Financing your renovations

Choosing the right finance option

If you love where you live and don't want to move, renovating can make your old place feel like a brand new home. Whether you're planning a new kitchen or bathroom, or opening up new entertaining areas, it's important to choose flexible and convenient finance options that are within your budget.

Complete/Investment Home Loan
A premium home loan which has a wide range of interest rate options and loan features, making it flexible enough to meet your needs both now and into the future. There is a redraw option so you can access the funds from additional loan payments you have made as you need them. Learn more about our home loan options.

Viridian Line of Credit
A flexible and efficient way to manage your money through a single account. It provides a revolving line of credit at home loan interest rates so you can access whatever funds you need (up to the agreed credit limit and, where applicable, daily card limits) to pay for your renovations or other expenses. Learn more about Viridian Line of Credit.

Credit cards
Nothing beats the convenience of a credit card for trips to the hardware store or trade centre. Choose from low rate cards if you're not paying the balance back straight away, or great rewards options if you'd like more from your card. Learn more about our credit card options.

Personal loans
A personal loan offers you a simple and straightforward way to borrow money for your renovations. You can borrow $5,000 or more and approval is usually given within 24 hours. Choose loan terms from 1 to 7 years with either fixed or variable interest options. Learn more about our personal loan options.

 

Avoid renovation mistakes.

Common renovating problems can be easily avoided by remembering the following three points:

• Take time to get used to your property. If possible, live in your home at least 6 months before you decide on any major changes
• Think long term, not short term. Your renovation should meet real needs, not just improve the look of your property
• Keep the cost of your renovations in proportion to your property's market value. If you spend too much, your home may end up costing you substantially more than the average for your area. This is called over-capitalisation, and if you sell your property, you may not recover your money