Renovation and Financing – do they always go hand in hand?

By Haitham Rifai

You’ve decided that it’s time to update your kitchen, or add another room to the house instead of moving.  Refinancing to renovate a property is a significant decision and one that will hopefully improve your standard of living or add substantial value to your property (see my earlier blog on over capitalising).

Refinancing isn’t as straightforward as you might expect. The type of renovation proposed goes a long way to informing you of the right loan. If you get the wrong type of loan, you could be left with a pile of unexpected debt.