Spruce up Your Home With a Home Renovation Loan in Singapore
With UK Credit’s home renovation loan in Singapore, no dream home is unimaginable. Our reno loans offer generous loan sums on top of flexible repayment plans — never have to worry about delaying the ultimate home makeover.
What Are Home Renovation Loans in Singapore?
Happy home, home life. There is no better way to improve your quality of life than a comfortable nest to relax and unwind. If rising material and labour costs have kept you at arm’s length from the beautiful home of your dreams, it’s time you let our affordable home renovation loan in Singapore help you spruce things up.
Let our renovation loan do the funding while you do the brainstorming!
How Home Renovation Loans in Singapore Can Help?
Fix Up an Old Home
Taking out a home renovation loan in Singapore allows you to improve the quality of your living space and lifestyle. With strategic renovations, you can even enhance the resale value of your home and ensure a higher capital gain.
Loan Up to 6x Your Monthly Salary
Get a home renovation loan sum of up to 6 times your salary. No collateral, guarantor, or minimum wage requirement — it is that simple.
Low Interest, Flexible Repayment
UK Credit’s renovation loan in Singapore offers affordable interest rates and a highly flexible repayment schedule tailored to your financial capabilities — ensuring you get the sum you need without affecting you financially.
Quick Approval and Minimal Documentation
What makes UK Credit’s home renovation loan so appealing is its minimal documentation and fast approval process; it’s as fast as 30 minutes. Expect to receive your funds in just 20 minutes, too.
No Need to Tap into Savings
Taking out a reno loan in Singapore allows you to finance your home improvement project without depleting your savings or emergency funds. You can preserve your cash reserves for rainy days.
Get Your Home Renovation Loan in 3 Steps
Step 1
Submit your application using our online form.
Step 2
Get updated on your pending application status from our loan officer.
Step 3
Stop by our office to review and sign the contract; receive funds in 20 minutes upon approval.
What You Must Know about Home Renovation Loans in Singapore (FAQ)
What can a home renovation loan be used for?
From minor retrofitting to erecting new walls, we’ve got you covered with our renovation loan. At UK Credit, we’re a private money lender who offers low-interest reno loans in Singapore that let you revitalise your living space with accessible financial solutions tailored to your financial capabilities.
A home renovation loan in Singapore can come in handy in a variety of ways.
Structural Changes
You may use a home renovation loan in Singapore to hack walls, add partitions, or modify the layout of your living spaces. Many homeowners make structural changes to their homes to expand or reduce the sizes of rooms.
Flooring and Tiling
Replacing old flooring or laying new tiles can cost anywhere from S$5,500 to S$70,000 for a 1,000-square-foot home. A home renovation loan from UK Credit will be useful for homeowners who want to spruce up their homes with good-quality materials but lack the budget.
Electrical and Plumbing Works
A good electrical system and proper piping work are essential for homes because they are the backbone of a functioning household. Especially for older homes, upgrading the electrical system and new pipes can eliminate risks, increase quality of life, and lower utility bills.
Painting and Ceiling Works
Whether it is to give your home a fresh coat of paint or install modern false ceilings, having a renovation loan may offer peace of mind amidst the rising cost of home-related works in Singapore. As a cost guide, painting works for an average home start from S$1,400 and ceiling installations from S$1,300 to S$5,200.
Carpentry
From kitchen cabinets and custom-made wardrobes to TV consoles and drawer units, customising carpentry works allows homeowners to tailor their furniture to their taste and room configuration. Custom-built furniture usually costs a lot more than ready-made ones, which is why a reno loan will come in handy if you need extra cash.
Am I eligible for a renovation loan from UK Credit?
Our renovation loan is highly accessible. All you need to do is obtain an estimated renovation cost, then contact us to discuss your loan options, loan sum, chargeable fees, interest rates and repayment schedule.
You can use Qanvast or seek advice from your contractor to estimate the cost of your renovation.
What factors do UK Credit consider when assessing my renovation loan application?
UK Credit will assess your income, your existing loans with other licensed lenders, and the nature and cost of the renovations.
What documents must I furnish to get a renovation loan from UK Credit?
To get a reno loan in Singapore, you need to provide documents such as proof of identity (e.g. NRIC or passport), a quote from a certified contractor listing the work you want to get done on your property, proof of home ownership, income statement (e.g. CPF statements or payslips for the last 3 months and latest income tax statement).
Non-salaried borrowers must provide bank statements for the last 12 months, ACRA documents and their most recent tax statement. Self-employed business owners should supply proof of their capacity as sole proprietors and company owners.
Will I receive my renovation loan immediately?
Upon approval, you can sign the agreement and receive the funds for your renovation on the spot.
