Revitalize your property with BLOX's renovation finance solutions. Our team of specialists will help you navigate the financing process, so you can transform your space into the home of your dreams or maximise your investment value.
Unlock the full value of your home with tailored renovation finance solutions that make enhancing your space both simple and stress-free.
Access to a variety of loan products whether via an equity loan, construction loan or owner builder loan
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Whether you're upgrading your own home or enhancing an investment property, our renovation finance solutions are designed to meet your needs and goals.
At BLOX, we offer a variety of renovation finance solutions designed to help you upgrade and enhance your current home with ease and assurance.
We take the time to understand your project goals, timeline and budget, assessing the unique challenges and opportunities of buying a house and land package. Our team works closely with you to develop a tailored financing solution that aligns with your needs and maximizes your chances of success.
BLOX helps you navigate the financing process from preparing strong loan application and feasibility assessments to structuring progress payments and managing cashflow. We leverage our extensive network of lenders to secure the best rates and terms for your project ensuring you have the financal support you need.
Throughout the construction journey, BLOX remains by your side. We provide practical guidance across progress payments, contract variations and end-of-project financing, helping you anticipate challenges, manage funding requirements and keep your project moving forward.
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At BLOX, we're ready to help you navigate the complexities of construction finance and bring your vision to life.
Get startedRenovation finance can cover a wide range of projects, typically classified into structural and non-structural renovations.
- Structural renovations: Involve significant changes to the core framework of your property. These include adding or removing walls, modifying the building’s layout, reinforcing foundations, or expanding the structure.
- Non-structural renovations: Focus on cosmetic and functional upgrades that don't alter the building’s framework. This category includes updating kitchens and bathrooms, installing new flooring, painting, and upgrading fixtures. Landscaping also falls under non-structural renovations, encompassing improvements such as garden redesigns, patios, and outdoor features that enhance the property’s exterior without affecting its structural integrity.
The amount of renovation finance you can receive is primarily based on your borrowing capacity and the current value of your property. Generally, banks will lend up to 80% of the property's value.
For an equity release, the bank considers the property's current value rather than the potential end value of the renovation. This is because there is no guarantee that the funds will be used exclusively for the renovation.
If your renovation is under a build contract, valuers assess the property's value at the end of the renovation. They start with the current land value and add the anticipated value of the completed project to determine the total value. This helps ensure that the loan amount reflects the improved value of the property post-renovation.
If your renovation is under a build contract, the bank may consider the potential new rental income when assessing the loan amount. However, if you are using equity release, the bank will not factor in the potential new rental income and will base the finance amount on the current property value instead.
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