Thinking about renovating? Your current lender may not be your only option!

Many homeowners assume that renovating or extending their property automatically means taking out a construction loan – but that isn’t always the case.

Depending on your circumstances, there may be several ways to fund your project, including:

• Renovation loans
  • Options that may allow you to borrow additional funds to improve or upgrade your existing property.
• Home loan top-ups
  • Using available equity in your property to access funds for renovations or other goals.
• Refinancing solutions
  • Restructuring your current loan to access a more suitable product, rate or lending arrangement.
• Construction loans
  • Designed for major builds or significant extensions where funds are released progressively as work is completed.
• Other lending options tailored to your circumstances
  • Because the right solution depends on your property, financial position and long-term plans.

It’s also worth remembering that your current lender may not always be the best fit for your next stage. The right finance structure can help you complete your project while keeping your broader financial goals on track.

Before you start planning your renovation, speak with the IMFS team to understand your options and find the right lending strategy for your situation.