Finance your conservatory
How to Fund A Conservatory

Overview: Want a new conservatory but unsure how to fund it? We take a look at the options available.

Are you dreaming about a new conservatory? Perhaps you need more space for your growing family? In the current climate, an extension or conservatory is a more affordable option than moving house. Many of us have thought about this before, but the issue of how to afford such major work can make it seem like an unrealistic option for some. This isn’t necessarily the case, however, as options are available to help you finance the conservatory you’ve been dreaming about. We take a look at some of the ways in which you might be able to fund this.


Remortgaging is probably the best option for most people. But what exactly is this? Remortgaging is a process by which you change the amount you owe on your current mortgage, coming to a new arrangement in which the bank gives you more money. This can also extend the period for which you will owe the bank money, the average amount of time being 25 years. This option, therefore, is not to be taken lightly.

Nevertheless, with low interest rates at the moment, remortgaging can be a good option for many – your monthly outgoings may only increase by £100 for the remainder of your mortgage, which is an affordable way to improve your home.

Things to Consider Before Remortgaging

Before remortgaging you should check the terms of your current mortgage and make sure that there are no penalty fees for borrowing more; the existence of such charges could make this option a bad move for some. In addition, there are some circumstances in which banks will refuse to remortgage a home. For example, if you have negative equity in your house then lenders are far more likely to refuse buy ativan line you. Since the credit crunch, lenders are far more selective with their offerings, so you must also bear this in mind. However, if you are able to get a good remortgaging deal, then this is a likely to be the best way for most to fund work on a new conservatory.

Take Out A Loan

Another possible option is to take out a loan. There are a huge range of loans on offer, but you should consider your options carefully before committing. Make sure you do your research and shop around. Some banks offer preferential rates to existing customers, but don’t make the mistake of assuming that this is always the best option. Also make sure you check the small print before agreeing to a loan; some come with convoluted conditions.

It’s also wise to consider early repayment charges; it’s possible that you may want to pay the loan off early, so check that you won’t be penalised for this.

Things To Consider Before Taking Out A Loan

As a rule, the more you borrow the lower the interest rate will be. This means that it can sometimes work out better to borrow more than you need; this could save you money in the long term.

Other Short Terms Loans

It is also worth looking into credit cards, as many come with a 0% introductory offer, which could allow you to spread the cost of large purchases interest-free. If you are able to pay down much of the cost quickly you can avoid interest charges on a large part of your loan.

Whichever finance option you chose, remember that a conservatory will add value to your home in the long run. This means that any financial sacrifice or risk you take in order to pay for the conservatory could pay dividends should you decide to sell your home in the future.