Turn Your Current Home Into Your
Dream Home.
Whether you're renovating a kitchen, adding a second storey, or knocking down and rebuilding — the right loan structure makes all the difference. We compare 40+ lenders to find the best renovation finance for your project, at no cost to you.
What Is a Renovation Loan?
A renovation loan is finance specifically structured to fund home improvement projects — from cosmetic upgrades to full structural rebuilds. Unlike a personal loan, renovation finance is typically secured against your property, giving you access to significantly larger amounts at home loan interest rates.
There are several ways to fund a renovation, and the right approach depends on your equity position, the scope of your project, and your existing loan structure. We'll help you identify the most cost-effective option for your situation.
Discuss My Renovation Finance →Your Renovation Finance Options
There's more than one way to fund a renovation. Here's how each option works and who it suits.
Equity Release / Cash-Out Refinance
Tap into your existing home equity by refinancing your current loan for a higher amount. The difference is released as cash for your renovation.
Best for: Homeowners with significant equity who want the lowest possible rate.
Construction Loan
Funds are released in staged payments as your build progresses — you only pay interest on what's been drawn down.
Best for: Major renovations, knockdown rebuilds, or new construction where work is done in stages.
Home Loan Top-Up
Increase your existing loan amount without a full refinance. Simpler and faster, but limited by your current lender's policies and rates.
Best for: Smaller renovations where you're happy with your current lender and rate.
Personal Loan for Renovations
Unsecured, faster to access, but higher interest rates and lower limits — typically up to $50,000.
Best for: Smaller cosmetic renovations where you don't want to touch your mortgage.
We'll help you identify which option suits your project, equity position, and budget — as part of your free assessment.
How Much Can You Borrow for Renovations?
The amount you can access depends on:
- Your property's current value
- Your existing loan balance (your equity position)
- The estimated post-renovation value
- Your income and serviceability
- The lender's LVR policy
Example Scenario
Based on an $800,000 property
Example only. Your actual borrowing capacity depends on your individual circumstances and lender assessment.
What Can You Fund With a Renovation Loan?
Most structural and cosmetic improvements qualify. Here are the most common projects we help finance.
Lender policies on what qualifies vary. We confirm eligibility as part of your free assessment.
From Renovation Plans to Settlement — in 5 Steps
We manage the finance side so you can focus on the renovation itself.
Free Assessment
- Review your equity position
- Identify the best finance structure
- Estimate your renovation budget
Lender Comparison
- Compare 40+ lenders for renovation finance
- Assess construction loan vs equity release
- Match lender to your project scope
Application
- Prepare and submit all documentation
- Liaise with lender and valuer
- Manage progress draw requests if construction loan
Approval & Valuation
- Property valued on as-is and as-completed basis
- Formal approval issued
- Funds structured for your project timeline
Build & Beyond
- Progressive drawdowns managed (if construction loan)
- Rate reviews every 6 months post-completion
- Ongoing support as your equity grows
Why Use Based Finance for Your Renovation?
Getting renovation finance wrong is expensive. We make sure you get the right structure from the start.
We Know Renovation Finance
Construction loans and equity release have different rules to standard home loans. We know which lenders are best for which project types.
40+ Lenders on Our Panel
Not every lender offers construction finance or accepts all renovation types. We match your project to the right lender — not just the cheapest rate.
We Manage the Complexity
Progress draws, valuations, builder contracts — we guide you through every step and liaise with all parties on your behalf.
Free Service — No Broker Fees
Our service costs you nothing. We're paid by the lender after settlement.
Future-Proofed Structuring
We structure your renovation loan so the increased equity works in your favour — setting you up for your next investment or refinance down the track.
Ongoing Rate Reviews
Once your renovation is complete, we keep reviewing your loan every 6 months to make sure you're always on a competitive rate.
Frequently Asked Questions — Renovation Finance
There are several options: a construction loan (draws down in stages as work progresses), equity release through refinancing your existing home loan, a personal loan for smaller projects, or a top-up to your existing home loan. The right option depends on your renovation budget, current equity, and whether you are using a licensed builder.
A construction loan releases funds in progress payments (drawdowns) tied to construction milestones — slab, frame, lockup, fixing, and practical completion. You only pay interest on the amount drawn down during construction. Once complete, the loan typically converts to a standard variable home loan.
Most lenders allow you to borrow up to 80% of your property's current value without LMI. For example, if your property is worth $800k and your loan is $500k, you may be able to access up to $140k in equity (80% × $800k = $640k, less $500k outstanding). We calculate your exact usable equity.
For major structural work, council Development Application (DA) approval is typically required before a lender will advance funds. Minor cosmetic renovations may not require council approval. We help you understand what documentation is required before applying.
Some lenders offer owner-builder loans, but options are limited and typically require an owner-builder licence and demonstrated project management experience. Most mainstream lenders prefer licensed builders. We identify which lenders will work with your specific renovation structure.
Construction loans typically run for 12–24 months during the build phase, after which they convert to a standard home loan. Longer projects can be accommodated but may require lender approval.
Get Your Free Renovation Finance Assessment
Tell us about your renovation project and we'll identify the best finance structure, how much you can access, and which lenders suit your situation — at no cost and no obligation.
What Can You Actually Borrow?
Tell us where you're at — we'll give you a straight answer on what you can borrow, which lenders suit your situation, and what it'll actually cost. No broker fees, ever.
Tell Us What You're After
This page contains general information only and does not constitute financial or credit advice. Renovation finance eligibility depends on individual circumstances. Fees and charges may apply. Please speak with a qualified mortgage broker to discuss your situation.