellent support with my buy to let mortgage application, Natalia was professional, transparent, and kept me informed during all the process, and thanks to Jason jones for his assistance and support.david R. ★★★★★ I have dealt with Ascot for many years now and will always go back, recently had all my insurances re done by Richard Johnston at the firm, excellent service, communication and swift actions by Richard. Great deals on all three insurances and would recommend anybody to go to Richard for help. Thanks Richard 👍Eve Alexandra C. ★★★★★ We used Ascot Mortgages to purchase a home as first time buyers, Ellie assisted us with this and went above and beyond to ensure everything went smoothly, all questions were answered, and any queries were solved.As first time buyers, myself and my partner were quite nervous and clueless as to what to expect when getting a mortgage and what not, and Ellie made this so simple and explained everything in a way that we thoroughly understood what was happening with our house buying journey, without it being pure jargon.I can't thank Ellie enough, she truly has been a star during the whole experience and is an asset to Ascot Mortgages.She is someone who I would definitely recommend to friends and family if the opportunity arises, and has made this whole experience a very stress free and exciting one!Thank you for everything Ellie!Emma W. ★★★★★ Alison helped me to get the right mortgage for my current situation and was very supportivehelen L. ★★★★★ Phil Greenwood dealt with my recent remortgage, he made sure I had the best product to fit our HMO criteria. Then chased solicitors for me and made sure I completed around the date I wanted to avoid my ridiculous rate I was about to be switched to. Thanks Phil, great job! Ready for my next mortgage now so I will be coming back 🙂Mark C ★★★★★ Excellent service from an excellent representative. Very professional and helpful company. Thank you for all your helpDamian L. ★★★★★ I recently purchased a buy-to-let from Auction and Ascot Mortgages, in tandem with Ascot Bridging Finance, supported me through the whole process. Once the property purchase via a bridging loan was complete, Ascot Mortgages worked out the best options for me, despite the Banks rising interest rates and spiralling UK inflation and managed to secure me a competitive mortgage rate for that property. I wouldn't hesitate in going back to Ascot Mortgages in the future and look forward to working with them again in the near future. Thank you for everything you've doneJuliet B. ★★★★★ Thank you to Alison for helping us and sorting out our mortgage. Swift, reliable and very helpful. Very much appreciated. God bless you abundantly 👍👌🤝gareth P. ★★★★★ Been with Alison and team for more than 25 years. Needless to say, very happy...Jo T. ★★★★★ We have been using Ascot Mortgages for the last few years and they have done 11 buy to let products for us.We have found Alison, Phil, Jason, Jardelle and the team to be excellent at finding the best product for us and to work at pace when we are buying from auction and have a deadline to meet.Communication is very good and nothing is too much troubleBen H. ★★★★★ I can't recommend Ascot Mortgages highly enough.We have used them for all of our Mortgages . They are professional and friendly and have walked us through all our options, they always have the time to talk to you and go the extra mile to get you the best deal. It wont be long till I'm calling on their services again, I wouldn't go anywhere else.If you want a mortgage, there's only one place to go!Dog J. ★★★★★ Ascot went the extra mile to help me acquire a mortgage. With the help of Jason and Ellie I was able to get a competitive rate after 3 other firms had told me they couldn't help me. Great levels of communication throughout, I would highly recommend!Ursula B. ★★★★★ Alison was very friendly and professional in securing the right bridging for us and at a very competative price. This ensured that we were able to place an immediate offer and not miss out on our forever home. Later her help and support in finally getting our completion over the line was nothing short of a miracle. I would strongly recommend both Alison and the team at Ascot Mortgages.primrose C. ★★★★★ ALISON IS BY FAR THE BEST IN THE GAME. ALL WE CAN SAY IS THANK YOU SO MUCH. They are passionate on customer service, even in my frustrated time Alison, Jadelle, Ellie I could name them all. May the good LORD BLESS YOU.js_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


What are My Options for Funding a Home Improvement?

When contemplating financing home enhancements, myriad options unfold. Each alternative bears its unique characteristics, advantages, and considerations. Ascot Mortgages illuminates these avenues, enabling informed, strategic decisions that align with your objectives and financial landscape.

  1. Remortgaging
  2. Increasing Existing Mortgage
  3. Second Mortgage
  4. Personal Loans
  5. Credit Cards
  6. Savings

Remortgaging to Pay for Home Improvements

Venturing into remortgaging for home improvements, this avenue involves securing a new mortgage on your current property, potentially at a more favourable rate, while also releasing equity to fund renovations. This pathway can be particularly advantageous when current mortgage rates are lower than your existing rate or when your property value has appreciated, unlocking additional funds.

Key Considerations:

– Equity: Equity in your home is pivotal, dictating the amount you can borrow.

– Rates: Current market rates versus your existing mortgage rate will influence potential savings.

– Fees: Account for any applicable fees, ensuring the cost-effectiveness of remortgaging.

Is it Cheaper to Remortgage to Fund Home Improvements?

Pondering the cost-effectiveness of a remortgage for extension or other renovations? Comparing interest rates, fees, and the loan term will illuminate whether remortgaging is the most economical route. Additionally, assessing the increase in your property’s value post-renovation can offer insight into the long-term financial benefits.

When is Remortgaging to Renovate a Bad Idea?

While remortgaging can be a viable solution, circumstances may render it less favourable:
– Early Repayment Charges: If your existing mortgage imposes substantial early repayment fees.
– Market Rates: When current mortgage rates are higher, potentially increasing your repayments.
– Credit Score: A diminished credit score may impact your ability to secure favourable rates.

Mortgage Repayment Calculator

Increase Your Existing Mortgage to Fund Renovations

Exploring borrowing extra on mortgage for renovations by increasing your existing mortgage can be another feasible option. This approach may be advantageous if your lender offers competitive rates and the additional borrowing does not substantially impact your loan-to-value ratio.

Take Out a Second Mortgage to Fund Home Improvements

Delving into second mortgages, this option entails securing an additional loan against your property, parallel to your primary mortgage. A house renovation mortgage of this nature may be suitable when your primary mortgage has prohibitive early repayment charges or when a second mortgage offers competitive rates.

Take Out a Loan to Fund Home Improvements

Unsecured personal loans can be a straightforward, flexible solution, particularly for smaller-scale renovations. Ascot Mortgages assists in navigating the diverse loan landscape, comparing rates, terms, and lending criteria to pinpoint the optimal renovation mortgage tailored to your needs.

Using Credit Cards to Fund Renovations

Credit cards can offer convenience and flexibility, especially for incremental, ongoing expenses. However, higher interest rates and potential impact on your credit score necessitate careful consideration and strategic planning.

Saving Up to Pay for Home Improvements

Building a savings nest can be the most cost-effective route, eliminating interest and borrowing costs. However, this approach demands patience, discipline, and may delay your renovation timeline.

Alison Gibson

Ascot Mortgage Expert


Remortgaging is applied when you keep

living in your present property while applying for another mortgage deal with a new lender. Before finding out how to remortgage and get the best offers from experts like Ascot Mortgages, you have to check meeting what parameters of the deal that can help you succeed the most. The range of background factors varies a lot — from the recently changed loan-to-value ratio or your existing agreement coming to an end.

Whether you are trying to get a more beneficial deal or searching for funding to improve your home conditions, remortgaging is one of the most advantageous scenarios to consider.

What Should I Consider When Funding My Home Improvements?

When navigating renovation mortgages and other funding avenues, several key considerations arise:

– Scale of Renovation: The scope and cost of your project will influence the most suitable financing option.

– Interest Rates: Comparative assessment of interest rates across different funding sources is crucial.

– Repayment Terms: Evaluate the repayment structure, ensuring it aligns with your financial capacity and goals.

– Fees and Charges: Factor in any applicable fees, charges, and penalties associated with each financing option.

– Future Property Value: Consider the potential increase in property value post-renovation.


Embarking on the path to home renovation is a journey filled with possibilities and decisions. Whether contemplating a remortgage for home improvements, evaluating remortgage for extension possibilities, or exploring alternative financing avenues, Ascot Mortgages is your dedicated guide. We illuminate the landscape, empower informed decisions, and navigate the intricacies of mortgage regulations, ensuring your home improvement journey is embarked upon with confidence, clarity, and strategic financial alignment.

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To apply for a remortgage for home improvements, you’ll need to approach either your existing lender or explore options with other lenders. The documents typically required include:

– Proof of your income (e.g., recent payslips and P60 or tax returns if self-employed).

– Bank statements, typically from the last 3 months.

– A detailed estimate of the home improvement costs.

– Evidence of any increase in property value, if applicable.

– Your current mortgage statement.

It’s advisable to consult a mortgage advisor to ensure you have all the necessary documentation and to discuss the best remortgaging options.

You can apply to remortgage after making home improvements, but it’s crucial to know that some lenders might have terms stipulating that significant alterations should be informed to them. Not notifying your lender may be a breach of your mortgage agreement. It’s always best to consult with your current lender or seek advice from a mortgage advisor on how to proceed.

Yes, if your home improvements have increased the value of your property, you may be eligible for a higher loan amount when you remortgage. Lenders will typically require a new property valuation to assess the updated value. If the value has increased significantly, this could put you in a lower loan-to-value (LTV) bracket, potentially offering you a better interest rate.

If you’re struggling to meet the repayments on your remortgage, it’s essential to contact your lender as soon as possible. They might be able to offer you solutions, such as extending the mortgage term or offering a payment holiday. However, continually missing payments can lead to more severe consequences, including potential repossession of your home. Always seek advice from your lender or a financial advisor if you’re facing difficulties.

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