Question 1

What is the cheapest way to finance a home extension in the UK?

Accepted Answer

For most homeowners with mortgage equity, a remortgage or further advance is the cheapest route because it secures the borrowing against the property at mortgage rates rather than personal-loan rates. Always compare arrangement fees and overall cost.

Question 2

Can I use a personal loan for a £40,000 extension?

Accepted Answer

Personal loans typically cap at £25,000–£50,000 depending on lender and credit profile. They are quick to arrange but interest rates are usually 2–4× higher than secured borrowing. Suitable for smaller projects or top-ups.

Question 3

What is a bridging loan and when is it useful?

Accepted Answer

A bridging loan is a short-term (3–24 month) secured loan used when you need fast capital — for example to fund a refurbishment before refinancing onto a standard mortgage. Rates are high (typically 0.6%–1.2% per month) so always have a clear exit strategy.

Question 4

Are there government grants for home renovations?

Accepted Answer

Yes — schemes include ECO4 (energy-efficiency for low-income households), Boiler Upgrade Scheme for heat pumps, and local-authority disabled-facilities grants. None of these typically cover a standard extension or refurbishment.

Question 5

Is RCB Design & Build a regulated financial advisor?

Accepted Answer

No. This page is for general information only. Speak to an FCA-regulated mortgage broker or financial advisor before committing to any product.

Question 6

Can RCB recommend a broker?

Accepted Answer

We work with several independent brokers across London and the South East and can introduce you to one on request. There is no commission relationship and no obligation.

FINANCING YOUR PROJECT