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Written by Sainsburys
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Home improvement loan
Ifraz Mugal, 35,carried out significant home improvements to his two-bedroom flat using a personal loan.
The flat, in Preston Park, Brighton, suited him perfectly when he moved in three months ago – it’s also close to his children’s school. However, it became apparent that the developers had cut corners in some areas, and rather than move out, Ifraz decided to apply for a loan and carry out the necessary repair and decoration work.
"The shower unit was glorious with stone tiles and the latest shower-head but unfortunately the plumbing had not been secured correctly," he explains. "The end result was that the shower sprayed water into the wall hence causing damage in the bathroom and the hall."
"I couldn’t bear the thought of moving due to the location 'ticking all the boxes' but also the sheer hassle of flat-hunting and setting up home again.”
He found a reputable builder to give him a quote to fix the problem. Doing so also involved re-decorating the hall. “As I didn’t have the available funds, a home improvement loan was the only solution." 
Shopping around
Going online to search for a loan made this solution simpler. "A multitude of results allowed me to shop around at my leisure with aggregators and providers competing for my attention. I also signed up to email alerts from the aggregators, which I found very useful. Within a couple of weeks I’d found the one that suited my needs and budget.
He admits the form-filling was tedious, but otherwise the entire process was a cinch. “The provider I eventually chose had indicated a date for the money transfer – but it didn’t arrive – which caused embarrassment as I had to explain a delay in payment to the builder,” he says. “It was a good job that he was a friend or it could have created a tense situation."
Value added
Fortunately, Ifraz only had to borrow £1,000 which is to be repaid over 3 years. "It's a level I can afford without stretching myself," he says. "In my estimation I’ve added £3,000 to the value of the property as we’ve re-decorated part of the flat and added features such as spotlights in the hall. Overall, I am pleased with the way the project was completed and I would consider applying for another home improvement loan if needed."
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